Making money is a topic that cannot seem to get enough coverage. To the majority of people, this remains a mystery they cannot unravel. Those who seem to do well financially are often seen to be the most miserable due to job pressure. It is almost an unwritten rule that bad jobs pay best, and millions keep on day by day doing something they hate – something that puts food on the table. What if you could learn to make money doing something you like? If you have a hobby, you could use it to make yourself spare cash in your free time or make it your full time job. There are so many ways to monetize your hobby and make lots of money while at it.
Make Money from Your Hobby 1: Become a Consultant
After practicing something for long enough, you may already have gained the requisite knowledge about your field. You could even be the go-to-person in your neighborhood. Your goal should be to perfect this knowledge and become a pro. You can enroll to a few classes, attend some networking events and basically collect information about your hobby. Armed with that, you can organize talks, write commentaries. If you are very good at it, you will find more invites coming from word of mouth referrals. Community events can easily get sponsors, earning you much more in the long run.
Make Money from Your Hobby 2: Become a Trainer
While hobbies are very personal engagements, there is no harm doing it with a friend or friends. I started training quite by accident – watching my kids swing at the park while I crocheted. I began to receive requests from people who wanted to learn, and these first trainings were given free. To get your first clients, start by soliciting people to join you from your community, Facebook groups or family. Form a club and invite people who are interested from your neighborhood or church. Since you will be spending your time training, you need to charge a fee to cover your costs. This is highly effective in spreading your knowledge. I have since learnt that people that pay for training are serious people that are likely to go the full mile and practice with you.
Make Money from Your Hobby 3: Sell Items You Make
Have you made items that you can’t use right away? Or did you make something you thought was awesome only to realize it doesn’t fit in with your décor? The internet makes it easy to sell your items online, share pictures and even digital items. I posted some items on Facebook as I was trying to get a quorum and I ended up selling them. Look out for groups and sites that specialize in your area. Some people who like your projects may also request you to make for them. Participate in sale events in your local area – even if your products are digital handing out business cards will widen your reach.
Make Money from Your Hobby 4: Sell Ideas and Designs
People who are passionate about something often find themselves getting better, learning new tactics and growing new ideas. Write down ideas as they come to you and sell these to people as patterns to follow. This is perfect for meal planners, nutritionists, crocheters, knitters and designers. Digital delivery platforms make it possible and simple. You can list recipes, patterns, designs, meal plans, diets and more. I still use patterns to crochet, but my best friend makes patterns that she sells on Etsy and Craftsy.
Make Money from Your Hobby 5: Buy Materials in Bulk and Sell
Chances are you are already buying items in bulk especially if you have been at it for a while. When I buy items in bulk, I get crazy discounts and special wholesale prices enabling me to save. I use this opportunity to stock up and share with others who need the products in smaller quantities. This is a perfect idea for trainers as they have a good market in their students. Both physical products and digital products have discounts for bulk purchasers.
If you are wondering whether monetizing your hobby is a good thing, think of all the time you spend in it. What if you could earn $10 every time you were doing it? This might be the perfect way to save for your vacation. Most people are comfortable in their hobby because they do not receive undue pressure in it. This may conflict with the idea of making money from it because from our thinking, work should be hard!!
If you missed the memo – It’s out there: You can have fun and make money at the same time. I realized this was a great way to raise enough money for my stash of yarn. Hobbies are expensive and one may find they cannot do as much as they want. Carefully plan your work so you are not unduly pressured. Give your clients and students realistic time frames. When I post my items on Etsy, I make the delivery expectation clear so that I don’t disappoint people or pressure myself. Passion is the perfect ingredient you need to monetize your hobby. It will keep you trying even when you have one student and this endurance soon turns into cash. Think of all the time you could spend doing what you like, if you only had the money, and the change your ideas would bring to the marketplace.