Turning your hobby into a career.

Turning your hobby into a career.

 

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Imagine your very favorite activity. Maybe you love to knit or sew. Maybe you’re obsessed with movies or theatre. Now, imagine quitting your day job and getting paid to do the thing you love the most. Most of us would love the idea of tuning our hobby into full-time jobs. Sound great right? But making the actual leap forward takes careful planning and a lot of work.

Unless you’re someone who has deep pockets that you can use to fund your hobby/job, quitting your current job is not possible. Money is important. We can’t deny that. We all have bills that need to be paid. One should also make sure that you have the skills necessary to succeed at your job. Whether you want to be self-employed or go work for the company of your dreams, it will not happen overnight.

Questions to ask yourself:

  • Will having a deadline affect your interest?? For some people, their hobby is a long-term project. They do it to because it is a way to express themselves. If you are looking to make money by selling or showcasing your work, the speed at which you do it will be different. Is that ok for you?
  • Will you enjoy doing it when it means that if you don’t, you probably won’t have a roof over your head? If you think that turning your hobby into a business will give you the same level of satisfaction as it did when you did it to leisure, you’re in for a surprise. Simply knowing that if you don’t make another widget, you won’t be able to pay your electricity bill, could tip the scales. Are you ready to grapple with the difference between doing something for fun and doing it as a business?
  • Are you really committed to this hobby? Perhaps you simply do it to relax. Thinking it’s your true calling if it’s something you only do to wind down could mean you’ll get distracted, or that another idea will take your fancy.
  • Are you inspired by a challenge? There’s no doubt about it, starting up will be tough, especially if this is your first business. You’re probably going to be doing a lot of work like actng as accountant, manager, CEO, Brand ambassador, sales person and so on. This is where you need to understand about the skills needed to be an entrepreneur.

The second step towards this is:

  1. Research. Learn as much about the industry as you can. Get to really know The space and the niches within. Take the time to understand the players and grasp how they think.
  2. Evaluate. Once you understand the space, you should take some time to re-evaluate the quality of the idea. Don’t be afraid to be hyper-critical. Solicit ideas from others. Sometimes the idea is terrific, and other times, it just requires minor tweaks. Make those tweaks before fully entering the market—and understand that, for most entrepreneurs, this is a process, not a single final product.
  3. Develop a plan. As you develop a business plan and a roll-out plan, and think about each step along the way, and what you will need to take each step. Plan to have the information and resources you will need at each marker. You will need a team to ensure that your plan is comprehensive and that you have touched on all the main issues.

 

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