Are you running a BUSINESS or simply a HUSTLE?
I am torn between the answers I get on this subject. What some may think is a Business, is simply a Hustle!
Is it? Or is it not? HELP!
Business
Hustle
I grew to believe that a Business was a store front and/or website company with a physical location, employees, and some sort of service, or a tangible item . Maybe even both!
If the owner wished to sell the Business the new owners would receive all that went with the Business. Building, land, employees, service and/or items would be transferred to the new owners.
While on the other hand,
A Hustle is something that one single person can do without any LLC or employees, building, land, etc. Simply put, you can start a venture today, close it tomorrow, and not have to go through anything more than taking down your listings on whatever your selling on, or stop receiving work to do if you provide a service.
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See,,,,I am part of a community of sellers. (Hustlers) Most say "I run my Business this way!" or "I like to do this with my Business!".
I thought of my Hustles as a Business as well, so I am guilty of this too. I am bothered by this because I think new people joining the Hustlers also have a sense that this is a Business when it simply is not!
If I were to walk away from my Business/Hustles at this very moment, I have nothing to sale off. I have items, but I cannot sell them to another person as a turn key Business Opportunity! I would simply be selling them stuff, and they do with it what they wish.
Same would go with Mining Bitcoins, or Lending Bitcoins, or Selling POD on Amazon Merch. These also are Hustles, are they not? Yet some may see their daily Hustles as a Business since they built up the Hustle from $200 to generating 1,000's to 10's of thousands of dollars every month.
Here is the conflicting part!
If this person buys my goods, and decides to do with them,,,what I was doing with them (Selling) then I guess that could be a Business transaction? Could it not?
Sorry for this post! I feel I am right, yet wrong in the same sentence on this topic.
What do my fellow Steemians consider a Business? And what do you guys consider a Hustle?
Sorry OCD is kicking in tonight! LOL
I would love to hear others thoughts on this topic. Thanks!
I think a business and a hustle are two seperate things but can also be the same thing.
For example, someone who finds a supplier in China, sets up a website, sells a product, etc is clearly a business.
Someone who sees a Blockbuster store going out of business and stops in and buys some cheap DVD's to resell on eBay is more of a hustle.
That's not however to say that the hustler doesn't have success, realize he's onto something and find a supplier for games so he can continue to run his business even after he sells out of his limited inventory.
I guess at the end of the day each person has to decide for themsevles whether they want a real business or a hustle, it's not my place to decide for someone. That said personally speaking I view for example a dropshipper as more of a hustler and someone buying inventory as more of a real business because the second person actually has some control over there business where as the first doesn't.
I think we can further break down a hustle into a side hustle. I do a weekly series every tuesday and thursday where we talk about different side hustle businesses. A side hustle is typically something you can start outside of your 9-5 job without a ton of money and something that works wtihin your schedule and free time.
I love side hustles as they oftentimes lead to a real business if done right, but you can get them started without a lot of risk or money
Thanks @rulesforrebels! I watch your side hustle vids. Some cool ideas. See my bud has websites that he has sold (Drop Shipping) based business. But right now he has no control over his business because he is at the mercy of his suppliers as you stated above. The same as anyone relying on eBay, Amazon, or other 3rd party sites to sell on.
You do not own the real estate, so you have to play their game,,,,,,,yet you do have supply.
It was eating me up man! Thanks for chiming in! You made perfect sense. :)
You hit it out of the ballpark with this post...I think our school systems teach us to be anything accept your on boss, setting our own paths...another reason to home school lol....some call it a 'business' cause it sounds more 'pleasing' acceptable to others..I know, you know it's a HUSTLE...straight UP! it's all about how hard you go at it. Call it whatever you want :)
That's also how I "Feel"! I can call it "My Business" as long as I am NOT employed by another and paying my bills from this venture. Thanks for reading and responding. :)