Every day I’m amazed by the number of people that I run into that hate their jobs, have a really killer hobby, and still feel like they have no way out of the rat race they have got themselves into.
The reason this amazes me is because I believe that when you have a gift, or fascinating hobby you enjoy, the natural inclination is trying to figure out a methodological way of turning it into a business so more people can enjoy what you are creating or providing.
If you have a hobby that you would like to turn into a business, check out the following five points below that can help you row towards that direction.
1. Mindset: Don’t Stop Loving What You Do
First and foremost, you must promise yourself that you are never going to stop loving whatever it is that you are currently labeling as a hobby. When you start turning what you do into a profit making endeavor, there is a chance that you can allow the monetary aspect of things to overcome why you started your hobby in the first place.
Remember: the best type of work out there is that which involves doing something that you love, feeling as if it is not even “work”, but still getting paid for it by other people that believe in you or what you have produced.
2. Sharpen Your Skills: Work on your hobby everyday
Now that we have the mindset requirement covered and solidified, keep on working on your hobby with the purpose of providing the best of you possible. Whether you are a knitter, musician, jewelry maker, singer, cosmetic based artist or creator, inventor, or even if your hobby is programming, the goal now is to make sure you work on your hobby every day, with the purpose of sharpening your skills and becoming the best you can at it.
You must set time each day to either work on your hobby, read, or investigate about all the different aspects of your hobby. Just 15 minutes a day is enough as long as you are doing something geared around your hobby. But also remember, moderation and balance is the key here too.
3. Continue to Grow: Be more open minded and tenacious
Now that you are working on sharpening your skills independently, this is a good time to share your hobby with others and allow yourself to hear constructive feedback. The more exposure and motivation you have to work with different people and fields, the more well rounded your hobby (soon to be business) will become.
Even if you really don’t know what industries you are going to work within or who your ultimate target market will be, this is the time to figure things out.
4. Find a Mentor: Find other people that are making a living based on your hobby
Finding a mentor can be a hard endeavor, but once found, this person or community of people will be very positive.
Having someone to talk to that has the business sense or more refined approach to what you want to end up doing with your hobby is ideal. The right mentor will want to share experiences with you, listen to you as a friend and supporter, and be able to advise you so that you don’t fall into the trap of others that do not have a seasoned mentor to partner with.
5. Plan Your Next Steps: Create a Business Plan
The next thing to do is to create a plan with your next steps. Now that you have the mindset, more of a refined understanding of what you want to do with your hobby, and have the exposure to potential clients and mentorship, you have all the arsenal necessary to write a business plan.
Don’t worry if you don’t have all the specifics laid out. This plan will be a living document throughout your business endeavor. Just make sure you have all the elements with the strongest framework for your business plan laid out, and plan away!
Simply said, after you have a plan with what you are going to do, for whom, and for how much with all the financials more organized, you will be able to actively follow it and continue to evolve as a passionate entrepreneur.
Just remember: You CAN do this!
If you want us to be your partner in figuring out how to turn your hobby into a business, please feel free to reach out to us! We intimately understand the need for intelligent management of resources required to build sustainable operations and would love to hear from you!