Whether it’s an afternoon of baking, a few hours spent painting or crafting, or a lazy day of fishing, our hobbies bring us happiness and can be a great way to relax and rejuvenate after a long week at work. It’s natural for most people to dream about turning their hobby into a full-time business; after all, who wouldn’t want to make a living doing what they really love?
The good news is that turning your hobby into a business doesn’t have to be impossible. Today, with a huge wealth of tools right at our fingertips, starting a business has never been more accessible to everybody. But to run a successful company, you need more than just being passionate about what you do and the skills to do it well. Building a business that succeeds takes a lot of commitment, planning, and the right attitude. Here are some tips to help you get started.
Understand Your Goals
Do you want to start a full-time business so that you can completely quit your day job and live off the proceeds of your company instead? Or, are you happy to continue going to work, but just want to make a little bit of extra cash on the side to put towards new purchases and having fun? Bear in mind that the more you will need to depend on the income that you get from your hobby business, the harder you will need to work.
Come Up with Different Options
Chances are, there might be several different ways in which you could make money from your hobby. For example, if you are an artist, you might be able to set up an Etsy store and sell your original art and art prints for money, or on the other hand, you could start an online course and teach other people how to paint using your favorite techniques. If you decide that you want to teach, you’ll need to spend time creating a course and figure out how you are going to provide it to your clients; usually, digital downloads are a great way of doing this, so check out PayHip if you want to go down this route. PayHip allows you to easily sell digital downloads as a one-time purchase or on a subscription and works for courses, eBooks, music and much more. This service can help you sell digital downloads, so start here.
Make Sure You’ll Still Enjoy Your Hobby
It’s one thing to do something purely for fun, and quite another to do it to make money. Creating a business from your hobby might mean pleasing demanding customers, meeting strict deadlines, and doing your hobby on days when you don’t really feel like it. You’ll also need to manage the business side of things, like finances and marketing. Before you start, make sure that you are passionate enough about your hobby to be able to juggle all this and still like doing it.
Get Really Good at What You Do
In order to turn your hobby into a successful business, you need to be really good at it. So, if your skills could use some improvement, don’t jump straight into creating a business out of it yet. Come up with a plan for improving them as you continue to work at your day job, and put off launching your business until you are ready. Not only will this help you get the results that you need, but you’ll also be able to make the switch from hobby to business more confidently.
Adopt a Business Mindset
Successfully turning your hobby into a lucrative business means shifting the way that you think about it. A hobby is something that you do for fun and at your leisure, but when you turn it into a business, it becomes work, and you need to show up to work. Whether you’re still working as an employee or have quit your day job in order to pursue your hobby business full-time, you can’t carry on thinking of your hobby as purely something that you do for fun. Start to consider it your job and make sure that it becomes a top priority.
Create a Consistent Brand
Finally, coming up with a consistent brand is crucial for marketing and business success. Your brand is your business identity, and having a strong brand helps your loyal customers recognize your business and what you do, just like you immediately know you’re near a McDonald’s when you see the golden arches. Your visual brand is important, so spend some time coming up with a logo, business name, fonts, and color schemes that reflect what you do, and make sure that you use them consistently on your website, social media profiles, advertisements, and other forms of marketing.
Turning your hobby into a business definitely means living the dream for many people. But before you switch from doing it for fun to doing it for a living, there are a few important changes you’ll need to make.