Many people choose their line of work based on profitability, or simply what’s available. But despite the difficulties that many people encounter in today’s job market, there are benefits to the current technological, social, and business climates that will help you truly transform your passion into a profession. Excitement and enthusiasm are two of the most powerful traits that contribute to success.
Brainstorm
Determining how to make your hobby profitable is the first step in pursuing it as a career. Even if it seems far-fetched — like playing hockey — you can adjust the goal by looking at related avenues. You could consider sports-casting, apply for a coaching job, run your own hockey camp, manage a local arena, or work for a sportswear or sporting equipment company instead. Not having professional experience in the field could seem like an obstacle, but you’ve likely gained important skills and practical experience that will translate well. Stick to one product or service to start, and grow from there.
Teach
Teaching whatever it is you find interesting is a great way to make money by pursuing your passion. Whether you advertise your own independent services or apply to teach a course, having a natural interest in a subject will give you an edge to earn a living while enlightening others about the thing that you love. Writing about it, whether by submitting articles to various publications, or becoming a subject-matter expert, can certainly enable you to monetize what you once considered a hobby. To help make a name for yourself, pitch an idea to develop a column on the topic, or approach an organization in the field about speaking at seminars. .
Expand
Rather than give up your day job right away, continuing to work in your field but specialize in clients or topics related to your hobby is another way to profit from your passion, and incorporate it into your professional life. Maintaining your existing source of income, while developing your hobby as a side business, can also give you more leverage by making you less dependent on your “main” job, and allowing you to focus on simply developing something you love. The more time and effort you invest out of pure passion, the more likely you are to succeed. If, or when, your passion project starts producing stable revenue, it will be easier to walk away from your first career.
Market
If what you love to do involves creating something, the best way to profit, naturally, is to sell it. Even amateur painters can approach a gallery about getting their work featured, or establish an e-commerce website and market their art. Social media can help you promote goods and services, combining word- of-mouth (such as having friends and family like and share your posts) with paid marketing as an inexpensive and effective tool. Employing time-tested tactics — like approaching the organizers of upcoming local festivals and markets about being a vendor or co-sponsor, getting a booth, or advertising — can also provide a helpful edge.
Focus
Feedback and focus groups can play a major role in a business’ growth strategy. Enlisting your friends and family when you’re starting out will help you determine how others view and respond to your products or services. Their input and constructive criticism can translate into invaluable advice on ways to improve, that you may not be able to see for yourself. Even as you find your stride, it’s a good idea to continue this method (say, on a quarterly basis) to keep your business on the right trajectory.
Research
Studying other business models, particularly within the same industry, is another excellent way to help you profit from your hobby. By using an existing company that has laid some of the groundwork, you can gain insight into what works, where challenges lie, how to appeal to customers, what to charge for products or services, and how to generally grow your business. Use their existing practices as a template, but ensure that you create and innovate and strive to be different – and better. Take time to experiment and see what works for you, while keeping in mind that everyone struggles at the beginning (and often at other points along the way), so try not to get discouraged. Turning your hobby into a career may seem daunting, but the internet and social media have changed many consumer markets and industries, and made them more accessible to smart and dedicated entrepreneurs. Whether you want to start your own business or simply seek employment in a field you love, it’s important to recognize that opportunities are available all around. Standard business practices coupled with passion and perseverance are a strong formula for success.
Robyn Naster | Contributing Writer
