There’s a famous saying that goes, “You’ll never work a day doing what you love. “But making something like that a reality takes far more effort, dedication, and, most of all, courage than you might think.
Giving up a steady job to follow your passion may bring you joy, but it also requires a lot of sacrifice, mainly because you won’t have a steady paycheck to rely on. However, it also means you can make a living from doing something you enjoy and build a career entirely your own – you’re no longer a cog in the wheel of someone else’s dream.
If you’re considering turning your favorite hobby into a career, look no further! Let us walk you through how to make that vision come true.
Set Your Intentions
The first step of turning your hobby into a career is to introspect why you want to do that. You must go into it with the right intention; otherwise, you’re just setting yourself up to fail. Ask yourself why you want to switch careers. Is it because you think it’ll be easier than working a 9-5 job? The reality is that it’ll probably be a lot harder, especially in the beginning. Make sure you’re doing it for the right reason so you can pave the path to success!
Research the Market
Any business can only survive if it fulfills a need in the market, so the first step to turning your hobby into a career is to research whether there is a demand for the product or service you plan to offer. This includes studying your competition to figure out how to differentiate yourself. Diving into an oversaturated market without a proper plan is a sure way to fail, so it’s essential to understand your customer base and consider how you can add value.
Create a Business Plan
One of the most important things you’ll need to do before starting a business is to create a business plan. However, a business plan can be an incredibly valuable tool even if you plan to fund your venture all on your own. It will help map out your business plans, analyze how much money you’ll need to keep it running and help you stay prepared for any obstacles that might come your way. A business plan is especially important if you seek outside funding, even if it is just friends and family.
Make Valuable Connections
If you are a hobbyist, you probably already know a few people with similar interests. If you don’t, there’s no better time to seek those connections, and thanks to social media, it’s easier than ever. You can join groups online on Facebook, LinkedIn, or Pinterest. Alternatively, you can seek out meet-ups in your area.
Talking to like-minded people can open you up to a world of knowledge and bring forth opportunities that may not have been available to you otherwise. However, you must be cautious when approaching strangers because not everyone wants to share knowledge with their competition. Instead of asking someone about their business immediately, take the time to make valuable connections and offer something in return.
Seek Professional Advice
Building a community is essential to developing your hobby into a livelihood. Alternatively, you can seek advice from a professional, such as a career counselor, who can help identify if switching careers is right for you. Another professional you would benefit from talking to is a business advisor, who can help assess whether your plan is practical, identify areas that need to be rectified and help bring your dreams to real life.
Take Baby Steps
Turning your hobby into a career doesn’t have to happen overnight. The wisest course of action is to start making money from your hobby on the side while continuing to work at your current job. This way, you can ensure that you love what you’re doing and assess whether it is feasible to make a living doing it.
Starting small will help you avoid having regrets later. Sure, working two jobs doesn’t sound easy – but that’s just one of those sacrifices you’ll have to make, at least until you can get your business up and running.
Plan Your Finances
You’ll need to have a solid plan for your finances before you can dive into your new career. Chances are, you won’t make any money in the first few months or even the first year of your business. So, you’ll need to ensure you have enough money saved to cover living expenses (as well as fund your new venture) before you can quit your job.
Your business plan must also include how to use the funds you’ve set aside for your business. This includes monthly expenses, startup costs, equipment costs, marketing costs, self-employment tax, and projected income.
Create a Buzz
The only way to grow a business is to get the word out. After all, customers are the life and blood of any business! There are many ways to create a buzz about your new venture, including:
- Word-of-mouth, through friends and family
- Setting up stalls at local markets
- Advertising through the internet
- Creating exciting content for social media
- Collaborating with other brands or social media personalities
- Offering free or discounted services at local events with large crowds
Stay Flexible
Life doesn’t always go as planned, and a business is no different. Switching careers is no small matter; it won’t always be smooth sailing. Therefore, you must stay flexible and adjust your plans according to the situation.
You may also need to reassess your goals at regular intervals. You may find that you enjoy one aspect of your hobby more than others, even though you initially did not plan to focus on that part. There’s no harm in switching gears. For instance, if your passion is music, you may enjoy teaching more than performing.
A Final Word
Turning your hobby into a career might sound too good to be true, but it’s absolutely possible if you’re smart about it. What’s important is that you make a proper plan and stick to it – even when the going gets tough. It’s perfectly fine to make mistakes, learn from them, and do better the next time. Keep a positive mindset and be ready to adapt to change. The best thing about turning your favorite hobby is that you can do what you want, so make sure you’re enjoying yourself!
