Do what you love and the money will come, it’s often said. And countless successful entrepreneurs can testify that the saying is true. Still, most of us find it hard to resist the lure of safety and security promised by a full-time job, no matter how boring the work is.
Each year, millions of young people head straight into the workforce from high school or college to begin a stable — though not necessarily satisfying — career. Imagine how much happier they would be spending every day doing what they love while also making a reasonable living. How can you make that happen? Turn your hobby into a business.
But before you give it a try, consider these questions:
Can my hobby be monetized?
Whether you’ll make money depends on whether your hobby provides a unique or in-demand product or service for you to sell. Not sure? Here are a few income-generating ideas:
-Sell your goods. Set up a consignment agreement to test the waters, or open up shop on your own. Another option is to advertise your goods through online marketplaces such as eBay, Etsy or Craigslist.
-Use your talents. For example, if you’re handy around the house, highly organized or a natural at color schemes and home decor, use those talents to get paid.
-Teach your skills to others. Show others how to make something you created, or equip them with the skills to provide a service at which you excel.