You’ve probably seen at least one version of this advice floating around the internet:
“Three Hobbies” has always bothered me, for two reasons.
The first is that for those of us running our own businesses, the distinction between a hobby and a business is super important. If you want to write off your business expenses on your tax return, for instance, you’d better make sure the tax authorities don’t deem your business a hobby! (I’m not going to cover this in any more detail here, but do check out the link above for more details on the critical difference between a hobby and a business.)
The second issue is that “Three Hobbies” is INCOMPLETE, almost to the point of irresponsibility, when it comes to business owners. We know how common burnout, anxiety, and depression are among entrepreneurs. While running businesses, we might also be exercising and creating obsessively… all while totally disconnected from other human beings, or a sense of connection to what is driving all this activity in the first place.
And so I’m trying on a slightly different system for cultivating — as in, actually practicing — a balanced life. Continue reading “Focus on Five – a system for practicing a more balanced, contented life”