6 Practical Tips to Turn Your Creative Passion Into an Online Business
posted on July 7, 2020 | by Rebecca Brown
To build a successful business, be it online or offline, passion is vital. While it’s no easy feat, the traditional barriers to starting a business are gone.
With the growth of affordable eCommerce platforms, online shopping, and digital marketing, it’s the best time to turn your creative passion into an online business and start monetizing your hobby.
Prepare to Lose Some Love
Chances are you have heard the clichéd expression, “Choose a job you love, and you will never work a day in your life.” While there is still an element of truth in the quote, you will indeed have to put in a lot of work into this, especially if you are creating your job rather than choosing it.
You will never feel the same way about your passion once you turn it into an online business. But, passion and love for what you do are still essential to entrepreneurship. They will keep you going during critical times.
Your creative passion will stop being a hobby when it collides with the reality of:
- Filing taxes
- Watching competitors
- Managing inventory
- Hitting targets
- Tracking sales and cash flow
- Assembling the right team
If you want to do what you love for a living, you need to be prepared to surrender some of that love.
Balancing Creativity and Commercialism
If you have a creative hobby that you want to turn into a business, such as crafting, photography, creative writing, or painting, you need to find a way to quantify it and make it marketable.
You will have to work within boundaries when your creations become your products or services. You can do things however you like when you are creating something for personal fulfillment. But, when you are running a business, you need to ask:
- How much does it cost to produce?
- How long does it take to produce it?
- How will I ship it?
- How much should I charge my clients or customers?
You also need to meet market demand if you want to succeed. The reality of business is that what your customers want to buy may not be the exact same thing you want to make. You will have to be prepared for compromise if you want to turn your creative passion into an online business.
Figuring Out The Right Way To Monetize Your Hobby
It’s good to be enthusiastic about your passion and skills, as well as the online business that will flow from them. But don’t assume that your target audience will be thrilled about your products or services just as much as you are.
It can be tough to keep perspective when you are trying to turn a hobby into a business. To find out what works and what doesn’t work, you will need to test ideas with your market.
Just going for it because you think you have a great idea isn’t the best way to go. Instead, you need to make sure your service or product is a solution to a real problem people have. You can also focus on improving existing products or services in the market.
Make a Business Plan
Many entrepreneurs that have gone down this road haven’t stopped treating their hobbies as hobbies, which is a terrible mistake.
You don’t need to be a natural talent at running a company or hold an MBA, but you should have proper business and marketing plans. Even if no one ever sees them, these will be some of the most important documents you’ll ever write.
And, if your business grows, you will need to know how to successfully manage a team of employees. You will be able to see the bigger picture once you write a business plan.
It can open your eyes and help you see whether your creative passion is worth pursuing and to what lengths. If this is something new to you, it is best to seek out a mentor or a business coach who can help you out.
To figure out which marketing channels and platforms will work best for your business, you need a marketing plan. These plans will help your brainstorm ideas, plan budgets, and truly understand your niche and your prospects.
Building a Brand With Free Content
Content is a great way to find clients or customers when you are running an online business. However, it takes time to create quality content, so be prepared to build it slowly. But, content marketing can deliver a great ROI if you do it right.
Along with pitching products, it is a good idea to invest some effort into building your blog. Blogs are a great tool for market research. It will help you establish a better connection with your readers.
You can share your passion with others by writing “How to” blogs and teaching them skills that are relevant to your hobby/business. Content creation is the main thrust of many online businesses. Use it to build your own unique brand.
Separate Your Professional and Personal Goals
It’s easy to lose track of time when you are doing what you love to do. It can be difficult to get your work-life balance right because both the business and the passion can soak up a lot of your energy.
Still, you shouldn’t let your business drive your life. Don’t neglect your personal goals. To make room for travel, family, and “you” time, you need to plan accordingly:
- Don’t be afraid to turn someone down. You are not obliged to pursue every opportunity.
- Delegate tasks to members of your team. You need to know when and how to give up control.
- Hire people who can take on part of the burden.
Building a business is exciting, especially if it is based on your passion. But, when things get going, you will have a different relationship with your creative side. It is important to:
- Prepare for a long haul
- Prepare to make compromises
- Test and refine your idea
It is also a good idea to hold onto your day job in the beginning. The rewards will be great once you’ve put in the time. If you put in enough effort, eventually you will be making a living doing what you want.