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The whole world is on the verge of economic crisis due to the proliferation of corona pandemic. The safety measure taken by affected countries in the form of lockdown has put a strain on people’s finances. Furthermore, many people have lost their jobs, and there is no source of income left for them. People are figuring out a ways to save as much as money they can. However, in this uncertain situation, many people have discovered or groomed their hobbies and hidden talents. But most of them think that their hobbies are only to spend quality time and nothing more. However, the reality is the opposite. And guess what? You can earn a handsome amount of money by turning your hobbies into a side hustle. 

For instance, take the example of Facebooks’s CEO named Mark Zuckerburg. He developed this social networking website that we know today as ‘Facebook.’ Creating or developing websites was his hobby. Initially, he developed Facebook for his fellow students at Harvard. But eventually, the site got the eyeballs of people, and it got famous. Now we all know that Facebook is a billion-dollar company. All he did is that he transformed his hobby into a side hustle and achieved what he wanted. The point is that everybody can turn their hobby into their side hustle, with dedication and a proper plan.

In this article, we will highlight the essential points that you must consider if you want to know how to make money with your list of hobbies.

Figure Out Your Expertise And skills Related To Your Hobbies

The foremost step is to figure out your hobby and talents. You should make a list of all your hobby and prioritize them according to your proficiency. Then choose the hobby in which you think you are better compared with other hobbies you have.

For instance, if you enjoy writing stories, and if your hobby is writing in general. Then you should try freelance writing. Similarly, if you are proficient in making websites. Then you must offer your services as a web developer.

Conduct Relevant Market and User Research

Conduct Relevant Market and User Research

  1. What is the scope of the service that you provide or the product that you would sell?
  2. Is your service or product in demand?
  3. How would you reach out to your clients or customers?

Decide Your Product Or Service Offerings

Deciding your service or product offerings will help you in making an efficient implementation plan. While deciding offerings, you must look around all the aspects of your service or product. For instance, if you offer your services as a content writer. Then the possibility is there that you can paraphrase or proofread content too.

Make An Implementation Plan

Implementation of your strategy will be your market impression on the client or customer. That is why making an implementation plan is necessary and essential.

Your implementation plan should include:

  1. Reach out to your customers or clients and give them details about your services or product.
  2. If things go in your way, you must provide excellent services or the right quality products.
  3. Give your customers or clients exclusive deals to retain them as permanent stakeholders(customers or clients).
  4. Do not forget to take a feedback as it will help you get more customers in future.

Social Media Marketing is the Key to Success

Making a social media account or website of your product or service is an efficient way of marketing or promoting. By doing this, you will be able to get the attention of your potential customers or clients. It will also be beneficial for your career growth. You can go as basic as marketing your hobbies on a pinterest.

Plan Your Business Strategies To Increase Your Revenue Base

To make an effective business plan to increase revenue, one must consider the following method:

  1. You should develop an exceptional and engaging referral program.
  2. The expansion of your offerings will help in increasing revenue.
  3. You should focus on building a good relationship with your clients or customers.
  4. You should focus on building a good relationship with your clients or customers.
  5. Develop a more substantial customer/client base.

Be Consistent Even If You Fail

Consistency is the key, and nobody gets successful overnight. You might repeatedly fail during the process. But staying consistent, learning by your mistakes, and coming back stronger every time will eventually lead you to your destination.

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  • Avatar
    by Talva Lockhart
    Posted June 13, 2020 5:52 pm 0Likes

    This was a great read!! I tried monetizing a habit a few years back but it didn’t work out but trying again.

  • Avatar
    by Surabhi Kaushik
    Posted June 13, 2020 7:04 pm 0Likes

    Great tips to make money from your hobbies. Thanks for sharing.

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