Should You Make Your Hobby Your Business?

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Many people are turning their hobbies into deposits in the bank. Starting an at home business not only gives you the freedom to work when you want, your also doing something you love and already know how to do!

Whatever you are doing outside of your 9 to 5 gives you happiness and passion, then why not let it make you money too?

For me writing is my true passion. It’s something that I love and is putting coins in the change purse. Sure I love my full time job, but writing brings a sparkle to my eye.

So, first things first….

You have to ask yourself a few questions before you decide if making your hobby into a business is a good idea.

Will you be able to continue to enjoy your hobby if you make it into a business?

Things change when your hobby becomes your business. You will have to deal with meeting deadlines and dealing with customers. Managing your financials and marketing your product is a must. That kind of pressure can lead to you not enjoying it at all and just calling it quits. Will you be able to handle the workload and still love your hobby?

Can you make money off of your hobby?

This is one of the most important questions. Will people pay you? Do some research and see if it is a high demand for your hobby. If you love baking do you know if it is a high demand for a cake baker in your town? Love to paint? Anyone have any paint classes in your city? If not, I think you got a winner!

Have you written out a business plan?

A business plan will give you an overall visual map of your goals and what you are trying to achieve. Business plans consist of your mission statement, executive summary which is a quick overview of the problem you solve and how you will solve it, company overview, and products and services. ( Sounds like a lot but it’s not hard.)

Now that you have made the decision to monetize your hobby. How do you go about making money from your passion?

1. Teach others how to do your hobby. Offer cooking classes , or violin lessons. You can teach at a continuing learning college or hold your own classes.

2. Start a Blog! Write about it! This is always a cool one because you can work with affiliate companies in your niche and make money. You can make a blog for free using sites such as WordPress or Blogger. Don’t worry about building an audience, as you write your content you will have followers in no time!

3. Are you very arts and crafty? Do you know how to make something?Love to take pictures and have an eye for photography? Know how to sew or make jewelry? Whatever you have a gift in making you could be doing it for a price.

Owning your own business has so many perks. From working for yourself to the chance to have financial freedom is worth the effort alone just to try.

1 comments on “Should You Make Your Hobby Your Business?”

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