Moms, Turn Your Hobby into a Business

Is it possible to turn a hobby, something you enjoy doing, into a profitable business? If it is something you are thinking about then there are a few things you need to do to determine if you can be successful.

Research:

Do Internet searches for your product idea. Visit the websites and see what is already being offered. How does it compare to your product? You will want to be able to offer something better, or at least comparable for a similar or better price.

List your product features and the benefits they have for your potential customers. Why should they buy from you rather than the competition? This list will later help you structure your sales page and determine your pricing structure.

Make a plan:

A written plan, a business plan, will help guide you and outline all the steps you will need to put into place in order to succeed. Many home business start up without the benefit of a formal business plan, but taking a little time to write one up will great increase your chances of success. You business plan will outline each step necessary to start and run your business.

Some of the things to include in your plan are details, such as:

What exactly you will sell, different versions of your product, pricing, shipping rates, how will you handle the shipping, return policy, etc…

A website plan, hosting company, costs, will you write the content or hire someone, who? A marketing plan, what marketing tactics will you implement, how, when. What do they cost?

Determine a timeframe for each step in the process. Determine your goals, being realistic. Determine when you will work and how it fits into your family schedule.

Yes, a hobby can be turned into a profitable business, but it takes some serious planning and hard work. Be realistic about the goals you set for yourself and your business and stay motivated and positive about your business. Be proud to tell everyone about how you turned a fun hobby into a profitable business.

Article Source: http://www.wahm-articles.com

Barbara Ryan is publisher and co-editor of Mom2Mom Magazine , an online magazine written by moms, for moms. Barbara is also owner and designer of Cherish Collages, a custom Photo Collage Design business developed from the love of a digital photography hobby.

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