It's surprising to know that sometimes, our hobbies may bring us unexpected income or turn out to be a good business prospect, even a home-based one. Take for instance a Lego hobbyist, Nathan Sawaya. He makes a six-figure living as a Lego artist. What's more surprising is that he's a lawyer and he nows spend more time working on his Lego projects (and earns more from it, too). It's a hobby. It's not work and it's definitely not a primary source of income. In fact, it doesn't start as a source of income. A hobby is something you spend money on, but you won't mind at all. The reason is simple -- you enjoy it. While it's tempting to start something with the thought of turning it into a business someday, that may defeat the purpose of a hobby.
Be great at it. This should not be a problem because you become good at something you enjoy doing. A serious hobbyist, however, goes beyond "good". He masters the craft or becomes an expert on the subject matter. It's easier turning a hobby into a business if you're great at it.
Decide if you want to turn it into a business. For some, a hobby is a hobby, and it's a mortal sin to turn it into something which makes money. Others believe that turning a hobby into a business takes away the fun. So, think hard and decide if you really want to jump into business.
Check if it's earning money. Again, you don't earn from a hobby when you start with it. If you've made the decision to turn a hobby into a business and you actually earn more from it, then it may be time to focus on it. Just like starting a business, don't quit your dayjob. Besides, it's entirely possible to earn something from your hobby while retaining your main source of income. A sideline, so to speak.
If you have more tips on how to make money from hobbies, or what hobbies have great potentials for business, please share them using the comment section below.
(Discussion transferred to Blog.Pinoy-Business.com)
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