What do you love to do in your free time? Do you have a hobby that you are exceptionally talented at?
My goal today is to challenge you to monetize your passions to create a profitable business venture that you love.
You may be thinking, “I have no idea how I would monetize my hobby…” and with that, I’d argue you most likely can!
There are some hobbies that may be a more obvious choice for this. For example:
- Jewelry making
- Baking
- Drawing
- Painting
- Carpentry
- Candle Making
However, don’t forget about services. For example, say you love the outdoors. All week you just can’t wait for Friday so you can spend the entire weekend kayaking, hiking, fishing, etc. Many would look at this as just a hobby, something to enjoy when you are not working, but it could never be a job. Here is a list of ideas on how to turn this passion into a career:
- Teach fishing lessons
- Do kayaking tours of the area
- Guide weekend long camping trips
- Lead hikes
- Sell your expertise and help others plan trips
- Teach a camping 101 course
Okay, now that we have covered that even if it’s not obvious, it’s not an impossible business venture, let’s get into it a little more!
1. Create a Game Plan
Starting a business with no plan is never a good idea. Jumping in aimlessly will often cause a burnout when things don’t go how you had hoped them to. Here are some good questions to be asking yourself in the beginning stage:
- How do you plan on making money?
- Do you have the resources to start? If not, how will you get them?
- Where do you plan on selling your products or service?
- Do you have the time? If not, how will you make the time?
- How do you plan to market yourself?
- How do you define success?
Having an idea of the game plan going into this is extremely important. However, allow tweaks along the way! This is all completely new to you.
2. Make a Sale
This seems obvious, but actually making your first sale is a huge deal! It means there was someone who loved your product or service enough to put their own money towards it. Hopefully this is an encouragement and motivates you to continue to make more sales.
3. Market/ Build a Network
This is the part of the process that can usually burn people out. Marketing yourself or company is a challenging and daunting task. Consistency is key. Being consistent with not only your posting on social media, but also your messaging and tone. Also as cliche as it sounds, just being yourself! Being yourself will allow for a transparent and consistent line of communication between you and your audience. If you are consistent, your audience will trust you and trust is an invaluable marketing tool.
When people begin to trust you they will love to support your business and hopefully even do some of the marketing for your company by promoting you to their friends and family. As mentioned before, trust is absolutely invaluable.
4. Make the time
Making your hobby into a profitable business is definitely going to take some time. It most likely won’t happen overnight. It’s important to set aside the time to work on this business venture.
Maybe you have a full-time job or maybe you have little kids? Finding time to work on this will most likely be a challenge. Get creative with it! Here are some way to find time with an already busy schedule:
- Wake up an hour early
- Work during your lunch break
- Include your family!
- Use weekends wisely
Time is of the essence. Why waste is doing things you hate? If you have something you love and are passionate about, share it with the world! I’m sure there are people out there who are just as interested or wanting to learn.
Wouldn’t life be a dream if you spent it doing what you love?
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