Everyone wants the chance to do what they love and make a living off of it. Unfortunately, most of us do not see how it can be possible. In some cases, that might be true. However, in the majority of instances, all that is standing between where you are now and where you want to be is a little bit of confidence and a lot of creativity. Learning how to turn your hobby into a business is the first step.
How to Turn Your Hobby into a Business
Step One: Determine what you love to do.
Okay, so this part sounds easy enough, but it might be the hardest. We all enjoy a number of different things, and not all of them have business potential. On top of that, we don’t want to select something we like but aren’t passionate about. You have to survey your life and figure out what exactly gets you going.
Step Two: Determine which facets of the market interest you.
The chances are good that the things you love have multiple facets within the market. What does this mean? Let’s take jewelry making for example. One facet is selling the jewelry you make. Another facet would be teaching others how to make their own. Another would be selling the supplies for other jewelry makers to come and buy. Another still would be showcasing and selling pieces made by other artisans.
Step Three: Make a plan and go for it.
You do not want to hesitate too much—be confident! Yes, you need to think it through, but overthinking it can be just as problematic. Figure out where you are going to sell your goods or service, how you plan to market it, and make your budget. This is where you will need to do some research and get creative. You will likely need to keep your day job, at least at first. But before you know it, you will find your business prospering.
A Word of Caution
Before you jump into making your hobby your business, ask yourself if you will still enjoy doing it once there are deadlines and outside expectations to meet. You do not want to destroy your love for the process just to make money.
Have you turned one of your hobbies into a business?
July 27th, 2015 at 5:36 pm
These are great tips!! I love when people are able to take what they love and make it a business!
July 28th, 2015 at 7:24 am
Great tips for turning your hobby into a business! I love refinishing furniture and building things, have yet to try to turn it into a business, just a hobby for now – perhaps someday!
July 28th, 2015 at 9:42 am
My biggest hobbies are reading and listening to music. I have never tried to turn either into a business, I like them just for relaxing.
July 28th, 2015 at 10:25 am
Places like Etsy and Craftsy are so fun to peruse. The talent most people have is well beyond anything I could make on my own.
July 28th, 2015 at 10:27 am
Taking the plunge to take a hobby to a business can be hard, and it doesn’t work for everyone. But if you have good products and a great plan it is do-able for sure. I know there are tons of people out there who would love to do this.