Types of Businesses
Let's clarify and, you know, people laugh, and I put this slide up. Is it a business? Is it a hobby, or is it a charity? The distinction. I was waiting for that. So a business is something that actually makes money, right? A hobby is something that could make money. But that is, You know, it's something that you do for enjoyment. Something that you perhaps really good it or something that you want to be very good at. Ah, hobby can turn into a business. The charity is something that is never expected to really make any money. It is here for a particular purpose for a cause. It supports something else. So, you know, I, of course, is 10,000 of in Ways of Charities. And the laws constantly change, especially here in the United States, is too what charitable business forms there are. And, you know, legal entities. We're not gonna cover this in this because not called built. Your charity is called built your business, but I want you to just be in your mind really clear about this. It's about...
setting an intention. Are you building a business? Do you want to take your hobby into a full time profession at one point, and you're just starting to learn the basics so you can when you already really flipped the switch and turn it on and then have that business plan and that business idea ready to go, or are you running a charity where you really don't care as long as it feels good, As long as you're off services. Long issue participating and there's nothing wrong with any one of these. You know, it's okay to do any one of these. There's no judgment, but it's everything I talk about. It's always about making a conscious decision. What is it for you on that note? It is perfectly OK to do something that helps other people and still be compensated for that. There's no rule, no law out there in the world that says that you have to provide something, and just because it helps other people, it has to be for free. It's a myth, so we'll we'll cross it out. You should, and you will make money with your business because that's what you're learning here. Let's let's move it. Let's talk about what kind of business and this is you know, an important part again in the process is are you going to be a freelancer? Somebody someone would just call and higher like a one on one? Are you in the consulting or in the coaching business? So I, Munich and again gonna put it out to you like, Tell me what's your business? And which of these, you know, have even thought about on how you conducting your business and what you going to call it? Because this also goes what we talked about in the mission or the vision statement where we want everybody to identified as clearly as possible. But it requires for you two first half given it some thought. Now we talk about likes and don't likes. So sometimes it's really sometimes it's very clear, and sometimes it's not so clear. So if it's not clear, I really recommend to actually do it like that. You know, you make the list and you divide the list and you put your likes and you don't likes. So if you're really good at you know, let's see. No, like my example, organizing, researching, collaborating, helping others, being the leader, having ideas, trying to things, being a family person wanting to inspire, wanting to transform people's health and well, being through through nutrition. Then that's something you like. And then there's always things you don't like. You know, Like I said, office politics not being heard the day today. Stuff busy, busy work. And I'm going to show you as we go through this on how to set up the business So you don't have to do this stuff you don't like to do. Here is another really fun one for me. So the quality off the idea right? 99% off all ideas are really not new. Shocking, 99% off. All ideas are really ideas that already exist. They're just better.