There is something pretty magical about making money doing something you love. Some of the most profitable businesses started out as a hobby.
Let me tell you a little story.
I have a friend, let’s call her Megan. Megan has always loved fashion and enjoys being unique and has her own strong fashion sense. She also loves using her hands and creating things.
Several years ago, Megan started making her own jewelry. At first, she made the jewelry simply for herself, to add that extra special element to her outfits. But making the jewelry only for herself to enjoy didn’t last long. Whenever she made something new, her friends and family members would also want that pair of earrings or that extra special necklace she had made. So she would make them one too and they would reimburse her for the materials.
From there, friends of her friends would reach out and ask her if she would make jewelry for them too. Hmmm….
One day, Megan posted a picture of a pair of earrings she had made for herself and her friends on Facebook. Within seconds, her Facebook friends were leaving comment after comment asking her how much these earrings were and how they could get their hands on a pair. Hmmmm…
Something shifted in Megan’s mind. A seed was planted.
She asked herself this question, “I wonder if I could turn my hobby of making jewelry into a side business?”
She took a deep breath and jumped! Her little hobby, turned into a side hustle, that quickly turned into a full time business. This full time, profitable business allowed her the freedom to quit her full time job and stay home with her kids fulltime.
Does Megan’s story sound anything like your own? Can you see yourself in a particular phase of her story? If your answer is yes and you have a hobby that you would like to turn into a business, keep reading. I have several tips for you.
#1 DO A SELF-CHECK
Spend some time self reflecting. Do you have the time to crank out your hobby product to create enough product to grow a sustainable business? Is your hobby something that you do to relax and recharge? What would happen if you started using this hobby to make money? Would it change how you feel about it?
A lot of people have hobbies because not only do they enjoy them, but there are no strings attached. Make sure and consider how it would feel to do your hobby so often and at a greater amount that it would become your job and not just something you do for fun.
After doing some solid self reflection do you want to take this popular hobby of yours and turn it into a business? If your answer is yes, move on to #2.
#2 MAKE A PLAN
A hobby is something you spend money on. A business is something that makes money. Simple as that.
Now that you know you want to turn your hobby into a profitable business, you need a plan.
A sustainable business never grows from winging it. If you want to turn your hobby into a profitable business, your first step is to make a plan. It doesn’t have to be a detailed, crazy, overwhelming plan. It can be a simple plan that maps out all of the basic, important parts of a business. Not only is a plan necessary to grow a sustainable business, but it will also help you to stay on track as you go along.
Want my “Simple Business Blueprint”? It’s a free download you can get by clicking the button below. I made it for the small business owner that needs a little extra help mapping out her business plan in an uber simple way. I also recorded a three part training video series where I walk you through each step of the blueprint. Click the button below to snag it!
Now that you have your plan, it is time to turn this into a business that makes money. Move on to #3.
#3 TURN YOUR HOBBY INTO A SIDE HUSTLE
I’m all for jumping in with both feet and chasing your dreams. I say jump and jump fast! Don’t over think and talk yourself out of it.
Now that you have a plan, it’s time to take this thing from hobby to business status.
I’m going to recommend that you grow your business starting out as a side gig. Don’t quit your day job just yet. That can come later, but for now you want to get this thing growing from a part time mindset. This will give you the time to create a more sustainable long term plan. It will also give you the freedom to try new things and learn and grow as you go.
The first thing you are going to need to do is make time in your life for your new business. I call this “White Space”. Remember that a hobby is something you do when you feel like it. But a business is something you are focused on and intentional about each and every day.
Next, get your very first paying customer. Making that first official sale will be a huge confidence booster. Trust me on this. If you are feeling nervous and anxious about turning this into a business, the first time someone pays you money for your product or service, you will feel like a million bucks. This first sale takes your passion from a hobby to a business.