Turning your hobby into a business
by Dem 85
Your hobby might start to feel like work – It has been proven that turning your hobby into a business can cause it to be less fun. You went from doing something because you loved it and you will now do it because it’s your job. Sometimes the sparkle goes away, not always, but it’s something to keep in mind when you are deciding if your hobby is worth turning into a business.
Test your ideas and concepts – Before you make that final decision to turn your hobby into a business, it’s important to test your idea. Ask friends and family for their opinion on your product and ask for constructive feedback. Research and check to see how many other people have similar businesses.
Streamline your production and processes – Make sure you have everything to create your product easily and as quickly as possible. A hobby is relaxing, but receiving orders in a world of 2-day deliveries requires you to be on your best game to get things made and shipped as quickly as possible. Getting things done promptly and correctly with great quality is equally important.
Choose how you will sell things – There are many ways to sell these days. On your website, in person at markets, or even on selling platforms like Etsy or Amazon. Having a plan for how you will sell your items is important because you need to account for fees. Most of the time, any sort of selling will cost you something. Etsy and Amazon have fees when you sell a product, a market will have expenses to set up a booth, and even having your website comes with its fees, even if it’s just your monthly or yearly website costs. Being aware of these fees helps when you determine pricing for your products.
This is an extremely watered-down list of what needs to happen when you start a business. Please check with your state, county, and city when starting a business to ensure you do everything you’re required to do to ruin a legal business.
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