Last Updated on June 6, 2023 by hassan abbas
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You have likely heard about the recent move towards side gigs and passion projects. Have you considered starting one yourself? Whether you love baking, knitting, drawing, writing, or playing music, you may be able to join many others who have turned their hobbies into their careers. If you’re interested, but not sure how to proceed, NewsPab has some tips to kick off your journey as an entrepreneur, from choosing the right business structure to designing unique business cards.
Work on a Side Hustle
You don’t need to quit your full-time job to monetize your hobby. Instead, you can start selling your homemade products as a side hustle or providing services on a freelance basis. That way, you can see if self-employment is really for you!
To best manage your time when you have a side hustle, MoneyTalksNews recommends setting boundaries around your work schedule. It’s important to define when you’ll be on the clock and when you can sign off. When you’re just getting started with a side hustle, it can be tempting to work long hours, but having time to relax is important, too.
Decide on the Fundamentals of Your Business
Even if you’re only running a part-time business, registering your company with an official structure still has benefits. For example, if you form your business as an LLC, you’ll get tax breaks, limited liability, and additional perks! Should you need help with this process, you can either hire a lawyer or save money by working with a formation service. To determine which service best suits your needs, read through reviews first. One of the first things you’ll need to do to form your LLC is to give it a unique name. You don’t want to choose a name at random as it will be intricately connected to your branding and marketing.
You’ll also want to write a business plan. This document asks you to think through the details of your business, from what you will produce to how you will get funding and what marketing strategies you’ll use. You may want to convert this document into a PDF and share it with a few close friends for feedback along the way. Using the PDF editor online lets you add notes, highlights, and virtual sticky notes directly on the file. Then, you can make your edits as you further refine your business ideas.
Websites and Business Cards: Marketing Basics
In order to make your first sales, you’ll need to advertise your business! You might want to create a website, register social media accounts for your company, or even design business cards. By giving out business cards to prospective customers, you’ll be able to leave a lasting, physical reminder. Plus, customers will have your information on hand to contact you easily. You can use online templates and customize it with your preferred text and images. You can even pick out a color scheme – give this a try to get started.
Seek Out a Mentor
When you’re carving out your own path in a creative field, making big decisions can be daunting. It’s not easy to build your business from scratch and succeed as a self-employed creative. However, working with a mentor can make it easier to find your way and feel confident in your decisions.
Foundr recommends signing up for a formal mentorship program where you’ll be matched with an experienced professional or looking into local organizations that connect entrepreneurs in your industry. If you have any friends or relatives who work in the same creative field, you can also reach out to them for support!
Keep Your Passion Alive
Earning money from your favorite hobby can be exciting. But sometimes, people who turn their hobbies into businesses struggle with losing their passion for their craft. You may feel like you need to work on projects that will appeal to your customers, even if you’re not excited about them, or worry that a project you create from the heart won’t result in any sales.
Make it a point to keep creating for yourself, too. For example, you might want to block off a couple of hours each weekend when you can work on a creative project that has nothing to do with your business. Use apps like Todoist to help keep everything organized. This app has everything you need to ensure you can make time in your schedule for creativity.
Take the Leap
Taking your hobby and turning it into a business is a big step. But if you want to make a living doing what you love, taking this leap is worth it! With these tips, you’ll be ready to test drive your business idea as a side hustle, choose a formal structure, and even create eye-catching business cards.
