A hobby business is a business you do from the comfort of your home using the skills you have. What is a skill you are over-looking and how can you use that skill for creating an income online?
In this article you’re going to learn:
What a Hobby Business is.
A hobby business is a business you do from the activities you love doing. A hobby business is a talent business or skill business.
How to Find a Lucrative Hobby Business
In order to find a lucrative hobby business, you have to create a business around your skill.
- To have an entrepreneur mindset. Meaning, treat your hobby as a business. If you don’t know how to monetise your skill, you cannot treat it as a business.
- What do you enjoy doing? Is it knitting? Sewing? How can you turn these hobbies into a niche you love? Is it by starting a shop to reach people?
- How are you going to market or promote your product/s?
- The market is oversaturated, how are you going to market and what difference are your products making to the people you’re marketing to?
- What’s your niche/target market? What does your niche market love to buy? How do they buy their products? Are they online or offline? Do they love to ship their products? How long do they wait for the products they have shipped from other countries?
To find a lucrative hobby business, centre your interests on your strongest skills. Learn how to market and promote. Because that’s how products sell.
How to Scale Your Hobby Business
Are you prepared for the growth of your business? How do you intend on growing your business? Is it by expanding your team, equity or production?
Also, are you ready to plough the money you get from your business back to the business? Are you ready to take losses and profits? Do you know what net profit and gross income are? What are the sales? How do you calculate your income vs expenditure?
What’s a Niche? How to Find a Niche for Your Hobby Business
Are you struggling to understand your niche market? Or what a niche market is for your hobby business?
Tips for finding your niche:
- What are you passionate about?
- What are you most knowledgeable about?
- What can you work on non-stop during the day or when you’re bored?
- What activity keeps you going when you feel depressed or bored?
- What do you imagine doing while sleeping?
- What can you do and feel you can upsell or improve the product?
How to Develop a Marketing Strategy for Your Hobby Business
How do you plan on getting the word out there about your hobby business product? The marketing strategy will include: Knowing your target market, who they are and why they shop what they shop for.
You’re also going to identify your competition and answer to your niche market what the brands aren’t answering now. You’re going to delve into Google Adwords or Facebook Ads to get your business products to many people.
You’ll create Social Media Pages and Groups to constantly promote and advertise your products. Because marketing never ends.
How Does One Create a Biz Around a Hobby
A hobby turns into a business when an individual realises the value of their products.
You’re also going to work on your hobby like a business by working and promoting non-stop. Developing marketing strategies that run beyond your family and friends. Knowing how to charge and ask your worth.
What’s Branding for a Hobby Business and Why Branding is Important
When starting a business from your hobby, branding is left out the window. But branding is a crucial marketing step. What are your brand colours?. What do they mean to you? Will they mean something to your customers?
Do you have your brand’s mission and vision? How do they reflect why you decided to hop from hobby to business? Your brand goes beyond colours it goes down to shipping, customer service, consistency and coming up with products your customers want to buy. Are you ready to take your brand to the next level?
How Many Hours Does One Need to Dedicate in a Hobby Business
For your hobby business to succeed, you need to dedicate the working hours. One of the mistakes you commit to your hobby business is lack of consistency. You were used to selling things to family and friends now your products go beyond.
You target people from all over the county, world. You need to develop proper packaging, branding, customer service points. You are going to work double the hours and develop more strategies for getting your customers.
Staying Happy While Building Your Hobby Business ( Staying Sane)
It’s not easy transitioning from hobby to business. You can lose your sanity or happiness. You deal with lots of unsatisfied customers. You will feel worn out, tired and sometimes, tired of complaints. How do you maintain the same enthusiasm for creating?
Using the Power of Social Media for Your Hobby Business and Why Social Media Must Be the Start for Your Hobby Business
Social Media is a platform you’re on, so recommended for your hobby business. You already are on Facebook. Start leveraging social media by displaying your products. They reach not only your friends but family.
To start a hobby business, you need to treat your hobby as a business. Some people have grown their hobby business into full-time businesses employing others. What you believe is irrelevant as a hobby is a money-making machine. Just realise how to turn your hobby into a business. Don’t fear to go back to your hobby
There are many hobby businesses one can start in Kenya. And they include:
1. Make-Up Artist
6. Fitness Instructor
14. Baby Care
15. Construction Worker
16. Affiliate Marketer
17. Network Marketer
19. Cleaning Business
20. Car Detailing