‘Find something you love to do and you’ll never have to work a day in your life.’ This is a quote that is attributed to several authors. Now, I will not delve into figuring it out, of course, but I want to rescue the value of the quote. Isn’t it so beautiful when you are dedicating your mind and strength to what you love and then getting paid for it?
Now, you probably are in the hobby phase already. You are crafting art or producing products that you love making. If you are bohemian enough, you are probably convinced that your art is so pure and genuine that selling it for a profit is simply a banality. Well, there is nothing banal in bringing food to your plate.
You can still work with your passion and craft and make a good profit out of it. So now you are crafting with a purpose and probably in greater amount, which is a great thing. This is Carol Greenway – Business Coach and today I’d like to share some tips with you on how to turn your hobby into a business.
Situations that Push You
Life is so full of surprises and emergent events. You probably find yourself in a difficult financial situation. Perhaps you are cut in a dead-end job religiously doing the 9-to-5 and every month, the same story – you are struggling to make ends meet.
Doing what you love and making money from it is something we all aspire to. Unfortunately, most of us need situations that sometimes are borderline dire to wake us up and get us to move. But in the end, you wind up turning something bad into something good.
At this point, if you are not in a stressful situation but would like to be just like the first sentence on this article, you are still interested in kindling that fire that will make stir you up to do what you love and turn it into a business.
I have heard one too many people complain that turning what they love into a business was actually not a good idea as it turned out that they stopped loving it. Mainly because a pleasure was turned into work – having to get up early, meet expectations, having clients, etc., did not turn out to be as sugary as they would have wanted.
So, should you turn YOUR hobby into a business? Ask yourself the following questions:
Are you committed enough to this hobby?
Are you up for challenges?
Can you sell what you offer or what you produce?
Will you still enjoy the hobby even under the pressure of deadlines?
Can you live with the fact that this is your income source and stopping to do so will mean that you will no longer have a roof over your head?
Things That You Should Know
Now, I am not going to sugarcoat it for you. This is business and business requires dedication and hard work. You get your satisfaction, though, from the results you get. You might be surprised if you think that once you turn your hobby into a business it will stay as fun as when you only did it as a hobby.
If this hobby is actually only a distraction, then you should try to find your true passion. If what you are doing is not it, you will get distracted.
At first, you will meet several challenges in your business – your one-man business. This new organization requires a CEO, an accountant, a customer service rep, all of which will probably be played by you.
Think you don’t have the “business bug”? Well, get it or keep on with your current job. Make your hobby something sellable, something that people are willing to pay money for. Change your view of things. Get the entrepreneurial language so that whenever you see someone in need of the services of products you are offering, you offer them a business card.
Nancy Coleman, a speaker and coach I admire, gives six suggestions for starting a business.
- Teach others what you know and love. This could be guitar lessons, marketing, how to’s, etc. The internet offers several platforms for you to do this.
- Teach others how to make business out of the hobby. Let’s say that you love to cook and have a background in marketing. You could teach people how to promote their cookbooks.
- Make a tour or performance of what you love. Do you love your city? Create a bike tour for tourists.
- Write or speak about your hobby. Do you love pottery? Write a book about and publish it on Amazon.
- Repair or appraise items related to your loved hobby. People have hobbies with stuff connected to them. Appraise or repair those. Repair bicycles, motorcycles, computers, or any other rare item.
Once you have your idea set, it is all a matter of establishing a business plan and a strategy. Good luck with your endeavours!