Business, Hobby, or Required Responsibility? (Video)
We do many things. Most, perhaps all, can be divided into three areas: business, hobby, or required responsibility.
The business area includes everything that we do for others that they are willing to pay us to do. If we have a job, we get a paycheck in return for what we do. The work we do has value to our supervisor or the company where we are employed. If we are self-employed, our customers pay us to provide goods or services because these goods and services are valuable to them. In my case, people pay me to speak at their conferences and they pay me for my book.
The hobby area includes those items that we do because we enjoy them, but no one is going to pay us to do it. Or, they will not pay us very much. Something to keep in mind is: “Businesses are in business to make money. If it does not make money, it is a hobby, not a business.” (This is the best piece of information I learned at the University of Louisville when I got an MBA.) I love to hike, but no one is going to pay me to go hiking.
Required responsibilities are those things that we are responsible to do for ourselves. This includes everything from feeding ourselves to cleaning our homes to taking care of our pets and/or children. No one will ever pay me to clean my own house; it is my responsibility. And I will never pay someone to clean their own house; that is their responsibility.
With required responsibilities, it is our responsibility to see that they are done. We can do them ourselves, or we can hire someone to do it for us. We can clean our house, or hire a housekeeper. We can mow our lawn, or hire a lawn service. It does not matter which, so long as it is done.
How would you divide what you do? What tasks are business, what are hobbies, and what are required responsibilities?