Turning a Hobby into a Legitimate Business

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When Walt Disney was 5 years old, his family moved from Chicago to a farm in Missouri. Rural life immediately sparked Disney’s imagination and passion for drawing animals.

Soon, his hobby turned from drawing on paper to creating animated cartoons. In fact, the inspiration for Mickey Mouse came from Disney’s pet mouse. By the end of his career, he had turned a childhood hobby into the highest-grossing media conglomerate in the world.

According to Disney, “All of our dreams can come true if we have the courage to pursue them.” While this is definitely true, turning a hobby into a legitimate business requires more than just courage. It takes planning, organization, and commitment. A few important things to keep in mind before taking the plunge:

Educate yourself on the ins and outs of marketing:

Marketing your business is the key to attracting customers.  As a result, you must learn the ins and outs of small business marketing and branding. Spend time reading everything you can, talking to other entrepreneurs, and watching how other businesses promote themselves and brand their products/services.

Consider the pros and cons:

Think about the following aspects of using your hobby as a business opportunity:

–Will you enjoy your hobby if it requires marketing, selling and making consistent money?

–Are you prepared to turn your hobby into a 24/7 endeavor?

–Will turning your hobby into a business diminish the fun?

Research the market:

Learn about the industry and your competition. Discover if consumers will want to pay for your product/service. This will help you understand what it takes to be successful and profitable.

Test your hobby:

Before jumping into a business, consider testing your idea with friends and family—and collect their advice and feedback. Think about working for free during your start-up phase or work part-time while keeping your current job.

Start small:

Most successful businesses begin with a simple idea. And from there, the business begins to grow. For example, Uber began as an app that hailed a taxi from your cell phone. This simple and easy concept has now turned into a corporate giant.

Turning your hobby into a business can be a great way to make a living, while also doing something that gives you pleasure. When you’re ready to jump in, follow the sage advice of Walt Disney, who said: “The way to get started is to quit talking and begin doing.”

Call us at 866-545-1867 to turn your hobby into a lucrative business!