Could You Turn Your Hobby Into A Well Paying Company?

Having a hobby you love is great. You’ve got a clear passion for something you do just because it makes you happy, and that’s a great way to live! But one day we can start to wonder if our hobbies could be turned into a well-paying job that could allow us to focus solely on making a self-employed income. 

However, not all hobbies can be monetized, and it’s best to find that out now. And to help you with making a decision, here are three questions to ask yourself about your hobby and where you could take it. Sometimes a hobby should stay a hobby, sometimes it’s in demand enough to pay the bills! 

Is There a Way to Scale?

What you currently do as a hobby might not work out long term simply because there’s not much to do. If you like to gamble, for example, it’s going to be hard to do anything but gamble to make some money. You could offer expertise as a course, but that’s about it. 

But if you like to paint or write or make crafts, it’s going to be relatively easy to scale, depending on how much time you have. You can take handmade crafts from small projects you do every now and then to a whole line of customized and unique products. 

Is There a Way to Train?

Training is a good way to ensure you have an officially recognised skill in your hobby. It means people will take you a lot more seriously, and it can help you to get one off jobs here and there that can propel your business even further. 

For example, if you love Yoga and have a good bit of experience, taking a 200 hour online yoga teacher training course is a good next step. Having a certificate in hand to show off helps you to build client confidence, as it will ensure you have a qualification to add to your resume. 

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Are You Willing to Commit Full Time?

A hobby is supposed to be fun, and that’s why you started it in the first place. But if you’re not sure if you’ll be able to keep up once it’s a job, it might be worth it to wait until you’re in a better place. 

You need to be able to commit full time here, as you’ve got a lot of money to make, and that kind of headspace doesn’t happen overnight. Most of all, you’ll have to consider whether or not to give up your current job. And this is a hard decision thanks to all the income you’ll lose out on – who knows if you’ll make it back?  

Turning a hobby into a real career is a huge jump to make, and sometimes it’s not even possible. You might have to wait until conditions are right, or you might just have to pick up another side hustle. Make sure you keep an eye out for signs like these.