Make money from your hobby-Easy ways to start your own small business

HOW TO MAKE MONEY FROM YOUR HOBBY

Easy Ways to S tar t Your Own Sma l l Bus iness

http://EternalSpiralBooks.com

2

From a financial perspective, making money

at something you love simply makes good sense.

Getting paid is the icing on the cake if you are doing what you love.

Making money through a hobby can help you make the most of what you know and enable the hobby to pay for itself as well. You can enjoy it yourself for free, or very cheaply.

Introduction

3


“I am a very lucky man. I am living my life with my hobby as my profession.“ – Jim

Sullivan

Choose a Hobby You Love

4

Choose a HobbyAssess all of your options. What do you enjoy? List them.Think about all you know about the hobby-what would others pay to learn about it? Crafts-ramp up your production and make more items to sell, especially as gifts.Sell your skills. Do what you are good at and love. Look for opportunities large and small. Can you make money online with your hobby?


5


“I do what I did as a hobby as a kid, you know, and make a living at it. And I just feel like I’m one of the luckiest guys in the world ’cuz I get paid to

make toys and play with them.”–Rick Baker

Hobby Ideas

6

Make the most of what you have

• Become a tour guide.• Give a new perspective on an area through your personal

tours.• Establish yourself by charging less than the competition.

Boating

• Take people fishing on your boat.• Provide them with the equipment.• Charge hourly.

Fishing

• Paint people’s houses, inside and out, stenciling and more.

Painting gear


Arts and Crafts

• Design pieces and sell them.

Woodworking

• Develop a unique brand.• Produce the things you love to make.

Knitting and Crochet

• Work with materials that interest you.• Sell your jewelry creations online and off.

Jewelry Making


7

8

Online Activities

• Earn money helping others create websites & blogs.

Creating Websites

• Experiment with computer art software.• Create dynamic art and sell it online.

Art Design

• Sell your photos online.• There is a substantial market for stock

photography.

Photography



9

Sell Related Products as an Affiliate

Many hobbies require certain supplies. Make a list of those supplies. Find places online that sell them that have

affiliate programs. Amazon has one of the widest selections of

products in the world. Their products convert at a very high rate.

The more you sell, the more commission you earn.


10

Make money passively

Buy supplies through your account (NOT the same one as your seller account) and you will get an instant discount on everything you need to buy.

Create top 10 lists, shopping lists and more to help those new to the hobby, and cash in on items they will all need to buy.

Give these lists to clients, post them online and so on Create them once, and your affiliate links will keep

on earning for you over and over again.

11


“It was just a hobby. I didn’t expect it to turn into a business.” – Phil Katz

Starting Small

12

Start SmallRecognize that you are starting a small business.Limit your spending at first-don’t go wild in anticipation of making more money.Examine what tools you have and what knowledge you possess.Think of ways to translate what you have and know into cash. Give the enterprise 6 months to really get up and running properly and proftably.


13


“It feels important to go to school; not necessarily to further my education, but more like a hobby.” – Mandy Moore

Save Receipts and Keep Records

14

Tax Deductible Costs

Marketing and advertising

Internet connection and subscriptions

Office supplies and postage

Phone

Travel, car, gas

Supplies, educational materials

New equipment


15

Tax Deductible Costs Any costs incurred in performing the hobby are

tax- deductible if your hobby is a business. Keep accurate records of all incomes and costs. Save all receipts. The IRS will not accept credit

card statements only. Use a spreadsheet, file folders and a good

bookkeeper and accountant as needed. Consult an accountant or tax expert with any

questions you have. Your corporate entity, that is, sole proprietorship,

LLC and so on, will affect what is deductible.http://EternalSpiralBooks.com

16


“I have an expensive hobby; buying homes, redoing them, tearing them down and building them up the way they want to be built. I want

to be an architect.” – Sandra Bullock

Develop Your Skills

17

Tax Deductible Costs

Develop your skills.

Find a mentor.

Join groups and clubs.

Watch videos online.

Read about your hobby.



18

Use everything you learn to earn

Use everything you learn in order to earn more money.

Keep track of expenses. Create great teaching resources and sell them online Use the resources for teaching and consulting work

as well. Remember, you don’t have to be an expert or genius,

you just have to be several steps and skills ahead of your students.

19


“We’ve been doing this for 10 years and it’s been a hobby for a lot longer than it’s been

a job.” – John Campbell

Tap Into Your Creativity

20

Show off your own individual creativity.

Delve deep within yourself to come up with unique and interesting ideas.

Do something special in order to highlight your work and set it apart from

the work of others.Show off your efforts and abilities by

making your skill into something more interesting.


Cash for Your Creativity

21


“Making money is a hobby that will complement any other hobbies you have,

beautifully.”–Scott Alexander

Perfect Your Skills


22

Practice and improve your skills and abilities.

Become a resident expert. Learn the most important things there are is to

know.Present seminars in your local area, share what you do, enjoy back of the

room sales.Teach other people, instructing them

on your craft, to develop a reputation.

Perfect Your Skills

23


“Life’s a hobby.” – Joshua Lederberg

Set Your Prices


24

Look at how other people are pricing

similarly designed services and goods. Consider how much time is expended for the

production of you products or services. Be meticulous in all aspects of your record-

keeping. Know what everything costs. Keep prices low at first to get more business

when you first start out. Adjust prices later as needed.

Set Your Prices

25


“Golf isn’t just my business, it’s my hobby.” – Lee Trevino

Market Your Abilities

Market Your AbilitiesDevelop simple marketing materials.

Use the internet for marketing.

Establish a presence within the community.

Join up with the local Chamber of Commerce to meet other business owners.

Display your work at fairs, trade shows and conferences.

Made contacts in the media.

Get to know other business owners.

Network regularly through LinkedIn.http://EternalSpiralBooks.com

26

27


Offer Excellent Customer Service


28

Excellent Customer Service

• Be approachable to prospective customers.

• Listen actively to people who contact you.

• Apply the knowledge gained from customers to your business.

• Return all calls and e-mails promptly.

• Guarantee all goods and services you produce.

29

Summary You can make money from your hobby if you establish a

business mindset. If you enjoy practicing your craft, you could turn it into a

successful small home-based business. Select a hobby or skill you love. Think of ways to transform what you have, do, know, into a

saleable skills set or inventory of item you can sell online or in the real world

Use your knowledge for coaching, consulting, and other information-based products and services, to teach beginners all you know and help them enjoy the hobby too

Buy and sell hobby-related supplies as an affiliate


30


Final Thoughts

“Today is life - the only life you are sure of. Make the most of today. Get interested in something. Shake yourself awake.

Develop a hobby. Let the winds of enthusiasm sweep through you. Live today with gusto.”

– Dale Carnegie

To your success!

Small Business & Entrepreneurship

Make money from your hobby-Easy ways to start your own small business