The power of entrepreneurship – turning a hobby into a business

The power of entrepreneurship – turning a hobby into a business

Shivesh Bhatia was just 16 years old when he started sharing pictures of his baked goodies on Instagram.

By 2017, he had become a full time blogger, sharing his recipes, tips and stunning images of the deserts he creates. His passion – baking has now become his business – it is a journey that clearly shows how you have the opportunity to build a business from scratch.

But just how do you go about it?

And can any hobby be turned into a thriving business?

Let’s find out – with these 5 tips.

Your hobby must be a workable business idea –

Not every hobby has this scope; but many do. Find out if there is scope for your hobby. Would someone want to buy something that you would create s a hobby? For baking and cooking enthusiasts, there is plenty of potential in marketing their produce. The same could be said for other services that offer something of value to a customer. Find out just how financially viable your hobby is and then you can get set to work on making it a business.

Your hobby must be a workable business plan –

Can your hobby be turned into a system that would function smoothly when orders come? Can you keep creating or generating your products/creations in a manner that would not keep customers waiting? Work out a system that will ensure a seamless operation when business booms. Every potential business must have a plan in place – one that will not result in customer frustration and long waiting times.

You must be able to give your time and effort into making it viable –

Are you ready to allocate the kind of time needed to work at turning your hobby into a thriving business?   Every business calls for considerable investment of time, money and effort. Can you put that kind of effort into making it a business? Are you ready to make that commitment yet? Or do you want to be able to balance it until you are ready to go full time into making your hobby your business?

What would set your hobby apart from competition?

Think about differentiating which will be a great plus point for you. Are you able to do something additional or extra that would make your business stand out from the rest. Can you offer something that is not being offered currently by your competitors? Work on developing an angle that will build a solid reputation for your business; one that will set you apart from others.

Are you ready to wow your customers?

Once your hobby becomes a proper business, are you capable of being able to satisfy your customers?  You cannot expect customers to hang around and wait for you to deliver – are you ready to exceed their expectations? Would they want to keep coming back for more? Work on fine tuning your customer service levels and make sure that every customer who deals with you leaves with a favourable outcome.

Turning your hobby into a business is something that has been done all over the world; if your hobby is a workable plan, then you too can turn your hobby into a thriving business.

Are you an entrepreneur willing to share your entrepreneurial journey with us?

Drop us a line at theditor@vyapara.lk.

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