There is definitely a clear difference between a hobby and one that makes money. Hobbies tend to stay as just a hobby when a full-time job is a priority, there is worry about starting a business, or there is concern that the enjoyment will no longer be there when it’s a job rather than a passion.
But, isn’t that the dream? To turn a hobby into a career?
While it can be difficult to take a leap when it comes to starting a business, there could be some clear signs that now is the right time.
You Are Investing Into Your Hobby Like A Business
When you start out a new hobby or try to develop your skills in your hobby you may find that you are investing money into course, books, materials, and the latest equipment. If you are investing a lot of your spare money into your hobby, you may want to think about what difference it would make if you were able to account for these as expenses rather than coming from your personal cash.
You Have Price Points For Your Creations Or Services
If you are already selling your creations or services from your hobby, and have a price point that you stick to you have already set your own value. If you are also making sales at this price point it means that you are already well on your way to knowing and understanding how much you could make if you committed to your hobby as a business. Whether you start to look at Auto Repair Franchises, set up a shop on Etsy, or run your own website if you have set a price you have already taken the plunge to understand that you are worthy of charging a certain amount. You may even have set your price point too low.
You Are Bringing In A Significant Income
This could be one of the most important factors when deciding to take the plunge to leave a full-time secure job to set up your own business with your hobby. If you find that the income from your hobby is matching or even overtaking your regular income, or has the potential to match if you committed full-time, then it could be time ot make the leap.
You Would Rather Do Your Hobby Over Your Day Job
Finally, your true feelings matter when it comes ot this decision. Even if you love your day job and the people you work with, you may feel freer and liberated from the freedom that being your own boss gives you. Of course, you do need to consider whether you would still enjoy your hobby if you were doing it every day.
If any of these indicators sound familiar, then you may want to start committing more time to your hobby and seriously considering making the move towards turning it into a business. Are you thinking about moving your hobby into a business? What have you started to look at? Please share some of your ideas in the comments below.
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