Hobbies are varied ranging from car racing to stamp collection. They can be done with a bunch of people or as a solo effort. Some hobbies are done inside (playing an instrument) or outdoors (hiking). Hobbies can bring comfort, emotional or physical outlet, intellectual stimulation, and a sense of connection and achievement. Have you ever pondered about the possibility of making some extra cash from your hobby? Don’t dismiss us yet.
We are not suggesting you sell out your personal hobby as a business. However, look at it as a novel monetary support for your hobby. Say playing the guitar is your hobby, playing for a small audience in coffee shop will not only boost your confidence but also help you pay for guitar strings that wear out every now and then. Find ways to turn your favorite hobby into a source of income and make it more exciting. Here are 5 easy tips to help you do that.
1. Hone your skills
Before you venture in this domain, it is necessary for you to ensure that your skills and knowledge of the hobby is stellar and comprehensive. You do not have to be an expert, but you don’t want to come across as a sketchy personality. If you have just started your hobby, we suggest you spend some time honing your skills. If you are confident about your skills, don’t get carried away, engrave the basics in your system. This is applicable for everyone especially for people whose hobby is playing a musical instrument. A strong foundation will help you reach the apex.
2. Teach your hobby
This is the holy grail of monetizing your hobby, especially if your hobby is skill based. Teaching your hobby helps you strengthen your own skills, develop teaching skills (and other inter-personal skills) and of course some financial remuneration. You can start by giving by giving lessons at subsidized prices to beginners, amateurs and children in your network. As you hone your teaching skills, you can increases the number of pupils and the rates per lesson. Clarify that you are no expert, but you know a great deal about it. Be genuine and religious about your craft and the rest will follow. People whose hobbies include playing instruments like the piano, keyboards, guitars and violin and photography enthusiasts will greatly benefit by giving lessons.
Pro Tip: Schools, Universities and Religious institutions are constantly on a look out for teachers.
3. Promote your hobby
If you are looking to make money from your hobby you will need to promote/talk about it at a certain level. We don’t mean spamming people with promotional material all the time. Here are few quick ways you can promote your hobby, lessons and also the outcomes/products.
• Start a website.
• Blog about your hobby – give away easy instructions, tutorials etc.
• Photograph your hobby and share information with people.
• Use online portals like eBay, etsy.com and other classified sites to sell products (if any)
• Use crowd-funding like Kickstarter to garner financial support for ambitious projects.
• Word of mouth is one of the oldest and the most effective modes of promotion. Never shy away from opportunity to talk about your hobby.
4. Start or Join a community
Being part of a community with like-minded individuals will inspire you, motivate you and teach you new aspects of your hobby. Knowledge when shared only multiplies and comes back tenfold. Joining a community gives you access to ideas and a network of individuals (and their network). While starting a community is challenging, the outcome and results are unmatched. You have control on the size and nature of the group and it also gives you authority and validation of your skills. You can start by meeting on a monthly basis discussing, learning and eventually strategizing on ways to reap more benefits. Isn’t this how most bands function? Think about it.
5. For the love of your hobby
Finally, we address the moral issue of monetizing your art/skill. This is a never ending discussion. Purists will always be against any form of monetization. In our opinion, the answer is rather a simple. You are a hobbyist, remember? You started your hobby because you love doing it. If there is a way for you continue your hobby and support it by making some money, what is the problem. This trick is to stay true to yourself and your hobby. Do it for the love of it and not the money.
We hope you liked these tips to make money from your hobby. We at Buxsa are committed to fuel your passion for your hobby.