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April 9, 2019

Turning Your Hobby Into Income

Have you ever thought of turning your hobby into income? Are you planning to find an opportunity to connect your passion with your income together? Then, you have come to a right place to read the information. Here there are some few tips to help you to fulfil your dream.

1. Create a plan

To begin monetising your hobby, you need to have a proper plan. This plan will be tweaked along the way, but it’s worthwhile to have a strategy in place from the start. For example, let’s you are passionate in writing. Then, you can start to write some articles for your school magazine or bulletin first. After that, you can start to offer your writing services for different organisations. Fill up all your available time on nights and weekends with appointments and save all the money you earn. Once you have saved enough money to cover four to six months of expenses, then you can quit your job and go as a full time freelance writer. Therefore, there’s nothing smart about diving in blindly and hoping things work out.

2. Get your first sale

You don’t need to go from hobby to million-dollar business in a matter of days. Your priority in the beginning stages is to get your first sale. It doesn’t matter whether you are making a $5 sale or signing a $5,000 retainer, your first sale is the hardest and most important sale you’ll ever make.

Plenty of strategies are found for you to get your first sale, but it all depends on what 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. You can use social media to reach the masses with minimal resources on hand.

It’s important to remember that other people have no reason to believe in it. You haven’t proven yourself yet. Don’t give up. Hustle hard for that first sale and then turn first sale into second, second sales into fourth and list a few.

3. Maximise your time

Working a full-time job and then spending extra hours to pursue a hobby isn’t practical. You simply don’t have enough time in the day to do it. At the initial stages, you’ll have to be creative about how you spend 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. Alternatively, you can involve your kids in your hobby so you can spend time with them while still accomplishing new things.

4. Build an online presence

Everybody needs an online presence to generate activity in business world today. This means you need to create and maintain a website, social media profiles and list a few to brand yourself as a professional.

5. Network

A few people will stumble across you online, but many successful businesses happen via word of mouth and networking. You need to be active on this side of self-promotion as well. You can find clubs, conferences and groups in your speciality that cater to other professionals in the niche. 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

Lastly, remember 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 need to pay it much attention. You can 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.

In short, turning your hobby to become income is no longer an unbelievable dream. Trust me, if I can make diamond art my profession, you can too. The longer you wait to take action, the more you’re likely to talk yourself out of pursuing your hobby. Though it wouldn’t be wise to dive in prematurely and present a low-quality product or service, you don’t want to overthink the challenge either.

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