Work - the word has always been synonymous with a routine 9-5 job where monotony reigns supreme. But what if things could be different? What if it was possible to have a job that excited you, that you looked forward to everyday, that you wanted to be better at, that actually relaxed you?
Well, it is definitely possible to have a job that you completely love and which makes you a workaholic but not a reluctant one.
Can you Turn Your Hobby into a Job?
Most people remain quite unconvinced about the fact that their interest can actually be turned into a revenue making business idea.
Of course this does not mean that every hobby could be a marketable talent or have prospects as a job but there are ways and means of converting your interests into a resource people would willingly pay for. There are some important questions that you need to answer to convert your hobby into a full-time job.
Is it possible to make your hobby a viable job?
This is an important question that will need to be answered. Focus on your hobby and try and work out a plan that will make it a marketable skill. Check if people would actually be willing to pay money for what you have on offer.
Is it possible to make a long-lasting money making venture out of it?
The second thing that you need to check for is whether or not the hobby can be expanded on scale and whether it can be a long term career plan. If you have a hobby like quilting, then in the long run, you will need to scale up your production line and hire people to help you with the orders.
These are things that need to be thought about before you start up. You also need to ensure that the business venture is profitable. If you are putting money into it, you need to get returns. The joy and happiness aside, it is important for you to get a tangible income from the venture.
Do you have the financial standing to convert your hobby into a job?
Many banks offer loans for entrepreneurs at attractive rates. While this is an option you will have to look at, you need to have a decent amount of financial backing. If you are jumping into a business proposition full-time, then you need the money to run your house and sustain the business. These are all pragmatic things that need to be thought of.
These are some of the most important things that you need to keep in mind if you are seriously contemplating turning your interest into a full-time career. But how do you go about the process? We tell you in the next section.
Turning Your Hobby into a Job
Who hasn't thought of turning their passion for cooking into a restaurant business or their talent for writing into a writer's studio? At some point of time or the other, all of us have toyed with the idea of starting our own venture. In this section, we give you some tips that will make the job easier for you.
● First and foremost, you will need to research the business idea completely. Like mentioned earlier you need to see if there is a market for your hobby and whether or not it is actually profitable.
● The second sensible way of going about things is to create a business plan. Ensure that you include financial planning for the next five years at least. You need to see what funds you have, how much capital you will need, when you can see yourself breaking even, etc. It may be a good idea to hire a business consultant to help you with all these decisions.
● Running a business is not easy and you need to be a driven individual in order to be successful at the same. Remember that it is not necessary that you will retain the passion you have for your hobby once it is a full-time job but you need to have the will power to stick to it and to retain the love you have for it.
● You need to understand that once you take this decision, it will definitely have an effect on your personal life. So remember to make this a family decision and see that you have everyone's support on the matter. It may also be important that you have a working partner who can support the family while you start on this venture.
● If the hobby that you want to convert into a job is one that is already a huge rage in the market, then you need to find a new way to sell your talent. You can choose to solve existing problems in the market, opt to teach others, sell stuff related to the hobby or provide services that are related to your interest.
Making your hobby your job will see you spending a lot of sleepless nights. You will need to have a contingency plan for everything as there are a number of things that can go wrong with new businesses. But do not let the small things bother you. With perseverance you will definitely be able to achieve your goal.