How to turn your hobby into profitable business

1. HOW TO TURN YOUR HOBBY INTO PROFITABLE BUSINESS If you have a life skill you are currently only using in your free time, you can turn your talent into a money-making business. That is if you know what you do, of course. Hobbies that could be monetized and turned into businesses include painting, woodworking, baking, web design, dog training and literally anything that provides value to others. With a little planning and strategy, you can enjoy a positive result. Here are a few tips: 1. Create a plan If you have an interest in something then start part-time work on it and gradually shift into full-time work. Just fill up all your available time on nights and weekends with students and save all the money you make. 2. Get your first sale You cannot be millionaire businessman in a matter of days. There are plenty of strategies for actually getting your first sale, but it all depends on the product you’re selling. If you’re selling a service, you may want to start by offering a free trial and generating some word of mouth. If it’s a product, good product placement and advertising in the right places can lead to a sale. (Social media is especially powerful if you’re trying to reach the masses with minimal resources on hand.) 3. Maximize your time For many people, working a full-time job and then spending extra hours pursuing a hobby isn’t practical. 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. 4. Build an online presence In business today, everybody 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. 5. Network A few people will stumble across you online, but a lot of business success happens via word of mouth and networking. You have to be prepared to be active on this side of self-promotion, as well. Find clubs, conferences and groups in your specialty that caters to other professionals. You’ll learn a lot at these events and get the chance to mingle with people who are at the same stage as you, and preferably a little further. 6. Treat it like a job 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.

2. 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. Source: entrepreneur.com For business setup & consultancy services: Visit: www.farahatco.net