Hobbies are a great jumping off point when you are looking to start your business. After all, you should only work at something that you’re interested in doing. You should only work at something that you know something about. And with the amount of time a new business can take, it only makes sense that it’s in something that you don’t mind spending your time on!
But where do you start? What can you do? If you are new to the world of business, here are a few ideas to help you:
- If you have a way of doing something in your hobby that has made it easier for you, consider writing an e-book or informational product to help others.
- If you have a lot of information about a past time that everyone seems to be getting into, consider writing an e-book or e-course on the topic.
- Create a “members only” website where people can pay to register in order to belong to your forum. Their membership gives them access to industry insiders, equipment trading, advice, tips, ideas for success, etc.
- If your hobby has a lot of components that are in high demand, think about setting up a web store or registering as a seller on eBay.
- If other people need help or training getting into the hobby, consider setting up a consultancy or institute and having people pay you to train them.
- If your hobby has a lot of products or components, and there are a lot of local people who enjoy the hobby, think about a store where you can sell your products to others.
- If your hobby doesn’t already have one, think about setting up a regional, state-wide, or even national conference or convention.
Of course, these are just a few options for you that have proven successful in the past. If you have a lot of contacts in the hobby’s industry, think about asking them for ideas on things they wish they saw in the hobby.
Here are the steps to take to move your business from idea to reality:
- Identify the hobby that you want to work with.
- Figure out how you can make money, with one of the above ideas or with one of your own ideas.
- Do market research to learn if anyone else is doing it and how they are doing, as well as the prospects of running a similar business in your area.
- Ask for advice from other business owners to learn what made them successful.
- Put together a business plan incorporating everything you’ve learned so far.
- Begin assembling the infrastructure to your business (including your website or store, if applicable).
- Count down the days to your grand opening with promotions and marketing.
- Open with a flourish and market your business as hard as you can.