MAKE MONEYFROM YOUR

HOBBY

From a financial perspective, making money on something you love simply makes good sense.

Getting paid is icing on the cake if you are doing what you love.

Making money through a hobby is simply a smart thing to do.

“I am a very lucky man. I am living my life with my hobby as my profession.“ – Jim

Sullivan

Choose a Hobby

Choose a Hobby

Assess all of your options. What do you enjoy? List them out.

Educate yourself about the topics and hobbies that you enjoy.

Create, create, create. Ramp up your creation and make more items to sell.

Sell your skills. Do what you are good at based on your unique skill set.Keep your mind wide open. What do you love to do and how can you monetize it?

“I do what I did as a hobby as a kid, you know, and make a living at it. And I just feel like I’m one of the luckiest guys in the world ’cuz I get paid to

make toys and play with them.”–Rick Baker

Hobby Ideas

Outdoor Pursuits

• Become a tour guide.• Give a new perspective on an area.• Establish yourself by charging less.

Boating

• Take people fishing on your boat.• Provide them with the equipment.• Charge hourly.

Fishing

• Paint patio floors, walls and driveways.

Decorative Painting

Craft Hobbies

• Design pieces and sell them.

Woodworking

• Develop a unique brand.• Produce the things you love to make.

Knitting and Crochet

• Work with materials that interest you.• Sell your jewelry creations online and off.

Jewelry Making

Online Activities

• Earn money helping other people produce websites.

Creating Websites

• Experiment with computer art software.• Create dynamic art and sell it online.

Art Design

• Sell your photos online.• There is a substantial market for stock

photography.

Photography

“It was just a hobby. I didn’t expect it to turn into a business.” – Phil Katz

Starting Small

Start Small

Recognize that you are starting a small business.

Limit your spending at first.

Examine your tools and your knowledge base.

Focus on doing the things that you do well.

Give the pursuit a year, then expand as necessary.

“It feels important to go to school; not necessarily to further my education, but more like a hobby.” – Mandy Moore

Save Receipts and Keep Records

Tax Deductible Costs

Advertising costs.

Internet connection costs.

Office supplies and postage costs.

Printing costs.

Travel costs.

Supplies costs.

New equipment costs.

Tax Deductible Costs

Any costs incurred in performing the hobby are tax deductible if your hobby is a business.

Keep accurate records of all incomes and costs.

Use a spiral notebook and file folders to keep your business records all together. Write everything down.

Consult an accountant or tax expert with any questions or uncertainties that you have.

“I have an expensive hobby; buying homes, redoing them, tearing them down and building them up the way they want to be built. I want

to be an architect.” – Sandra Bullock

Develop Your Skills

Tax Deductible Costs

Develop your skills.

Find a mentor.

Join groups and clubs.

Watch videos online.

Read about your hobby.

“We’ve been doing this for 10 years and it’s been a hobby for a lot longer than it’s

been a job.” – John Campbell

Tap Into Your Creativity

Show off your own individual creativity.

Delve deep within yourself to come up with unique and interesting ideas.

Do something special in order to highlight your work and set it apart from

the work of others.

Show off your efforts and abilities by making your skill into something more

interesting.

“Making money is a hobby that will complement any other hobbies you have,

beautifully.”–Scott Alexander

Perfect Your Skills

Practice, because practice makes perfect.

Become a resident expert. Know everything there is to know.

Present during hobby seminars in your local area, share what you

do.Teach other people, instructing them on your craft to develop a

reputation.

“Life’s a hobby.” – Joshua Lederberg

Set Your Prices

Look at how other people are pricing similarly designed services and goods.

Consider how much time is expended in labor for the production of you products or services.

Be meticulous in all aspects of your record keeping.

Keep prices low at first to get more business when you first start out. Adjust prices later as needed.

“Golf isn’t just my business, it’s my hobby.” – Lee Trevino

Market Your Abilities

Market Your Abilities

Develop simple marketing materials.

Use the internet for marketing.

Establish a presence within the community.

Join up with the Chamber of Commerce to meet other business owners.

Display your work at trade shows.

Made contacts in the media.

Get to know other business owners.

Keep in touch.

Excellent Customer Service

Excellent Customer Service

• Be approachable to prospective customers.

• Listen actively to people who approach you.

• Apply the knowledge gain from customers to your business.

• Return all calls and e-mails promptly.

• Guarantee all goods and services you produce.

Summary

You can make money from your pastime as a realistic goal.

If you enjoy practicing your craft, you could turn it into a small hobby business.

Select the right hobby, then start small and work on developing your skills to turn your hobby into an income stream.

“Today is life - the only life you are sure of. Make the most of today. Get interested in something. Shake yourself awake. Develop a hobby. Let the winds of

enthusiasm sweep through you. Live today with gusto.” – Dale Carnegie

We hope you enjoyed your Special Report!

Curtis Roese is an experienced professional with extensive experience in personal finance and small business matters. Curtis writes and publishes articles, courses, guides and special reports on his personal finance blog.

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