How To Turn Your Hobby Into A Side Hustle: A Complete Guide

Wanting to turn your hobby into a side hustle? Here are the key steps you need to take to get things going:

1. Ask yourself this: Do you want to turn your hobby into a side hustle?

The reason you do your hobby in the first place is because you enjoy it. You do it so that you can forget about the world outside and get lost in whatever it is you do. By turning it into a money-making hobby, if money doesn’t start pouring in, will it make you fall out of love with it?

If so, ask yourself if it is worth potentially losing the hobby you enjoy doing so much for the sake of some extra cash.

2. Research/Brainstorm ways your hobby can make money

After asking yourself whether you want to continue on this money-making journey, the next step is to research ways to actually make money from your hobby.

Some are easier than others: those who knit can sell what they make, those who cook can become private chefs, if you’re into running for example, you’ll need to be a bit more creative about it.

Take a weekend to really brainstorm ways that you can make money from your hobby.

Think of different angles; there is obviously the online route, but are there other ways to that have a lower barrier entry – taking the running example, could you research people’s strava times and offer to be paid to beat their friends for example?

If you can’t think of anything, feel free to join my Slack community which can put you in touch with fellow side hustlers like yourself in real time. It’s free to join and a really great resource to have at your disposal.

3. Market Research

Now you’ve got your idea, what is the market like? Is it a competitive market where you will need to vastly standout to make some noise? Or is it so small that there isn’t a market for it in the first place?

Or have you found yourself a niche just right that you can really penetrate and dominate?

Basic checklist of market research for you to do:

• Note down online and physical competitors – these two lists are rarely the same

• What are they doing? How do they conduct their business? Do they offer courses, subscriptions, products, content? Make a note

• How long has the market been running? Is it a new market that is a trend or is their longevity?

• Define your customers/audience – who do you actually want to be reaching/serving o How difficult will it be to introduce your idea/product to them?

This is a pretty good start to help you understand more about the foundations to your side hustle.

4. Get Started

A lot of people always wait for the right time to get started. The truth is:

There never is a right time.

The only way you’ll know if it works is by doing and gathering the data. So just get started.

Start off with friends/family/local community groups you are a part of to see if it can help.

Potentially give them free versions of the product/service to see if they notice benefit. Take their testimonials and use it to advertise yourself.

This way you’ll know that you have a minimum-viable product and can start to charge people for it.

5. How far do you want to go?

Is this an idea that you just want to earn extra cash on the side, or do you want to turn it into your full time gig?

Your first few months of trading will be able to indicate the future success of your business. If it really takes off, you may have a big decision to make (an exciting one, but a big one!)

If it is making at least 60% of your monthly salary on the side, that is when it is best advised to take the leap and really give it 100%.

And if it isn’t perhaps keeping that safety net a little while longer is the best thing.

But one day, deep down you’ll know that you’ve got something that’ll fund your retirement.

Benefits of Starting a Side Hustle

1. Having another income stream can really ease the pressure off of your 9-5, especially given today’s current climate of layoffs and financial pressure.

2. Helps you develop as a person and a working professional – by opening yourself up to new experiences/challenges, you’ll also open yourself up to valuable lessons and skills you’ve never done before.

3. It is completely flexible – because you’re in charge of it, and it doesn’t take up your entire life, it means that you are able to define when you can work on it and when you want to prioritise something else.

4. It can give you a little taste – if you are still unsure about turning your hobby into a side hustle, by starting off really small it can give you a window into if you really want to do it or not!

That’s How You Turn Your Hobby Into a Side Hustle

This is just the foundations of what you need to do if you are thinking about turning your hobby into a side hustle.

Without having some thought behind it, you’ll be going in blind and be feeling around in the proverbial dark.

If you are wanting to start a side hustle and don’t know how to get it out there, I’m a digital marketer that has his own side hustles and would love to help you out!

Feel free to reach out for a no-obligation, free consultancy call and I’ll be happy to be someone to bounce ideas off of!