It’s easier than you think!
What do you like to do? Is writing your passion? Do you love garage sales and can’t imagine a Saturday morning without them? Maybe you have a real talent for cooking. Perhaps you love to use a computer and have found that it comes easy to you. If you have something that you love to do and seem to be good at it, it is truly possible for you to turn that hobby into a real career.
If you think it’s possible that you want to turn your hobby into a career, you should start with a realistic business plan. Map out how you will start your business and where you want to end up so you will feel and be successful.
I have a friend that turned a hobby into a business. She is a multi-faceted individual! She always had a love of garage sales and found herself with an excess of garage sale stuff that she realized she would never actually use. That’s when she found e-bay!
She started selling her stuff on e-bay and found that there was a real market for some things. It became an obsession. The more money she made, the more she became obsessed. She is now a Power Seller on e-bay and enjoys a nice side income with her full-time job.
The thing about getting started with making a hobby into a career is to find a market and then capitalize on it. Have enough inventory on hand and then start selling what you create. E-bay and Let Go are wonderful places for people to start selling handmade wares and has provided a nice living for people who take the time to place their auctions up for sale.
You must have something that makes you stand out from your competition. That applies to businesses on e-bay or on your own. Think about providing an additional service or some extra that will make it worth the buyer’s time to purchase your product. Many a successful business has been successful just because they go that one extra step that makes them stand out.
Networking can be very important when you are trying to grow your hobby as a business. Try speaking with a local business and see if they will be willing to partner with you in sales. You give them a commission and they carry your product or mention your service in their store. Not only does this give you a market share in your locality, but it helps spread the word about what you are making and selling.
Remember that if you are self-employed, you should be putting some of your profits away to pay self-employment taxes. The last thing you want is for the government to come after you for the taxes that you should be paying. While there are income guidelines as to what you are required to report to the IRS, you still want to be prepared. Consult with your local Accountant for more information.
The thing about making a favorite hobby into a business venture is to be sure that you will still enjoy it even when you are making hundreds of them a week. Be prepared for popularity and know that you will still love doing what you do after you are successful.
The best part about making your beloved hobby into a business venture is that you will be your own boss! You can work when you want, rest when you want, and enjoy the fruits of your efforts. Sometimes it might be overwhelming, so be sure that you have what it takes to withstand the pressure and continue even when you’re not really sure you want to!
Don’t discount the experiences of others. There are plenty of people who have made millions of dollars just by taking something they love to do and turning it into an empire (so to speak). Read up on them and take the advice that they have to give. It’s always nice to have a mentor, so capitalize on their mistakes and successes and then learn from the mistakes while embracing the successes. Model your own home business on those who have found out the secret to making money without sacrificing your sanity!
You will also want to look into government grants that are available for small businesses. Check online for places that will entertain your request for funds to start your own home business. The government is very happy to offer up funds that will help everyday people start their own business and you deserve those funds just as much as anyone else!
Turning a hobby into a business can be a very amazing way to not only generate cash for yourself and your family, but it is also a way to allow you to work from home and do what you love doing. I’m not sure anyone would turn down free cash so that they could work a job that they love and on their own terms!
For more information on starting your own business, contact me. Allow me to coach you through starting your own business.