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