Categories
Home-based Business

Can you turn your hobby into a money-making machine?

Like so many other online entrepreneurs who have turned their passion into a cash generator, there are options to make your own pastime or hobby into something that can replace your regular salary.

It needs some research and a no holds barred mindset, but it is most certainly within your reach.

Jeff Walker speaks of Rules of Internet Success, and the first rule that is applicable to this question is:

“Only sell what the market wants”

Google Trends, is a useful tool to discover whether there is longevity and substance to your specific hobby. This research tool allows you to view the trends over a period of time, and how the trends differ between regions across the globe.

It’s wonderful to see how your candle making hobby would fair, for example, and how it might compare to other design hobbies too.

Get to grips with all likes of keywords and discover the power of this tool.

Image for post
Google Trends: A Keyword Exploration Tool

Remember that while you might be passionate about candle making, others might not feel that same burning desire to get their hands on a candle making kit.

If you are serious about making good money online with your hobby, it is natural that your costs should be less than your income, so be wary of having your passion burn up your good business sense.

If Google Trends is anything to go by though, it seems that the trend for candle making is on the up!

What about Production?

While people might not want to make their own candles, buying your creations can be an option. I love candles and have them in my home, and the fragranced ones are a huge favourite of mine. Love them!

I myself wouldn’t purchase a candle-making kit, but if there were products available for me to purchase, I would do it! The idea around this is that if you have a hobby that you could viably turn into a salary for yourself, make sure that you are thinking broadly about your passion.

Cater to many types of customers. The intrepid candlemaker who would purchase a candle-making kit and the other type of customer who is someone who just appreciates the art and calmness that the candle can bring to their home.

Creating a Following

The primary focus of all entrepreneurs and business owners!

With your blog content, articles or videos you create your audience will grow. Although this is never as easy as it sounds. It will take some skill and patience around generating interest for your product, your hobby, so resolve to be in it for the long haul.

Paid advertising is another great option to generate interest among your target market.

An age-old marketing strategy known as the A.I.D.A Model is still a sound framework in which to brainstorm your advertising process:

  • A for Attention

What is the product?

Does it solve a problem?

Does it centre around a passion or a personal pursuit?

  • I for Interest

Describing the benefits of the product to get your target customer to acknowledge that they like it!

  • D for Desire

If you have the customer’s attention and interest, digging deeper to get to their desires, will have them wanting the product

At this stage of the marketing process, your customers know, like and trust you, because you have added value, demonstrated how their problem can be resolved and shown them how your product can benefit their lives.

  • A for Action

I’m getting it!

Having a call to action once you have successfully bridged your client is paramount to a successful marketing plan and turning your hobby into a passion-drive business.

Your marketing strategy might also include the potential to make some extra money from affiliate links and advertising opportunities for third parties.

How about Teaching?

A report recently published on the types of content your audience wants to see, or what they engage in, is online classes.

It does most certainly tick the value-add box too since you are transferring your own skill to others. These newly inspired candle-makers might decide that they too want to make a go of things and go off to conquer their entrepreneurial dreams.

Conclusion

Having a clear idea about taking your passion to the next level does require some deep thought.

It requires an entrepreneurial mindset and if you have a deep-seated and purpose-driven need to create a business around your passions, this is well within your reach.