Could your hobby be a business?

Turning a hobby into a business is a big step. Just because it's your hobby doesn't mean it's going to be easy. Apart from hobbies, you will have to handle other business activities.  It’s a pickle. It might ruin the hobby that makes you happy. I want more from what you are doing. But you don't wanna screw up with one thing that makes you feel at home.

Here are the pros and cons to consider on your journey:

PROS

Passion and Fulfillment. Can’t beat it. Fulfillment with your everyday activities gives you a sense of peace and purpose. Also, your passion for a project can be infectious, and draw in customers.

Existing Expertise. You are already past the learning curve. Now you have a competitive edge over others. You can use it for your own good and be unique in the field.

Motivation. You like, you love it, you want some more of it. Because it is your hobby you are already excited and motivated to continue and thrive. This will keep you energetic in your business.

Innovation and Creativity. Every field in this world wants creativity. This can be the creative outlet that you’ve been missing! My lawyer desk job didn’t offer much creativity. I was bursting at the seams to have some creativity to balance my life. Something to keep me motivated and excited about my job. The need to be creative pushed me in directions I didn’t expect. Now I am experimenting with various products within my job that I haven't before.

Work Environment. The flexibility of creating your own work environment allows you to cater to your personal needs…

CONS

Commercialization. Turning a hobby into a business will force you to incorporate aspects into the hobby that may not spark joy. Things that you might find exhausting. Like balance sheets, customer interaction and complaints, marketing, and more.

Competition and Marketing. Many people are doing what you are into. Even if you have skill and talent, it is still hard to stand out. But don't get disheartened. Remember that just because you may be weaker at marketing or other business aspects. You are not an expert in these. Bad performance in this doesn’t take away from the beauty and/or skill of your hobby and work.

Financial Uncertainty. There are no guarantees when you are going to earn profit. It may take weeks, months, or even more than a year to turn a profit. This is scary for anyone. Because starting a business always costs money. After investing money and time you hope to make a profit if not in 3 but within 6 months.

Burnout. Stress, exhaustion, and the feeling that might never end. It’s not only possible to burn out. But at some business point, you might start to feel burnout and lose motivation.

Loss of Passion and Enjoyment. Like I said at the start. It might ruin the hobby that makes you happy. This one is scary. Because it was your hobby that kept you happy and motivated. Thriving for business for a long time! But the pressures of turning it into a profitable business might overshadow the pure enjoyment you get from it.

Learning Curve. Because it is your hobby. You are ahead of the learning curve. But running a business is a different animal. You need to learn about things that you haven't tried yet. Like marketing, finances, and writing legal templates.

It’s important to strike a balance between your passion for your hobby. The wish to emerge your hobby into business and mixing two realities might not turn out well. The plus point is now you are aware of these possible cons. They may help you avoid problems in business.

Here are some TIPS to avoid the possible negativity:

Delegate. If you are weak in one or more of the many business aspects. Then it is best to get help in doing it. If you are low in budget then learn with time. So this help lasts only so long as it takes you to learn more. I have explained how delegation helps in business in one of my previous articles. If you wanna learn more then sure have a look.

You need to have legal templates like a privacy policy to protect your business. Now law is another field. You don't wanna spend hours and weeks learning just to draft an agreement or policy? It is better to buy individual legal templates or legal template packages than to spend hours and hours writing only one. They are not as expensive as you might think. Most of them cost $100. So sure it will save you some bucks.  Seems like an easy decision.

Take Breaks. If you are sick and tired of your hobby and the business aspect of it, take a quick rest. Recharge. Don't burn out and ruin your mental health. Get back to it when you are ready.  You don't need to rush. If you are so committed then see if your break does not disrupt your momentum.

Keep your Day Job… at Least for a While. If you are worried about money. Start this as a side hustle and build a sustainable business. This may apply differently if you are just trying to have a side hustle and not replace your full-time gig.

Schedule Tasks. Break down your tasks into small, manageable pieces throughout the weekdays, so you don't feel overwhelmed or constantly behind. Leave big activities and tasks on days off from your regular job. Do smaller regular tasks on regular days that you can handle consistently. This has been a lifesaver in my business. So make sure you apply that to your business.

Good luck, and I wish you the best!!