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Five Simple Steps To Make Money Out Of Your Hobby

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A Hobby is something or an activity you enjoy doing. It is something you love to do and as some would say, it is that one thing you do and will do again and again without getting paid.

 

A hobby can be reading, writing stories, travelling, cooking, caring for pets, the list goes on. Some even enjoy selling makeup products. Humans are unique and you will be amazed at the diverse hobbies people enjoy.

 

A lot of times, people desire to make their hobby a stream of income, instead of doing an 8-5 where they can hire and fire them at will.

 

So if your desire is to make your hobby a business, then follow the steps below:

1. Create a plan

Five Simple Steps To Make Money Money Out Of Your Hobby
Photo: PESTLE Analysis

 

Planning is very important, thus, you need to devise a plan. If starting off a business with your hobby would require funding, how much have you saved?

 

Planning also involves saving up funds, determining your target market and so on. A lot of people have resigned from their 8-5 jobs to build a business around their hobby but end up broke. You don’t want to delve into a business blindly only to regret it later.

2. Maximize your time

Five Simple Steps To Make Money Money Out Of Your Hobby
Photo: Vox.

 

Time management is very important for those who want to make money from their hobby while they continue with their regular jobs.

 

Thus, learn to maximize your time. For many people, working a full-time job and then spending extra hours pursuing a hobby isn’t practical. Between kids, significant other, friends and social requirements, you understandably may not have enough hours in the day.

 

In the initial stages, you’ll have to get creative about how you use your time. Perhaps you need to wake up an hour earlier than you’re used to and get some stuff done before your regular job.

 

For example, if you are good at baking and you desire is to start making money from it, then you can use your weekends for baking jobs and this means less time to hang out with friends.

 

You have to ensure you maximize time so your regular job does not suffer because you want to turn your hobby to a business empire.

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3. Build an online presence

Five Simple Steps To Make Money Money Out Of Your Hobby
A display of different social media icons. Photo: 3dOcean.

 

We are in the era of social media where you can advertise your goods and services from the comfort of your home. In today’s world, every business needs an online presence to generate activity.

 

This means creating and maintaining a website, social media profiles, and everything else that goes into branding yourself as a professional.

 

On a daily basis, people make sales on Instagram and Facebook. Upload photos on social media and before you know it, you are getting interactions and making money. Before long, your hobby will become your side hustle.

4. Network

Photo: VeryWell Mind.

 

Talk to people about what you do, use every opportunity to promote what you do. A few people will stumble across you online, but a lot of business successes happen via word of mouth and networking. You have to be prepared to be active on this side of self-promotion as well.

5. Treat your hobby like a job

Photo: Ebony Magazine.

 

The final piece of advice is to treat your hobby like a job. If you want it to become your main source of revenue someday, or at least a sustainable second stream of income, then you have to give it the attention it deserves.

 

Carve out time to work on your hobby, read about the industry, learn about sales and marketing and dedicate yourself to steady improvement. This is how to achieve positive results.  Also, you should go for trainings and get certifications in your field of interest.

 

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