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Should You Turn Your Passion Into A Business?

Following your dreams and turning your passions or hobbies into a business is an alluring proposition. There’s no reason to say you can’t turn that hobby into a profitable business, but before you make the leap, there’s some thinking you need to do. 

Instead of giving you an absolute yes or no to this burning question, I’m going to examine the pros and cons. I’ll help you make an informed decision based on what’s right for you, and not what’s best for someone else, because ultimately only you can decide if it’s a good idea or not.

The pros of turning your passion into a business:

1. You get to make money from your passion
There’s nothing more exciting than turning a profit on something you’ve created with love and passion and having someone else value your work as much as you do.

2. You get to do something you care about and enjoy every day
We spend the majority of our waking hours working. How fantastic would it be to be spending that time on something you care about and enjoy spending time on? Getting to do what you love every day is a privilege and if you can make it work, is the ultimate goal of many people.

3. You can work from home
Many passion businesses lend themselves to home working. So if you’re currently commuting or working in an environment you don’t like, or want the freedom to make money from home, starting a passion business may well give you that location independence.

4. You’ll likely have a lot more flexibility
When you work for yourself you get to choose the schedule, giving you a lot more flexibility to do work when and where you want to, and take time out for other things without booking time off.

5. You get to live to work, not work to live
Passion-based business owners often describe a sense of fulfilment and feeling of not really working because they’re doing something that is deeply meaningful to them. If you want to live to work with passion instead of working for time off, a passion business may well be for you

The law of work seems unfair, but nothing can change it; the more enjoyment you get out of your work, the more money you will make.

Mark Twain Author

The cons of turning your passion into a business

1. It might not be profitable
Whilst you’re passionate about your business, or the thing you want to turn into a business, it might not be something people are prepared to spend money on. And a business is only a business if it’s making money. You’ll need to do research to work out whether your business startup idea is viable. 

2. You might lose the enjoyment of your passion
I’ve had a few friends who’ve set up businesses based on their passion or hobby who’ve ultimately fallen out of love with it because it’s become something that has to make them money and not something they do for pleasure. The pressure of having ‘your thing’ earn you a living can quickly lead to losing enjoyment in it, and the reason it’s a passion in the first place is because it’s an escape from those responsibilities.

3. You won’t only be doing the thing you love
Whilst you will get time to work on that thing you care about, you’ll also be spending a lot of time marketing, doing admin, taxes and other day-to-day business tasks. This can come as a surprise to new business owners, who get frustrated by how little they’re actually doing the thing they love.

4. You might struggle with work-life balance
Working on your passion is fulfilling and you get to choose your schedule but because you care so deeply about the work you’re doing, you may end up overworking and losing sight of a work-life balance. This is important for your health and wellbeing and is vital if you want to run a sustainable business.

5. Passions change
What lights you up right now might not light you up in 1, 2 or 5 years time. Passions, hobbies and interests change over our lifetime and you might find that what you’re excited about right now, you’re not in the future. What will you do if the passion business you start no longer interests you?

Sometimes you just have to try it to see if it’s right for you and if you’re thinking of turning your hobby or passion into a business then my best advice for you is to start small and see where it takes you. Many people set up a side-business in their spare time to test the waters, and this can be a great way of discovering whether your passion business gives you more pros than cons or vice versa.

Ultimately, trust your gut. If you believe in your passion, have a burning desire to start a business based around it, and the cons outlined here don’t phase you, then go for it! If you’re having second thoughts, then rest assured it’s ok to keep your passion as a passion and something you enjoy on the side. To learn more on how to apply for a small business grant read our guide for more information.

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