Search

Make Money from Your Hobby: How To Start a Creative Business

Make Money from Your Hobby: How To Start a Creative Business

Knitting a scarf for your nephew is something you do for fun, but once you start making several for friends and family it might be time to make money from your hobby. Hobbies are defined as an activity someone does regularly in their leisure time. A hobby can be sewing, playing the guitar, or making jewelry. Often times a hobby is a destresser, but there is a point when you decided to turn your hobby into a creative business.

The first step to start a creative business is to write down your ideas. Start a google doc or grab a notebook and let your ideas flow. Ask yourself things like what is the product, how is my business different, and who is my ideal customer. Answers to these questions will take research but they are the foundation of a business plan. A business plan is like the set of directions to assembling a piece of furniture or a recipe for your favorite pie. It can provide a roadmap to help you reach your goals, which is ultimate to make a profit from your business.

The second step to having a successful creative business is to get organized and start making your product. Organize your finances, understand the cost of materials, how much you will sell the product, and how much time you need to produce the items. Many people who start a creative business do it part-time while keeping their day job or until the creative business makes a profit. Depending on your business you might need a certain license for example if you sell baked goods you may need a food handler’s permit. Keeping track of all the back-of-house items like inventory, workflow, and budgeting can help you in the long run as your business expands.

Now that you have a product it’s time to create a buzz. Share your business with everyone you meet whether it’s in the grocery store or at church, you never know who could be your next customer. Having promotional materials like a business card, website, social media pages up and running can help market your business. There may be some upfront cost but there are several free methods to market your business like having friends share your website on their accounts, creating videos for Tik Tok or Instagram with popular hashtags, or even landing a spot on the local news.

Being an entrepreneur can allow you to have more free time and creativity but it requires a lot of work upfront to lay a good foundation. Also if you feel overwhelmed reach out to your nearest small business association, many cities have groups who can help you. Mentors are also a great resource and provide encouragement as you develop your company. Invest as much time and energy as you can it will pay off in the long so you can become the next small business success story.




Source: https://www.legalzoom.com/articles/10-tips-to-turn-your-hobby-into-a-business Source: https://bossproject.com/blog/2016/4/5/7-steps-to-opening-your-creative-business Source: https://www.fastcompany.com/90264055/a-creatives-guide-to-starting-a-new-business Source:

1 view0 comments

Recent Posts

See All