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A 3-Step Guide to Turning Your Hobby into a Successful Startup

A 3-Step Guide to Turning Your Hobby into a Successful Startup

Turn hobby into startup

So many of us are unhappy with our 9-5 jobs. How many times have we painted a bright picture of ourselves leading a life where we are getting paid for what we’ve actually wanted to do all along? The picture always seems beautiful, but the reality of going through with it is a little confusing. Where do you start? How can you turn your hobby into an income-producing business? Turns out, it isn’t as simple as quitting your job and going for it. Instead it requires a step-by-step plan of decisive actions.

  • Feedback: You may not be the best judge of your work. Have someone related to your field review your work and point out your shortcomings. In fact, it would be much better if you have a mentor, a trained professional in the same field as yours, who could guide you through every step. If you are going to go through it, don’t be just mediocre, be good. Your idea and your skills have to be good enough to succeed. If possible, find a community of professional individuals or group who can access your idea and work and help you along with some tips. Surround yourself with a team that helps you learn and create a network of trusted peers.

 

  • Funding: After you are able to identify a central idea for your startup, it’s time for you to seek funding for your new business. Even if you don’t require the initial funding, you may want to get a ‘Proof of Concept’, so that you get a rough idea whether people are interested enough to buy your product or engage in your services. The best way to go about it is through a crowd-funding campaign. You could use platforms like Kickstarter to raise donations.. The key here to present your idea in such a way that it sells. Out of thousands of businesses that launch every day, the challenge is to be unique and stand out from the rest, How is your product different from the rest? Why should anyone spend money on your product?
    Justify your business in such a way, that there are no doubts

 

  • Business Plan: No one succeeds without a well-thought out business plan. A business plan, even for the smallest or earliest-stage idea, can be a valuable tool for your business. It is like a roadmap for your business that details your specific objectives and how you’re planning to achieve them.
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