Apart from providing income and security, is the ultimate goal of being a business owner is doing what you love and making money to boot? Many business owners would agree with this but not every hobby always makes a great business. Has your hobby been steadily growing? Here are 5 signs your hobby is turning into a business…
There is Demand for Your Expertise
You might have started out to have some fun, learn a new skill or try your hand at something different but now people are starting to approach you and ask if your project, item, idea or service is available for them to purchase. They might have seen your piece of art on a wall or spotted that gift you made for a friend but if other people are interested in buying what you are creating, it might be time to consider if it’s a viable business idea.
You Have Started to Make Money
If people in general have become interested in what you do and you have started to make a profit on top of the cost of your materials or time spent on your hobby then you are in business already, you just need to make it official and conduct business through the proper channels.
You Enjoy it More Than Your Actual Job
Is there anything better than this? To make money from something you LOVE doing. If your side hustle started out as something you are passionate about but is now allowing you to spend more time doing something you enjoy doing whilst making an income on top then is it time to say goodbye to the day job?
You Have Invested Your Time & Money
Has it come to a point where you have invested a lot of time and money into your hobby? Or more than you can afford to keep up with demand? It’s definitely time to claw back some of that investment in the form of a profitable business.
Maintaining a hobby and maintaining a business can be two very different scenarios so If you have a hobby you would like to turn into a business but don’t know where to begin on the business side of things, I can help by sharing my knowledge of business processes and marketing. Just book a free, no-obligation call with me here.