Are you thinking of turning your hobby into a business?

Do you have a hobby that you also happen to make a little money from? Have you thought about turning this hobby into an actual business and have it be your main form of income? Have you ever spent the weekend sewing, painting, crafting, gardening, restoring old furniture or any other hobby for that matter, and thought to yourself, “Now this is fun. I wish I could do it for a living?”  Who hasn’t?

There are many different ways you can make money from your crafts and it all depends on which direction you want to take things, and/or which direction life takes you.

You can simply sell your products
You’ll find an online market for practically anything you create, as long as it’s well-made, and well-marketed. When you think of making money from a craft/hobby, most people only think of this option. But don’t limit yourself to this. There are so many different things that you can sell and different avenues for which you can sell them. You can sell directly to those that you can and get referrals from word of mouth, or you can have an in-person or an online shop. You can sell items that you wholesale or items that you make yourself. There are many different products in many different industries, the choices are endless.

 

Related posts: 

Are you looking for clients? Part 1

4 Tips for Saving Money Running a Retail Store

 

Teach your craft
What comes naturally to you may seem impossible to someone. If that someone is interested enough, they may be willing to pay for it. So, while you are working on your marketing efforts to sell your crafts, start offering private lessons to create some extra money. This can be music lessons, entrepreneurship classes, translating, tutoring and so on.

Sell an info product (eBook, eCourse etc)
If you are not technically inclined, this may seem like a Herculean task. But seriously, it is not as hard as it seems. All you need to do is put together everything about one aspect of your craft (ex: how to make beautiful crochet receiving blankets) into words. Next you can either put this together into an eBook of eCourse format yourself, or hire someone (look on freelance sites such as elance and odesk) to do it for you. The nice part is once you get past this stage (one-time effort) you can generate income for a long time to come with very little additional work.

Bank accounts

There are many different types of accounts that need to be thought of as well. Make sure to keep accounts separate from your business accounts, in order to have better accounting throughout the year. An offshore bank account might be a good idea for your business needs as well.

Do you have your own business?

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