Do you have a hobby
you’re good at? If there’s anything you currently do for free that others seem to demand often, you may want to consider monetizing it. Ready to move from hobby to hustle?
Here are 7 mindset shifts you need to be deliberate about:
- No naira, no business. True, you’re used to doing this for free, but now it’s a business and should be treated as such.For it to be a business it has to be making money. Otherwise, it makes no sense. A hobby is a hobby, a business is a business.
- Start doing. It’s so easy to get caught up in thinking about a business, reading about business, watching YouTube videos about business, planning a business… just do it already! This is not to say that these things are not important; they are. Just bear in mind that spending too much time in your head, instead of launching your business, is self-sabotage. Start, tweak as you go, make mistakes, celebrate your small successes, learn from the fails, and keep growing. Start lean, and learn fast. You can never start unless you start.
- Charge what you’re worth with confidence. Or “with your chest”. The thing about monetizing a hobby is you’ve been doing it for free, so charging for it might feel a little strange at first. You might also find yourself stuttering when it comes to naming your price. The sooner you overcome this, the better your chances of thriving in business. Take a good look at the product or service you’re offering and evaluate how much time, labour and expertise go into it. Then look at your audience, and charge accordingly. Of course some people will have their opinions about your prices. If they object it simply means one of two things: they’re not your target audience, or you need to get better at communicating the value you’re offering.
- Stay positive. Negativity is one of the easiest things to find out there. Surround yourself with people who believe in you and support your dreams. Know the things that feed your positive energy and be deliberate about embracing them. Ignore the naysayers.
- Ask for help. When you’re moving from hobby to business, it helps to have an experienced entrepreneur in your corner. This could be a mentor, a business coach, or simply someone who is successful in business and can give you some pointers. Be open to their advice and learn all you can.
- Hustle. You need to hustle. You need to sell. Every one of us is selling something, whether we acknowledge it or not. You’ve got to put in that effort. You can’t just expect customers and clients to find you somehow, or assume that God will bring them. Your faith should fuel your hustle, not make you lazy.
- Go big, or go small. Yes, we always hear “go big or go home” but not everyone has the capacity or inclination to go big. You don’t have to go home if you’re not inclined to go big. It’s perfectly fine if your hobby grows into a small business and continues that way. Sometimes a small business is exactly what your business needs to be, and that’s okay.
All the best with turning your hobby into a business!
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This article was first published on 23rd August 2018