If you are thinking about starting a home-based business, but you’re not sure where to start, here are the top 3 ways of earning a living while doing something you love
Be honest, are you one of those why would really love to earn a good living doing something you love?
If you are serious about turning your hobby into a business, here’s what many have found to be the top 3 ways of accomplishing just that:
Option 1 — Create products related to your business and sell them at markets and fairs
This is a very popular option, as you will see if you visit one of the thousands of markets and fairs held every week all over the country.
The upside of promoting your products at a market or fair is that if you choose one that’s related to your hobby’s theme or one that includes other people selling similar products you yours, you most likely have a steady stream of interested prospects walking past your booth all day.
The downside is that many markets tend to attract people looking for bargains and price shoppers who will haggle with you and try to beat you down on price.
Not very good if you are trying to maximize the profits you make from your hobby.
Option 2 — Selling products related to your hobby on eBay
Thousands of people all over the world earn regular profits from their hobby by selling related merchandise and how-to information on eBay.
The upside is that you have a global marketplace for your products and eBay has millions of potential customers logging on to their website every day.
Plus, it doesn’t matter how unusual or obscure your products are, there’s bound to be at least a few people interested in buying from you.
The downside is that you have to keep running new auctions, physically ship your products, have customer contact, organize payments, follow up, and generally make sure your business keeps going day in, day out– it’s very hard to automate everything.
This can be a drag after a while, especially when eBay owns all the visitor traffic that comes past your auction. It’s hard to build a real business unless you ‘own’ your customers and prospects, and it can sometimes be difficult to do this using eBay.
Option 3 — Build a web business around your hobby and systemize everything to create an automated profit generator that works around the clock earning you an income.
The upside of this method is that once you build your web business, and depending on the monetization options you choose from the many available, your business can be practically hands-off.
* You can choose to have customer contact or no customer contact
* You can ship physical products (or have other people drop-ship them for you), or only sell downloadable products
* You can earn money simply by people clicking on ads on the pages of your website
* You can make your web business as small or as large as you like
The downside of promoting products related to your hobby on the Internet through a web business is that most websites don’t manage to attract enough visitors to make a go of it.
There’s nothing more heartbreaking for a web business owner than spending the time and money building a business online and then never seeing enough visitors to make it pay.
However, there are keys to attracting large numbers of visitors to your web business and then consistently selling your products or services to them.
Here are the top 4:
* Use a proven system to optimize your pages so that they can be easily found in the search engines
* Use Press Releases to generate short term bursts of interest in new content you’ve created
* Use Articles to generate long term residual traffic to your website
* Build a client list of dedicated followers through an e-zine, mini-courses, or an online newsletter
I hope these tips help you to decide which method of turning your hobby into a business is the right one for you.
It is certainly possible to turn something you love into a profitable business; all you need is the right vehicle. The problem for most people is that they don’t know where to start.
You need a proven system, useful examples, and a mentor to show you the ropes. Find these, and your chances of success are greatly improved.
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