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A few years ago, my friend Saba turned her passion for cooking into a chef-on-demand business. She started serving her local Cleveland area, but has quickly grown to cover other major cities in Ohio and plans to expand further. She is just one of many people I know who have turned their passion project into a successful business.
We all have passion projects. We do it because it’s fun, because we like the challenge, or because it’s our way of doing some good in the world. But sometimes our niche interests and hobbies can lead to marketable ideas. For many people, that’s the limit. They don’t know how to take the next step.
Mackerel had a shortcut. She was married to my friend and business partner, and she knew not only the next step, but every step after that. If you’re not lucky enough to have a supportive spouse or friend, here’s how to turn your passion project into a successful business.
Related: 10 tips for turning your passion project into a business
Hobbies that make great side jobs
You have a niche hobby and are wondering: How can I make money with this? It’s important to remember that not all hobbies are created equal, financially speaking. And niche interests that might have been profitable 20 years ago (collecting Beanie Babies, for example) can become financial sinkholes today.
By staying on top of the zeitgeist, you can predict and capitalize on trends and hobbies that are gaining public attention. There are also side hustle ideas you can start anytime, such as:
photograph
Whether it’s senior portraits, weddings, special events, or professional headshots, high-quality, affordable photography is in high demand. By showcasing your work on your website, you can book clients and earn money from your passion.
coding
from bug bounty program Beyond website design, freelance coding offers great income opportunities. A background in HTML, Python, Java, C++, or a myriad of other coding languages can be a financial advantage.
home design
If you designed your house to belong to the problem, architectural digest, Other people will notice too. Consult with us about color palettes, furniture selections, room layouts, and lighting, and bring your carefully selected aesthetic to the masses with your home design business.
Video and audio production
Whether you want to promote your brand on social media or start a podcast, a freelance producer can bring your marketing campaign to life. Sell yourself on your past work and mention your experience with the program. adobe creative suite or pro tools.
gardening
Your green thumb may put green in your pocket. The landscaping and gardening industry $250 billion According to Mordor Intelligence, in 2024, if your garden is thriving, you can fill the gap in your (proverbial) backyard.
write
Can you write clear, concise copy for a variety of clients? If so, your opportunities are as limitless as your vocabulary. Wordsmith not only acts as a speechwriter, copywriter, technical writer, and ghostwriter, but also takes care of all your editing needs.
baking
Your beautiful cakes, cookies, and baked goods can be more than just a delicious treat. They can be a source of income.Many entrepreneurs have found success with home baking in the middle of a pandemicwith proper planning and consistent clients, you can get involved.
Consider whether your hobby can become a business
Before you make a difficult commitment or make a big financial decision, consider whether you can consistently make money from your niche hobby. Who is your target clientele? What are your current practitioner fees? How much money do you have saved? How much do you think you can earn?
Before investing your money in a venture, it’s important to be clear about your expectations. The following steps will help you evaluate whether to turn your passion project into a side hustle or even a career.
Have a friend manage it
When we have such moments of epiphany, the flaws in our logic can become invisible. For a quick check, ask a few trusted friends to run your idea. They may be able to point out obstacles you hadn’t thought of or learn how to bring your ideas to life. For Sabah, that meant consulting other chefs. Avoid relying solely on one or two people’s opinions and gauge your friend’s enthusiasm. After all, close friends have your best interests in mind.
analyze the market
Maybe someone else has your idea too. Saba wasn’t the first to think of Chef His On Demand his service, but when he analyzed the market, he realized his idea could still work. Market analysis requires a thorough study of consumer trends and expectations, market size, and demand for the product.
To truly excel, you need to thoroughly analyze your competitors. They may offer comparable products, but your goal is to surpass them. Analyze customer feedback to identify gaps. If you look closely at similar businesses, you may find opportunities to fill the gaps they leave behind.
Communication network
Networking with other people who have started their own businesses and products is invaluable. They are ahead of the journey and can help you avoid costly mistakes. If you’re lucky, you might find someone who has similar experience and is willing to mentor you. A good mentor can help you find your way forward when you hit an obstacle. Keep the lines of communication open with your network and mentors. They know the twists and turns and can save you headaches and expenses.
make a business plan
Don’t invest too much money into a project before you have a detailed business plan. Preliminary steps, such as market analysis, can help you develop this document so you have clear financial expectations. Please do the calculations. Calculate startup costs, overhead, insurance, marketing budget, revenue expectations, and taxes. This will give you a base level of expectations and a roadmap for funding if needed.
Get your side job on track
Research is complete. You talked to friends and other entrepreneurs. Analyzed the market and created a business plan. Now, it’s time to take the first big step in getting your side hustle off the ground.
Turning passion into profit takes effort. Don’t be discouraged. As your business slowly takes off, you may have questions and concerns. Rely on your mentor and discuss his business plans. Like Sabah, good pre-launch work allows you to stay calm and follow your roadmap. By following these steps, you can be successful when turning your niche hobby into a business.
Build an MVP
In the world of software development, a minimum viable product (MVP) is a way to test an idea with a small group of early adopters. This is basically an early production version with only some core functionality. For Sabah, the MVP is a limited menu created by selected chefs, and she was one of them. Once her idea proved successful, she hired more chefs and added more meals to the menu based on the feedback she got from her customers. Early and true feedback is the goal of an MVP. After all, it is easier and cheaper to make changes at the beginning of the development cycle than in the middle of the development cycle.
Related: 5 tips for establishing an MVP and why it’s the most important aspect of building a startup
Set achievable goals
Be realistic about your financial expectations for the first year. In fact, it’s common for new businesses to incur losses in their first year of business as they repay their initial investment and build a consistent customer base. Saba set goals that were within reach both financially and personally.But don’t misunderstand this easy the goal. When making plans to achieve your goals, you must be ambitious but realistic.
get help
Saba didn’t build his business alone. She recognized that she needed help building the web applications that her new company needed and outsourced her work. Trying to do it all leads to stress, burnout, and costly failures. Additionally, it takes time to bring your product to market, and you may end up losing out to your competitors until the final line. Build quality products quickly by hiring freelance support or outsourcing product development to teams with the knowledge and bandwidth.
To know when to ask for help, you need to be aware of your strengths and weaknesses. You may be able to build your product, but need help with market analysis. Or maybe you need help building your brand identity and marketing your products. Outsourcing some of your work will free you up to focus on what you do best and take stress off your shoulders.
Related: Asking for help is good for you and your business
Keep track of your pulse
Markets and trends can change quickly, so it’s important to keep an eye on your competitors and monitor customer needs. The last thing you want is a product that’s outdated by the time it launches, or a business plan built around last year’s “IT.” Staying up to date with market and cultural trends allows you to change priorities when the time is right.
It’s so much fun watching my friends’ businesses grow. She handled challenges with grace and never let her setbacks slow her down. And this, too, is the key to turning your passion project into a successful business. It’s about believing in your vision enough to stick to it no matter what.