Do you have a business or a hobby?

I hear this question a lot from coaches, gurus, and business experts. There is a difference between the two. There are many aspects that separate a business from a hobby. Some say income, or money generated, is the main factor. Others say it's your customer base; you can't have a business if you don't have customers. Even still, some say it's the structure of your operations. To me, it's a combination of the three. You can make income with a hobby, but you have set income goals with a business. You can have a customer or two with a hobby, but you have a consumer base with a business. Hobbies are done when one feels like it; a business operates on a schedule. Do you have a business? What about a hobby? Would you ever consider turning our hobby into a business?

 

I manage one YouTube channel on side hustle. I can't say it is business because it has yet to cross 500$ a month mark. If it does that then I'd say this is one of the good earners out there. Apart from this I also do article writing and transcription work. But not many leads coming my way. It is taking more time than usual. Making side hustle and hobby a business means you have to let go of passion and focus on the money aspect.