Turning A Hobby into A Career May Provide Work-life Balance

Many women consider working from home as a career option that allows flexibility around their family.

As a parent finding a career which ticks all the boxes is so difficult. You have childcare costs to consider as well as the long summer holidays to contend with. Being employed on a traditional 9-5 basis can be a challenge unless you have a good support system in place. Many women are considering working from home as a career option that allows you to work flexibly around school or nursery times.

Working from home also eliminates the time wasted on the daily commute. What can you work as from home though, are there any lucrative options available with all the benefits of flexibility? Could you ask your boss if it is possible to work your current role from home? Do you have a hobby that you could turn into a potential career? Many people have become successful entrepreneurs by creating side hustles by using their current skills. Imagine how wonderful it would be being your own boss and doing something that you love! 

Upscaling a hobby into a business may seem a little daunting. It’s often fear which holds us back from following our dreams. Imagine life with no commute and keep a vision at the forefront of your mind, as to what you would like your working life to be and this will enable you to stay on track.

Upscaling a hobby may throw up barriers such as storage, and manufacturing your products may no longer be as simple as creating a few items in your back room. However, technology has infiltrated all sectors of business and it is making production, creation and storage so much easier. It is possible to buy the latest technology relating to distribution such as a platform scale to assist with accurate weight measurement or consider purchasing the latest cyber security software to keep your business safe from a data breach.

Take a good look at your skills and discover if they could be turned into a profitable business.

Draw up a business plan

Your first step is to create a business plan as this will enable you to identify expenditure and timescales. Depending on your type of business, you may need to take into account fluctuations due to seasonal variations. This will most likely affect you if you produce products for the gift and Christmas market.

Your business plan will enable you to identify a point in the future when you should expect to be making a profit. It’s normal to break even or lose profit in the beginning. This could be due to expenditures related to setting up the business and purchasing materials and equipment. It is tempting to skip the business planning part when you are upscaling a hobby. Never the less, it is essential when you are running on a budget.

Carry out market research

It is likely that you have had amazing feedback on your business idea from friends and family. Otherwise,  you wouldn’t be considering starting a business in the first place. This feedback is likely to be biased. You need to showcase your products to your target market in order to receive honest feedback. Do this prior to launching your business so that you can make any necessary tweaks.

Carry out market research by carrying out interviews face to face, in focus groups, and online questionnaires. If your products are edible or handmade it would be a good idea to let people taste and feel the quality. This step will ascertain whether there is sufficient market for your products. Make sure you listen to any negative feedback and don’t just focus on the positives. This will enable you to design a business which resonates perfectly with your target consumers.

Red tape and legal stuff

You will be involved in selling products or services to the general public,  so you need to ensure that your business complies with legal requirements. Laws and regulations are stringent, especially if you are creating food products or products for children. Check out the regulations in your area as they vary depending upon region. Don’t forget about insurances that are designed to protect yourself as well as members of the public.

Register yourself as self employed.

Once you have everything in place, all that is left is to create a brand, launch your business and start sellng! Hopefully you will have created a career providing a good work life balance in no time at all.

Turning A Hobby into A Career May Provide Work-life Balance appeared first on Mompreneur Media