Have you been feeling stuck in your horse business but aren’t sure what it is that’s keeping you there? Most likely, you’re treating your business like a hobby. In this episode, discover the three key areas that set apart equine business owners from horse hobbyists. In other words, these are the areas you absolutely must treat like a business if you’re going to build a successful equine business.
Welcome to the show notes! Remember, this is a brief summary from the How to Market Your Horse Business podcast. You'll want to listen to the entire episode for all the good stuff!
I’ll almost never say there is “just one thing” you should do to experience success in your horse business when it comes to marketing or otherwise.
That’s partly because success is subjective and personal to you. And, partly because there are many paths to get to the goals you have in mind. It’s imperative you find the path that fits your goals, your season of business, and your capacity.
However, there is one thing I do believe nearly every equine business owner would do well to consider.
It keeps you from using a separate business account for your transactions.
It keeps you from investing in yourself and your business.
It keeps you from saying no to the people who aren’t a fit for you.
It keeps you from believing you can make your big dreams happen.
Horse business owners struggling to get real, sustainable traction in their business often aren’t operating as horse business owners at all—they are treating their business like a hobby.
Here’s the question I want you to ask yourself:
Are you an equine business owner, or are you a horse hobbyist?
You may be providing products and services so it looks like a business on the outside. But, on the inside, you’re not making decisions from the perspective of a business owner.
You don’t have profit in mind, you aren’t continuing to grow and learn, and you are only working in the business rather than on the business.
So, how do you make the shift?
First, it’s an internal mindset change. You need to find the fear that’s keeping you stuck and work through it.
And then, evaluate the following three areas to see how you can make the necessary adjustments to treat your business like a business. As you embrace your role as owner and entrepreneur and make these changes in your business, you will begin to see the needle moving in the direction of your dreams.
3 Areas That Set Equine Business Owners Apart from Horse Hobbyists
Operations
This is essentially the day-to-day running of your business.
Do you have a system in place for onboarding new clients?
How are you booking appointments and communicating with clients?
If you have a team, are you embracing your role as a leader and developing your team members, creating clear expectations, empowering them to carry out the vision and mission of your business?
Is there a documented process in place that someone could pick up and follow if something happened to you, or you needed to take a leave of absence?
Finances
If you want to build a profitable business (and, you do), then you need to be tracking expenses and income.
Do you have a way to create reports that will help you evaluate what’s profitable and what’s not? Or, who has an outstanding balance?
Are you investing in your business to set you up for the long-term?
Look at numbers as data. They should inform your decisions. Yes, as the business owner, you get to make the decisions. But, don’t make them blindly.
Marketing
When you treat your horse business as a business then you begin to understand marketing is not something to be approached hap-hazardly or without much thought.
It doesn’t have to be difficult. It can be simple. But, it needs to be strategic so that you get a true ROI from the time and money you invest into marketing your equine business.
It means that you realize YOU are a marketer because you’re a business owner.
And you make the choice to find a plan that works for you and stick with it.
Here’s the honest truth: If you treat your equine business like a hobby then you run the risk of either burning out or reaching a point where you just can’t do it anymore financially.
On the flip side, if you treat your equine business like a business then you will do the things necessary as a business owner that will allow you to continue doing what you love in the equine industry for the long-term.
Of course, you'll want to listen to the full episode to dig into each of the insights shared and discover how you can apply each one in your horse business!
Links Mentioned In This Episode
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