Monday, February 4, 2008

How to make money with your hobby

You can make money from your hobby.

Whether you knit, or write, or make photographs, or grow a vegetable garden, or tinker with cars, or build web sites, or collect ancient coins — you can make money from your hobby.

I’m not saying it’s possible to get rich by playing your violin at weddings, or by weaving baskets from pine needles, but earning money from a hobby is a nice way to get paid for doing something you would do anyhow.

First, by way of introduction, here are some ground-rules for making money from hobbies.

Focus on something you love
Pursue something you’re passionate about. Choose a hobby that you enjoy, and find a way to make money from it. Don’t choose a hobby simply because it might make money and then dive into it with that aim in mind. You should be doing this hobby because you love it; any side-income should be secondary.
Keep it fun. Don’t let it become a chore.

Be creative
If you’re interested in making money from a hobby but don’t know where to start, think outside the box. What skills do you have that others don’t? Define the term “hobby” broadly. Find something that you can do that most others cannot, something for which other people might be willing to pay.

Don’t force it
Your hobby will not make you rich. In most cases, it won’t even net you enough to allow you to quit your day job. It’s quite possible, however, to earn enough money to make the hobby self-sustaining, to keep yourself in new tools and equipment.

Don’t underestimate your ability
It’s easy to discount your abilities. When you truly love something, your prolonged experience can give you skills and knowledge that you don’t appreciate.

Market yourself
This can be difficult. In order to actually earn income, you need customers. But just as most people have a tendency to underestimate their abilities, they also tend be uncomfortable with self-promotion. Try websites like www.racooda.com to find others who need things done and are willing to pay.

Hone your skill
Practice, practice, practice. The more time and energy you’re willing to devote to your hobby, the better you will become. The better you become, the more likely that you’ll be able to earn money from it.

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