Turning Your Hobby Into A Business Opportunity If you're good at something and you enjoy it, why not make it your business? Here are some helpful tips to keep your hobby/business running successfully.
Now that you've moved your hobby into business status, hereare some things to keep in mind as your company builds:
Be resourceful. This is especially important if you don'thave a lot of start-up cash. Look for economical alternatives toget what you need. For example, Key Lime Inc.'s Kenny Burtscouldn't afford to build a commercial kitchen (required byhealth codes), so he worked out a deal to use a friend'sdelicatessen kitchen during that company's off hours.
Keep up with technology. You may think you've bought allyour equipment and now you're on Easy Street. Then six monthslater, your equipment is outdated and your clients are calling fornew services that are all technology-based. From the day you buy apiece of equipment, have a plan in mind for its eventual upgrade orreplacement.
Listen to your customers. With a hobby, you only need to satisfyyourself; with a business, you need to satisfy your customers. Andyour customers will tell you what you need to do to grow.