A good number of people have asked how they can turn their hobbies into profitable businesses. It is easy to understand why anybody would want to turn something they love into a source of income. After all, it is an open secret that ‘hobbies’ has made certain individuals very rich and famous. Just so we are on the same page, let’s give a definition – a hobby is any activity done regularly in one’s leisure time for pleasure. This could include playing football, singing, reading, writing, playing video games, swimming and the list goes on etc. In this article, we would look at some useful tips to turn your hobby into a profitable business.
Before I delve into this subject, allow me to state here that there is a chance that when your hobby becomes a business you may lose the fun feeling you derive from doing it. Hold on, Let me explain. When you see a footballer on the field, he might have started out loving the game but as he is pressed with the increasing demands of the coach, fans and all those around him, he might find himself unable to enjoy the game. Don’t get me wrong, I am not saying everyone that has turned their hobby to a business are unable to enjoy themselves. I am merely stating that you need to be careful not to forget how to enjoy what you do.
Permit me to share a personal experience.
I love to write, it gives me great joy to express myself through the written words as well as the spoken words. I was noticed by a prominent media house and was given an opportunity to write in one of their columns. Initially it felt very exciting to be paid to do something I loved. I would walk on the street and people would recognize me from my column, I was living the life – Rich and famous ( LOL ). But after a while, I wasn’t enjoying it any longer.
The deadlines and demands were beginning to steal all the fun. The excitement I felt when I put my thought down was no longer there. I was just hurrying to meet deadlines and standard practice. The pay cheque and popularity didn’t seem enough consolation. It was a constant mix of what the publisher wanted and how best to represent the brand. After a while, I decided I couldn’t continue.
It took the grace of God for me not to stop writing all together. That personal experience and a few other researches have exposed me to a truth – You can turn your hobby to a business and enjoy it however you need to get it right from the start.
I have divided this discuss into two parts. In this first part I would share on 3 steps that would guarantee you continue to enjoy your hobby even after you have turned it into a business and in the part two of this discuss we would go into the crux of turning your hobby into a profitable business.
Step One — Define the what.
As easy as this may sound this singular step would separate those that soar like the eagle and those that struggle on the ground. What do you want to achieve? Let’s say your hobby is making clothes, WHAT would be your definition of success in that area. You need to figure out WHAT you want to achieve. Do you want to make clothes that would make kings and queens patronize you. Do you want to have the most outstanding fashion house with hundreds of people under your tutelage. WHAT are you out to achieve (BTW – if your WHAT is to make money alone you might need to think again. Money is infinite and pursuing money as a WHAT will lead to dissatisfaction – Detail in my book, Click here ).
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