Selling a good or service is the most obvious way to make money from a hobby but there are lots of ways to create income from doing something you love. With some creativity and ingenuity, you can find unexpected ways to profit from your hobby. And here are 4 ways to profit from your hobby…
- Teaching DIY
- Speaking to groups
- Writing content
- Creating memberships
Let’s break things down:
Teaching DIY- while it is fun and a creative outlet to make something, lots of people would love to know how to do things for themselves. You can easily expand your offerings to teaching others how to do your hobby. Teaching others to DIY doesn’t have to be time-consuming; there are a lot of ways to teach. Consider:
- Creating an online class once that can be sold multiple times with an online link
- Creating a checklist, diagram, or step-by-step guide that can be an instant download
- Offering one-to-one tutorials as a big-ticket item for sale
- Hosting a retreat for serious students
- Offer coaching for small groups over a period of time
Speaking to groups- Hobbyists often meet in groups. It may be an opportunity for you to be a speaker and sell your goods, services, or tutorials from the stage or back of the room. If you have special tips, tricks, and techniques, they likely have special value and will get you front and center as a speaker.
Writing content- Creating something complementary to your hobby-based business is an excellent way to monetize your hobby. Creating a resource, checklist, report, guide, or eBook that teaches or offers tips, tricks, and techniques has value. You can make money while you sleep as people buy your content over and over again.
Creating memberships- If you sell something that has variety, you may have the perfect situation for a membership. Charging monthly, annual, or lifetime access to products, services, or content might be a great way for you to earn money in an unexpected way. Many of the tasks needed to create a membership only happen once, but they offer unlimited earning potential over and again.
A hobby-based business has obvious ways to earn money but there may be unexpected ways to augment or add to your income potential. Explore additional ways to earn while you keep creating and serving your customers. You may be pleasantly surprised at the opportunities you create and the income that flows from your extra efforts.
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