Make Your Hobby Your Dream Job
Mel @ brokeGIRLrich / October 12, 2021
“Doing what you love means not working a day in your life,” so says the old saying. But after a while in the workforce, it’s clear that loving your job and earning money from it isn’t as simple as chasing your dreams.
If you’re planning to ditch your regular 9-to-5 and turn your hobby into a business, proper planning is necessary. And honestly, that can prove harder than most people anticipate. So here are some pointers to kickstart your journey:
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Start Small
Financial stability is crucial when you’re transitioning from hobby to business. So for starters, ensure you have savings for living expenses that can last you a few months, besides the money you’ve set apart for business startup costs. This safety net will help you through the initial stages.
Starting your business while keeping your current job can also be beneficial. This side-by-side journey can give you insights into your product’s market demand and the effort it takes to deliver it. Furthermore, it gives you time to gather any certifications or qualifications you might need, like online fitness certifications.
Yes, juggling two jobs can be taxing, but it’s an effective way to test if you’ll still love your hobby when it becomes a source of income instead of just a passion-powered activity.
Networking
With social media, connecting with likeminded individuals has never been easier. It’s a big boon for budding entrepreneurs! Platforms like LinkedIn, Facebook, and Twitter can help you interact with people in your line of business from the comfort of your home.
Just remember, not everyone will be eager to share trade secrets with potential competition. Be tactful. Build relationships before you start asking specific, business-related questions. You’re forming a community here, not freeloading on others’ hard-earned wisdom.
Carry out Market Research
Try to figure out what your competitors are charging for similar products or services. Online communities, marketplaces, and real-life contacts can help you get a sense of this.
Understand the marketplace and where your business fits in before you dive in. What do your competitors offer? What need does your service fulfill that theirs doesn’t? The main goal is to figure out how to stand out from the crowd.
Get out there and start sharing your new enterprise!
October 12, 2021 in Earn More.