Turning a hobby into a side hustle relieves stress, improves your motivation and let’s you feel financially liberated. The good news is there are plenty of side hustle ideas that are accessible for everyone. These are also easy to start. However, if you find you have a great idea, but you don’t know how to get started, then here’s some tips to get you underway.
When you turn a hobby into a side hustle it can take time to get your business off the ground. Whether you aim to keep it purely as a side hustle or turn it into a full time venture, these 4 steps will get you underway.
Turning A Hobby Into A Side Hustle#1 Conduct Research
Okay, so you’re interested in turning a hobby into a side hustle because your passionate about your hobby. But will others be interested in buying it? So, before you invest your life savings into getting it off the ground as a venture, it’s time to do some background research.
By researching your market before you turn it into a side hustle, you gain an understanding of your consumer. This approach helps you to know in advance at to expect. Plus, you’ll learn more about the current state of the market, your competitors, and the current demand for your product or service.
How else does research help?
Research will also let you learn more about running a business. You’ll need to know how to set it up, registering it under the relevant business structure, and driving customers to your business. Also, you’ll need to understand taxes, licenses and permits, rules and regulations, and keeping track of your finances etc. Without knowledge of these areas, you may face penalties or financial consequences.
How can I start researching?
Some great ways to research your idea is to conduct:
- A search engine query. Simply type your hobby into a search engine and see what other people are doing. Is it similar to you? If it is, then how are you different? What gaps exist that you can fill?
- A social media search. Visit Facebook, Instagram and other social media and type your hobby into the search box. What pops up? How are you different? What’s great and not so great about your competitors?
- Join groups and forums. Find out where your target market hang out and go and find out what they are seeking. Interact with them and gain an understanding of what they require.
Turning A Hobby Into A Side Hustle#2 Test Your Idea
Before going full steam ahead into turning a hobby into a side hustle, test your idea. If you don’t, then you may invest too much time, effort and money into a venture that won’t reward you.
Why do testing?
Testing your idea is vital, if your concept is unique. You can test your concept on locals like family and friends who are willing to be your first customers. Of course, you’ll reward the participation and feedback of these people by allowing them to trial your product or service free.
What are the benefits of testing?
Product or service testing also lets you make and rectify mistakes. So, you perfect your delivery. This is a great way to refine your offering so you exceed expectations. Also, be open to constructive criticism and the possibility of encountering challenges and hitting road bumps.
How can I use test information?
Gather as much feedback as you can from every test customer. Also, take time before a full launch to review and analyse all the data. This approach will give you great insight and the opportunity to make positive improvements. Make sure you remain positive and iron out any problems. You want customers to be pleased with their investment and to come back and purchase more later on.
Turning A Hobby Into A Side Hustle#3 Create A Strategy
A strategy will define your business approach now and well into the future. It should enable you to grow and develop your business and let you establish the steps that you’ll take to achieve your goals.
What should my strategy include?
Your strategy needs to outline everything about your business like your:
- Business name and the name of your product or service.
- Logos- d business product and/ or service.
- Website design.
- Product and/ or service details, build and launch.
- Payment systems.
- Licenses and permits.
- Marketing strategy.
- Outsourcing needs.
- Long term plans and goals.
Why should I create a strategy?
Creating a strategy for every aspect of your business is vital if you want to succeed. This approach provides you with a plan to focus on and follow. Plus, you’ll develop a ‘to-do list’ that ensures all important tasks are completed.
Your strategy will accelerate your business and give it continual direction. Also, you’ll be able to review and update this regularly to remain competitive. This approach will help you understand what is working for you and your customers, and where you can make improvements. Over time, your competitors will give you great insight into what is working for them, what’s not, and what market gaps need filling.
Turning A Hobby Into A Side Hustle#4 Market Yourself
Marketing is crucial when turning a hobby onto a side hustle. Without it, you are unlikely to thrive in the business world.
What type of marketing works?
A variety of marketing activities gets your business seen by your target market. So, use different channels like Facebook, Instagram, and search engine SEO. Also, get creative and build a following.
You may even wish to invest in a marketing agency to help you. Alternatively, you may choose to conduct the activities yourself. This approach lets you save more so you can create a bigger budget to hire help.
How do I market my product or service?
There are many different ways to market your business. But first, you must consider who you are trying to target. This will ensure you don’t waste your effort, time, or budget by spreading yourself thin. Instead, you’ll then create much more specific, and intentional marketing campaigns. These will then have greater impact on your business.
Create a customer profile
You should create a customer profile when turning a hobby into a side hustle. By taking time to develop this, you’ll understand your ideal client better and be able to cater to their needs. This profile should include your ideal clients:
- And other relevant information.
What marketing activities should I start with?
The first marketing activity you should consider is media relations. You can get this started by collecting articles and news about your business that have been published. If you don’t have any then start a blog to get your name out there.
The next activity you should consider is social media. The specific platforms that you use will entirely depend on who your customers are and where they hang out. With over 4.55 billion users on social media, this is not an activity you want to avoid.
The best way to utilise social media is to stay engaged with your audience by taking advantage of features such as ‘stories’ and ‘lives’ on selected media. But, it’s essential for you to also create a wide range of valuable content. These can include short social media posts, infographics, and record webinars (video and audio). As such, these are great ways to provide free information to your customers. You’ll also build rapport and loyalty.
Turning A Hobby Into A Side Hustle: Key Takeaways
There has never been a better time than now to turn your favorite hobbies and passions into one or more side hustles. There are so many opportunities out there for you. These can see you embark on an exciting and productive career. With the right knowledge and strategies, you’ll hit the ground running and you’ll leave your financial stress behind you for go.
Just to recap:
- Conduct research before you launch and set up your business well.
- Test your idea to gain an understanding of your clients.
- Create a strategy to improve your success.
- Market yourself well to attract and interact with your ideal client and drive your business sales.
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