Tackling The Entrepreneurial Dream

Hobbies can be great fun, especially at the end of a long day. They help you to relax and recharge your batteries. And it’s easy to understand how, if you’re struggling with a hectic career, you might be tempted into turning your side-hustle hobby into a regular 9-to-5 job. Whether you want to bake cakes as a living or to become a professional blogger, tackling the entrepreneurial dream doesn’t happen overnight. More importantly, it doesn’t matter how motivated you are. You need to embrace a business mindset to make your project work. Here are the 4 essential aspects you need to consider before quitting your job.

From Hobby Crafter to Business Owner
From hobby crafter to business owner

Plan one step at a time

First and foremost, test the waters before taking any decision. It’s not safe to quit your day-to-day job before you’ve developed and established your hobby as an income-generation activity. While baking one cake or sewing one dress can seem easy, when you decide to turn your hobby into a full-time career, you will need a lot of capital and clients to get it off the ground. Consequently, you should always stick to your 9-5 until things have been clarified and you’re ready to take on large orders from your side hustle. The waiting strategy can feel a little depressing at first – especially if you’re already decided that you don’t like your office job –, but in the long term, it is the safest bet of all.

Get the extra skills you need

Let’s be honest; you might be a great crafter, but turning a hobby into a business requires more than excellent craft skills. You need to know how to run a business, starting with an organizational leadership degree online if you plan to get a team onboard. Additionally, you’ll find it useful to get basic courses in accounting, taxes, and marketing analysis. Indeed, you are likely to start in a solitary position before you can expand and hire a team.

Can you get funding for a new company?

Starting a company doesn’t happen for free. You need to secure enough capital to get started – whether you want to launch a vegan bakery or create a lifestyle vlog. That’s precisely why it’s essential to look into crowdfunding opportunities at the beginning of your project. Business loans, equity crowdfunding and even cryptocurrency funding are options that are worth investigating. Ultimately, you want to pick the most valuable and meaningful choice for your audience.

Should you do it alone?

Taking a business partner may not be a usual choice for side-hustlers who launch a company, but more often than not, it can save you a lot of trouble. At the heart of a partnership, you need to find someone you can rely on, both as a person and as a business asset. Your partner, for instance, should bring new and essential skills to your business. If you’re a talented crafter, a partner who understands the market fluctuations or who knows how to network with the right people can push your brand name forward. Additionally, you need someone who understands your business vision and who supports it. If your visions are not compatible, you will both be wasting your time.

A Partner You Trust

If you can’t bear the idea of getting back to work, it’s time to give some serious thought to your side hustle project. Are you ready to go big with it? Let’s do this!

Have a Great Week!

Love and Blessings

Disclosure: This post MAY contain affiliate links and I may receive compensation if you make a purchase after clicking on any of my links. For more information about FTC disclosure requirements, please see here

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About Kimberly Miller 3486 Articles
Kim is the CEO of Life in a House, proud mother to two great sons, and 2 beautiful granddaughters. She loves spur-of-the-moment road trips and weekend getaways to Norfolk and Virginia Beach. She has been blogging for over 17 years and focuses on family, home, and lifestyle topics. She loves hosting giveaways and putting together great gift guides for likeminded grands looking to spoil their grandkids. Her dream is to retire to a little cottage on the beach and spend her days collecting shells with her granddaughters.
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