Have You Thought of Turning Your Hobby Into a Successful Business?

Have You Thought of Turning Your Hobby Into a Successful Business?

The idea of turning your hobby into a business can seem a little far-fetched at first, but actually every day those who are stuck in a rut at work chose to take the plunge and become self-employed.

It’s not simple, but it doesn’t have to be difficult. There’s a lot of work in it, but the rewards are well worth the challenge.

fraiche cofounder
photo credit: Robert Scoble

The first step

First of all, you need to do some research. You need to know exactly what service you are planning to sell. Are you planning on expanding your hobby of baking by selling cakes? Or set up a collectibles trading post? Whatever it is, make sure it’s something you enjoy. Businesses work better when those behind it are truly passionate about what they’re selling.

Devise a plan. What are your goals? What do you want to achieve? Set yourself realistic goals at first. You need to get a feel of the field you’re thinking of going into before making any judgements.

entrepreneurship infographic

infographic provided from Make It Cheaper

Make use of the internet

You don’t need to take the plunge and buy a shop just yet; try out your business online first. There are plenty of places you can set up a shop, such as Ebay or within online forums, to get your company and its services out there.

The internet is also a fantastic place to get information and advice for your venture.

Be prepared

Research your chosen field, and learn to know what customers want and what you need to deliver. You will learn the fine details of that during practice; but make sure you go into it knowing what to expect.

For the first few months – or even a year – things may be a challenge. You will need to be compiling what you sell and what you don’t sell, and learning how to build a good business. There will also be many late nights, so be prepared.

Ivan Widjaya

Ivan Widjaya is the Owner/Editor of Noobpreneur.com, as well as several other blogs. He is a business blogger, web publisher and content marketer for SMEs.