When it comes to working, we often struggle at finding jobs and moreover, jobs that make us feel truly happy. Many of us stay in our jobs because it pays the bills and nothing else.
Without a doubt, you want job security, all while utilizing and developing your passion or skill. you want your job to not feel like work.
But how do you go about achieving such business like utopia?
It all starts with your hobby. For instance, if you like to travel, start a travel blog or vlog. Or if you like to cook, make live cook sessions with the recipes available online. Of course, this will all acquire a cost.
Questions asked about the partnership of my hobby as a business venture
How can I monetarily benefit from my hobby or hobbies? Do I have enough passion for this hobby or these hobbies to even pursue it as a business? Do I have the patience or diligence that comes with making my hobbies or hobby into a grandeur business? Hmmm.
I know these thoughts must have plagued your mind at one point or the other. It is simply because of the uncertainty that comes with everything basically.
However, you have no need to be fearful or be in doubt. This article is the wand of light. The wand that will guide you and your hobbies to the business pinnacles. I am certain of it.
Let me remind you of what a hobby is before coming up with a business plan or a business venture.
Or perhaps you have some old jewelry sitting around and you want to turn it into a little business?
What is a hobby?
A hobby is something you do for enjoyment that is not considered to be a nine to five. It is done outside of work hours or sometimes during. So how to turn my hobby into a business?
Why turning your hobby into a business should not be a stretch
Nonetheless, turning your hobby into a business should not be a stretch and here are the reasons. Firstly, you would have already been somewhat proficient or competent in the area or discipline. As such, you would not need much training. Secondly, you could utilize that time in marketing and finding new clients.
Is turning my hobby into a business really worth it?
As mentioned earlier in the article, a hobby is something that you enjoy doing. In making your hobby into a business, you need to make sure that it will not take away from the fun or the peace of mind you would get.
This is because once the change has been made from fun to financial, then your hobby will lose its satisfactory feeling or enjoyment.
However, you may end up disliking the business and losing one of the only possible things that made you happy.
With that said. If you truly love your hobby and want to make a flourishing business from it-then go ahead and reach for the stars, moons, and the galaxies if you like.
Is there a market for my hobby to become a business?
I know it would be frustrating to have a business and not have a market for it. And as such, prior to turning your hobby into an official business- it is recommended to do some research.
The research will be your guide for the market. This is so as not everyone will love your hobby, and if you have to merge your hobby with what is in demand- then you simply do so or not.
This is for you to simply learn more about your potential clients.
Identify and Make a Business Plan
You do this by conducting a little research to fully understand how you can or should be making money and how to get your business off the ground.
After you have acquired this knowledge, you find a mock plan that suits your personal liking.
If and when you have decided to move forward, then you create a business plan. This plan must outline your goals and what you want to achieve.
Please, don’t skip this part thinking you can commence your business without anything thought out.
You cannot rely on your thoughts floating about in your head because you think you already know everything about your hobby.
Note: taking your business to the next step will require constant planning and assessment.
Market… Market… Market…
We all want everyone to support and buy whatever product or service being offered.
While we are grateful for the sales from families and friends or friends of friends, that simply will not make the cut.
We all want or desire for our products to be demanded by the public.
So, here is a secret in getting or acquiring such success.
The secret to obtaining such success in your business comes with marketing, marketing, and more marketing.
You might be thinking to yourself, “Was that really the secret? But this is something I somewhat knew already.”
If it is something you knew already, give yourself a pat on the shoulder.
Here are a list of marketing strategies to implement or use:
1. Social Media as a Marketing Strategy
We are in the era of social media and connectivity.
This brings us together despite how far we are – from services to products to simply socialising; it is one of the most convenient tools for all mentioned and even more.
For instance, Instagram is one of the most famous social media platforms.
Most times when you are online you are bombarded by sponsor ads- whether it is on the newsfeed or by watching stories. In essence, people use the platform as a marketing tool to target people.
So, you could take that same approach in publicising your business.
2. Social Media Influencers as a Marketing Strategy
Social media influencers are individuals who are popular and have a large fan base. As such, they will have a lot of traffic of people flocking to their accounts or pages.
Also, when using a social influencer to market the product or service- ensure they are representative of the brand.
Social media influencers have an access to a large audience and can easily coerce others by their genuineness and reach.
This way, people will automatically want to wear or buy your product or use your service based on the enormous effect the influencers have and the credibility they have established in the cyber industry.
3. Social Media Influencer Scenario
For example, Beyoncé Knowles Carter has a partnership with Adidas. And whenever she releases new products from her Ivy Park line- other celebrities receive and are seen wearing them online.
This helps to increase the product’s presence and undoubtedly its sales.
So this is something to consider or put into practise when you have decided to turn your hobby into a business.
It doesn’t have to be someone who is a celebrity. You simply need someone who is popular and can bring forth customers.
4. The Good Old Word of Mouth as
Because we are in the era of social media and technology- many have forgotten about the conventional mode of marketing- the good old word of mouth.
Many underestimate its hurriedly nature and influence as words do get around.
You would be surprised.
Good word of mouth reviews paired with promotion will boost your hobby turned into a business.
Do I need customers when I have turned my hobby into a business?
You may be wondering to yourself, “Of course I will need customers. I am not making a business for myself, family or friends but the world.”
And you are right, but it is more so vital for the long term success for the business.
Remember you are already certain of family and friends as costumers which may have led to sales. But now it is time to get actual customers who can validate your products or services.
You may find it difficult to find these customers but with good marketing, incentives, and promotional discounts among others- you are sure to keep them all while building.
Remember to always have inclusivity with your brand, product, or service.
With the right incentives, you can make a name for yourself and work out any problems that would discourage less interested customers. Once you have customers remember that customer satisfaction should be your top priority, because it influences your revenue a lot.
Find a Mentor
It may take some time to get your business off the ground. So it is advised to get yourself a business mentor.
This is someone who will guide you through the business process as well as the dos and the don’ts.
The mentor does not need to be a friend. It can be a colleague or even an entrepreneur.
Keep in mind that you should not force the mentorship. It is something that you should allow to happen naturally.
Also, have an open mind or willingness to learn and to showcase your growth through whatever medium.
Reminder of how I can turn my hobby into business
With all that said, the decision is yours to make whether you see it fit to make your hobby into a business.
And here is a quick reminder just in case you have forgotten.
Here are the reminders: get yourself a mentor, ensure that you use market, market, market your product and service, the need for customers, identify and make business plans, and research the business market.