Turning Your Hobby into Income

It happens all the time. Someone starts going to the gym to look for ways to release stress. Exercising becomes their hobby, and then a huge part of their life. They move to get the training and certifications, and become a personal trainer. Or, perhaps someone attends a photography course, and turns it into a part-time income source by taking engagement photos on the weekends. Or maybe, someone is just really passionate about wearing and selling comfy leggings.

With planning, dedication and an understanding of your skillset, your hobby or passion could become additional income.

If you’re thinking that your hobby could turn into some additional income, here are some considerations:

  • Acknowledge that you may be giving yourself a job. Consider whether you really want to turn something you enjoy into a financial pursuit. Some people find that it could feel like a chore or job rather than an enjoyable outlet.
  • Make your offering uniquely yours. Whether you’re creating and selling a physical product or offering a service, try to figure out how you can distinguish your offerings or add a unique twist that will help potential customers meet their goals. You might create something entirely new, figure out how to make something less expensive or more luxurious, have the best customer service or figure out a fun and creative way to advertise.
  • Figure out who your target customers are and what they like. If you’re going to make money you’ll want to identify a target market. Generally, this will be a group of people who want and can afford your offering.
  • Be brutally honest with yourself. There isn’t always a profitable market, and some hobbies don’t make great businesses. Selling something people already buy can be a good place to start because you know there is demand. From there, you can figure out the best way to find customers that like the twist or extra touch you’ve put in.

With planning, dedication and an understanding of your skillset, your hobby or passion could become additional income.