The start of a new year can get us thinking about what the future holds. One goal many of us want to achieve is finding a job we love. If you’re bored of your current job, you long for new challenges, or you’ve always wanted to do something, but you haven’t quite made your dreams a reality, it may be time to give your goals a shot. If you don’t try, you’ll never know what could have happened. A growing number of people are deciding to use their creative skills and hobbies to forge a new career path. If this is a road you’re considering taking, here are some tips to help you turn passion into paychecks.
Making logical plans
If you’ve got ideas swimming around in your mind, now is the time to start putting things down on paper and coming up with logical plans. How are you going to turn your dreams into a viable, profitable business model? It’s not enough to have talent or be bursting with brilliant ideas. You need to be able to use your skills and creativity to make money. Without a business plan, there’s a higher risk of failure, and you may find it difficult to get investors on board or apply for a loan. Developing a business of any kind requires careful, rigorous planning. Your business plan should provide the answers to all the questions a potential investor or partner would ask. How do you plan to generate an income? What are you going to spend your money on? How much do you estimate turning over in the first 12, 24 or 36 months? What are your main income streams? How much do you plan to take out of the pot as a wage? If you can’t answer these questions yet, you need to do more research.
Financing your business
Launching a business of any kind will cost money. You may be a blogger, an artist, a musician, a hairdresser or a kid’s entertainer. It doesn’t matter what kind of company you’re setting up, you need firm financial plans in place. How are you going to cover the initial costs and then ensure that you have enough money to keep the business afloat? You may have savings or money set aside that you can use or you might consider the option of borrowing money or getting investors on board. Explore the options in more detail, weigh up the pros and cons and think about how you’re going to maximize profits from the outset.
Spreading the word
Once you’ve got a business plan and you’re ready and raring to go, the next step is to spread the word. How are you going to alert people to your new business and bring in sales? There are so many ways of marketing and promoting a business, and you should tailor your approach to suit the type of venture and your target market. If you’re a blogger, aim to form ties and partnerships with other bloggers and firms that use blogs to market their products and services. If you’re a singer or an artist, get in touch with local venues, organize events and use social media to generate a buzz and get your name out there.
Image courtesy of https://www.flickr.com/photos/143601516@N03/28188286432
Most of us would love to have a job that enables us to do something we’re passionate about every day. Hopefully, this guide could help you turn your hobbies into a career.
Miss Penny Lane is about creativity, inspiration, life & all things lovely.
Everything you see on mspennylane.com is made by myself, unless otherwise stated.
All opinions are my own. I buy most of the product myself and I can assure you that everything you see on my blog is genuine. When writing reviews I weigh up the pros and cons and add my opinion.
There is some affiliate linking to gain a small amount of commission.
I am happy to receive emails for all business inquiries. However, I will work with only those that reflect the interest of this blog.