Some hobbies are impossible to monetize, but others have huge potential as small businesses and profit-makers. If you can do something you love and get paid to do it, why not give it a try? But before you quit your day job, make sure that you know what you’re getting yourself into!
First, you’ll have to ask yourself if you really have the energy and stamina to turn your hobby into a viable business. If you love knitting, for example, can you see yourself knitting in enough volume to support yourself? In order to test it out, try dipping your toes in the water first. Work on monetizing your hobby during your free time and see if it’s really something you could see yourself doing full-time. If you decide to move forward, it’s time to start business planning. Reach out to contacts from college and from past jobs to nurture your network. Spend time on social media to learn about your target customer. Identify your target niche and find out how you can stand out from the competition. Take these first steps, and you’ll be well on your way to earning a living doing something you love!
Read the full article here: 6 Steps to Turn a Hobby Into a Small Business