Turning your Hobby into a Business

Too many people are stuck in jobs they don't like, performing repetitive tasks that have no meaningful purpose or satisfaction. While in reality their soul screams for other things; something they actually LOVE doing!

But it is not easy to break the loop of that habitual, boring security. Creative artists do not always get the desired merit and compensation. And if you listen to the advice of others, few are those who will actually suggest you to leap and take the risk, for today's world is full of painful uncertainties and the majority of us remain sadly satisfied in their comfort zone. 

First of all I want to make one thing clear. While I always motivate people to follow their dreams, to believe in themselves and to believe that everything is possible; I am not here to tell you to quit your job just like that. If you are really thinking about quitting your job, then it has to be well thought, justly considered and has to be backed up by a serious action plan. 

So... if you have already been seriously thinking of leaving your job to make a business out of your passion, then this is probably the number one question repeating in your head right now:  How can I be sure that I'm doing the right thing?

This is a short guide of things to consider before making the big decision:

First of all, you need to make sure that whatever your craft is, you will enjoy doing it for several hours a day and realize that it will not be just a casual hobby anymore! Some people who might have loved creating pieces of clothing in their spare time, soon understood they were not so happy anymore sitting all day on the sewing machine. You might need to work long nights to reach deadlines; or do something personalized for a customer that you don't really appreciate; or you simply get bored working on the same designs over and over again. So ask yourself: Is this something i will enjoy doing everyday, for years to come?

You also need to be your own boss, and while this sounds awesome, it may also work against you if you are not disciplined enough. Working for yourself requires much more sacrifices than working for an employer. You need to be ready to work weekends, holidays, over time, and perhaps also when you feel unwell. You need a lot of self-control and determination to treat your business as a separate entity and give it the respect it deserves, if you want it to succeed. So ask yourself: Am i willing to sacrifice a large part of my life for this project to be successful?

You need to be ready to reach a low before you can reach a high. Yes, failure is part of success. We all know the story of Edison making a thousand of unsuccessful attempts before finally creating the light bulb. Are you ready to listen to your inner voice of self-doubt and shut it out? Are you ready to listen (and ignore) the words of family and friends that will put you even more down at your first failure, even though their intention is not to hurt you? You need to learn to be strong and tenacious in spite of oddities. So ask yourself: Will I be strong enough to go on and not give up whenever I feel like failing?

Running your own business means wearing a lot of hats. You will not be only creating, but you will have to be an entrepreneur, and therefore you will need to perform several other tasks that you may not like doing; such as accounts, forecasts, customer service, marketing, stock control, etc etc. So ask yourself: Am I capable and willing to run the technical side of the business? Or if you really don't want to, ask yourself if you can afford to pay someone else to do it for you.

Most of all, you will need to be a good sales person! You need to learn how to sell your product, to the right people, making the right sales pitch, giving away your business card at all possible occasions and 'selling yourself' during social events. So ask yourself: Am I ready to become that person? Am I ready to change?

Finally, I suggest you work on:

* A Business Presentation - this will help you understand exactly the most essential things; what you want to do, how to do it, where you are and where you are going; figure out what tools and resources you need to start; create an action plan, etc. A Business Plan is where you set your master plan, and writing it all down is the first step of bringing your dream project into reality. Remember the phrase: if you fail to plan, you are planning to fail. 

* A Forecast Sheet - this will help you understand the financial side of your business. It will give you a good indication, for example, of the maximum amount of money you could potentially make in a year, depending on the maximum amount of items you could possible create in that same period of time. This is essential if you plan to make a living out of your business. You will also need to take into consideration the initial equipment/resources you will need to invest to start the business.

PS: Coming up next on this blog is a sample Business Plan and Forecast sheet, for you to be able to download and use.

PSS: If you need a loan to start-up your Business, research whether the Banks or the Government are currently offering any advantageous scheme for Home Start-Ups or SMEs.

Conclusion:

If, after all these questions and answers, you are more convinced than ever, that this is what you want to do, then go for it! All it takes is one conscious decision. Take it! Make a promise to yourself and go ahead!