There are a lot of people across the world who have a hobby; something that they are passionate about and love doing. But where is the line drawn when turning that enjoyment into something that you can profit from? So many avoid doing so thinking that the fun will be sucked out whatever they put their all into, but this isn’t the case at all – at least, not if you do it the right way.
Further Your Education
There are certain hobbies, such as sport and fitness, in which you have to keep pushing yourself to reach the next level regardless. Instead of doing it for private personal gain, consider whether there is money to be made off of your acquired skills. You could enrol on a personal trainer course, meaning that you will still be able to do what you love but whilst training somebody else as well – and getting paid for it. It’s a no-brainer to those who have already gone through it, but if you need a little bit of an extra push to be able to commit, think about all of the time that you are wasting simply by going to the gym when you could be being paid for it. It’s the same for education in relation to other hobbies such as crafting or music playing – the more qualified that you are within your chosen specialism, the more lucrative your business could be.
Keep Your Work And Interests Separate
Although it’s a good idea to turn interests into business, you will still need something to keep your mind off of the daily grind. It’s fine if you get pleasure out of your work, but it’s still important to keep them separate so that you don’t feel like you’re constantly doing your job rather than taking time out to relax.
Look At Others
Usually, when somebody is going forth with an ambition based on something that they love doing, they will take the self-employed route before venturing further with their career; that is, employing more staff and establishing themselves as a company. It’s also important to realise which hobbies work when turned into businesses and which just don’t. There are a lot of examples scattered out there on the internet, and it’s vital that you pinpoint just what has made these small businesses work, and look at what keeps them ticking on into the future.
Tick All The Boxes
Just because you’re getting fun out of what you do doesn’t mean that you shouldn’t be following the rules and regulations of every other small business. It can be easy to overlook aspects like tax paying, accounting and all other tasks that are associated with running your own company, but as long as you are making money out of what you are doing, you will have to pay it elsewhere as well as to yourself. Get savvy about what you need to do in this area before you get ahead of yourself and have to spend weeks catching up again.
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Vinh Van Lam & Stuart Horrex
Your Coaches ArtSHINE industries