Turning a hobby into a business is a dream for many people. After all, what could be more enjoyable than working on something that you are passionate about and earning from it? For many, that will be the ideal life.
Aileen Siroy decided to pursue her love for photography into a thriving business. Her decision has paid off: clients responded to her talent and innate skill in making people feel comfortable in front of her camera that she is fully booked until next year.
Marion Gold decided to start jewelry design as a means of coping with the death of her parents. What initially started as just an homage to her mother who used to do jewelry design as a hobby blossomed into a full-time business after her jewelry proved to be sellable.
However, turning a hobby into a business is not without challenges. Some hobbies are just not viable as a business. How can you monetize a bouncy ball-collecting hobby? Other hobbies are so popular with many enthusiasts selling their wares. To compete in that market, your products need to be exceptional and your business strategy exemplary to stand out from the rest.
Read the important factors to consider when thinking of turning your hobby into a business