So… You Want to Turn Your Hobby Into a Business

Can you Turn Your Hobby Into a Business?

Everyone want to enjoy what they do to earn money. We are all different, and have different passions. Could you make your hobby your business?

The first step is to consider what you love to do and think about how it might benefit others, such that they would be willing to pay for it. Career coach Phyllis Mufson ays, ‘a hobby you can really enjoy can be an important part of choosing a career, because your hobby is a window into what you love and value and do most naturally, which are all components of a career in which you’ll flourish.’

More and more people are blending work and fun and turning their passion-projects into successful businesses. Regardless of what your passion or hobby is, there is a good chance that you can find someone willing to pay you for it. We live in a world where people are spending more on their lifestyle, and this is opening up more opportunities.

Hobbies are the things you choose to do, and while there is tremendous joy in doing the things you love for free, there may be monetary benefits to enjoy too. The chances are, you didn’t initially pursue a career related to your interests and hobbies, rather, you picked a job or profession that you thought would be lucrative. Nancy Collamar, a career coach explains; ‘It can be easier to segue into a hobby-related career when you already have many of the skills, experiences and personal connections needed for success.’ Now might be a good time!

Here are practical suggestions you may use to turn your passion or hobby into a business:

Educate yourself: as fun as your passion may be, the world is ever evolving. Find ways to keep yourself informed about your craft; find out the latest technology being used, study similar businesses and their successes or failures, look up experts in the field and learn from them.  

Create a business plan: a good business plan will give you direction and help you see clearly how you expect to make it from point A to point B. Even if it is just a basic outline of where you want to be and the steps you intend to take to get there, it will be beneficial. In doing this, you will identify crucial information, such as your startup costs and how to raise funding.

Raise funds: there are various ways to raise funds for your business; talk to your bank about getting a small loan or borrow money from relatives and other friends who believe in you and are willing to invest.

Market your craft: these days, there are no limits to marketing an idea or product. Use social media to get the word out, use online shops to reach a wider market, organize workshops where you can teach people your craft, speak or write about it, appraise, repair or fix items related to your craft. Getting the word out today is the easiest it has ever been. You never know who the next potential client could be.  Your website is integral to your marketing so to get started choose a good hosting plan from somewhere like freeparking.co.nz/web-hosting.

Team up: if you work well with people, that is! Find someone who is great at the aspects of the business that you’re not. Build a team that complement each other and leverage your passion by working through other people.

Joyce K. Reynolds, expert business coach, has these wise words to say; ‘we can’t all be Olympic skaters, NBA top scorers or real estate moguls. However, it can be taken as a promise that, if we follow the lines and design of our natural interests and loves, we will give ourselves the best chance to grow into the most successful human beings we can be. This will also ensure that we have more days we love, because we’re doing the things that most interest us, nourish us, and give us opportunity for true self expression expression.’

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