Turn your Passion into Profit

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Have you ever considered taking your passion a step further by finding a way to make money from it? We’ve all heard the quote “choose a job you love and you’ll never work a day in your life,” but is it really that simple? No, it isn’t. But once you work out the details, turning your craft or hobby into a business can be a rewarding career, both personally and professionally.

You’ve been mastering your craft for years, you know the demand is there – whether from positive feedback, or requests to buy your products – and you’re ready to launch your small business. But where do you start?

Consider how to monetize your passion

The route you take depends on what your passion is. These days, owning your own brick and mortar shop isn’t the only solution.  Consider becoming a vendor at pop-up shops, markets, or festivals. These options bring down your operating costs, and let you test out your offerings in different locations and markets. You may also choose to sell exclusively through personal orders, or use your home as a base. Figuring out what works best for you depends on your product or service, your manufacturing/delivery capabilities, and your sales goals.

Think about the right online platform 

E-commerce platforms are gaining popularity due to their user-friendly, easy-to-use models that offer more visibility than creating your own website. Etsy is a well-known marketplace for buying and selling unique goods with over 21.7 million active buyers and 1.5 million active sellers. Check out these 10 tips for starting an Etsy business. While Etsy may currently be the most popular online marketplace for selling unique goods, there are many others, including ArtFire, Bonanza, and Zibbet, which all have a social community aspect to them.

There are also platforms to start your own online store, such as Shopify, which has the benefit of having Buy Buttons. If you read our post about social media trends in 2016, you know that Buy Buttons – which integrate shopping with social media – are going to be a hit in 2016.

Find ways to connect with other enthusiasts

If online marketplaces are not the right fit, there are many other ways to turn your hobby into a business. You can offer lessons to teach others what you love, write about the topic you’re passionate about to connect with other enthusiasts, or provide a space where you and others can practice your craft.

Embrace the entrepreneurial mindset

Whatever it is you’re passionate about, shifting from a hobby mindset to a business one is necessary in order to make your transition successful. You’ll need to create a solid business plan, increase production, and get the word out. Need some inspiration? Tips on how to switch to an entrepreneurial mindset.

So while you’ll have to put in a fair amount of work to launch your startup, turning your passion into profit will give you an endless amount of motivation to create a sustainable business.

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