They say that if you find a job doing what you love, you will never have to work a day in your life. Regardless of how cheesy that may sound, there is some truth to it. Not many people can say that they enjoy their nine to five job, especially those unfortunate enough to have to spend their working hours in a cubicle, grinding away towards retirement.
It’s Not A Hobby Any More
Before we start, a word of warning. The moment you start making money out of your hobby and rely on it to provide you with a living, it isn’t a hobby anymore. It is a job and you need to treat it as such. There will be times when you will feel the same about it as you would about any other job, regardless of how much you enjoy doing it. Some love and passion will be lost in the process and you need to be prepared for it, or you will be disappointed once you discover that it is getting hard pushing yourself into doing it.
Preparing for The Business Aspects
This one is especially important for people who have never owned their business. If your only job experience is working for someone, you probably have no idea how business is run. Things like payrolls, equipment maintenance, cash flow, procuring raw materials and a myriad of other items will become your daily nemesis. Faster you learn to deal with them, the better. Ideally, you would hire someone with experience to help you, but let’s face it if you are just starting you can hardly afford that. That means you will have to do it the hard way with plenty of elbow grease. Fortunately, there are plenty of resources on the Internet that can help you learn.
Monetizing Your Hobby
Being good at something is just one part of the equation. Ability to monetize that skill and turn it into a profitable business is as is or even the more important part. Not all of us have the skill set or the willpower needed to achieve it. For instance, if your passion is gaming, you will need to spend countless hours at fun88 online casino or some other similar establishment in order to make a living out of it. Remember what we said about it being a job? You need to treat it as one. Set aside a minimum number of hours you will dedicate to working each day and stick to it.
Creativity vs Commercialism
This is one of the more dangerous traps a new entrepreneur can fall into. Creating a perfect product requires a lot of investment, in both time and money. However, adding bells and whistles isn’t necessarily the best way to go forward, especially when you are just starting. You will end up with an overpriced product that will be very hard to sell. It is better to curb your creativity, at least in the beginning, and go with something safe that you can move in sufficient quantity to make it worth your while. That may sound lame and trying to do it will probably be frustrating, but you will want to play it safe, at least until you can afford to make mistakes.
Marketing Through Social Media
Running a startup means that you would have precious little money to burn on marketing. That is why it is important to use all the free tools you have at your disposal, like social media. There are countless guides on how to best employ them to your benefit and it cost you nothing but time to learn if you don’t have much experience with them. Properly used, social media can be a powerful tool, especially in your early days when you can’t afford paid promotions. Don’t be afraid to ask your friends for help, most of them will be happy to lend a hand.
Turning your passion into a fully-fledged business is a tall order and not for the faint of heart. You will need to spend your every waking hour either planning or executing plans and at the beginning, you will do everything, at least until you can afford to hire some help. But if you manage to stay afloat, the reward is more than worth it.