Hobby or Business? That is the question!!!

I have come across so many women with so many skill sets developed as a child or over the years and yet they assume they are not skilled enough to pursue a career, a business or a life beyond their lovely homes, family and children. Women must work, pursue a hobby, not just for the money but more so for their sense of independent being.

Hobbies are recreational but have you ever thought of converting it into a career or a business? If yes, fantastic, if not, let us think over it and probe the very idea.

Questions to ask:

1. Which skills or talents do I possess? Can it be tangible? More importantly, are people willing to pay for it? For example, can I cook really well? Can I cook for at least -50- people at one go? Is my cooking such that people will pay for it? Can I make candles which can stand apart? Can I make -100- candles in a week? Will people pay Rs.100 per candle for it? Question is- would you also pay for it? Can I write well? Am I comparable with the professional writers or can I sharpen my skills? Can I churn out content each day?

2. Do you have the time, commitment, passion and discipline to engage yourself in your chosen hobby each & every day? Trust me, it seems it is easy to work from home, however, it is not so. At an office, you are physically away from home, family members & kids. You do not entertain sudden guests! Whereas at home, the maid, the kids, the neighbors, sudden guests, Television Serials, phone calls, house chores and errands are constantly seeking your attention. Do you have the self-constraint in you to assign few hours strictly for your work when each family member knows not to disturb your space & time?

(Do not allow this to discourage you! It is a check which you need to make happen! One has to INVEST TIME.)

3. So you have zeroed down on your skill which will now be your business. My next question to you- Where will you showcase your work? Where will you sell? Via Facebook, Whatsapp, Word of Mouth, E-commerce Sites, Retail Shops, Wholesaler, Exhibitions, your own stand-alone store, Networking forums or will you create a mobile application for it? Yes! You need to showcase & sell where your Buyer is present or seeks your products & services.

4. When you fell in love, married, had a child or bought your new Jimmy Choo, did you not flaunt it to the whole wide world? Then why are you so conscious of wearing your skill on your sleeve and flaunting it? Wear it, be it, love it – it is an extension of your identity! Be your own Brand.

5. Are you content being a hobby free-lancer or wish to be a suave businesswoman? The attitude influences your thought process & your approach to your work. Believe me, there is absolutely nothing wrong in being a hobby free-lancer working as per one’s convenience. It is a personal choice and yes what you feel is right, is the right choice.

(I technically work only -4- months a year, and yes, I couldn’t have been happier!)

6. Let’s do some Math! Can you align profitability to your chosen hobby? Yes, you have to make money not just to cover costs but also to reward yourself. A lot of women entrepreneurs forget to take into account the money value of their time, energy, labor and skills into the selling price of the product. Set a standard for yourself.

7. Once you are a business woman, you aren’t just the Creative head. You also are the Office boy, Courier Boy, Receptionist, Sales Team, Purchase Team and the Accountant! So, set yourself up for the challenges and enjoy these new roles of your life! Soft Skills is what will get you through all this. Ability to connect with various people. Essentially, Business is all about Networking with the right resources and delivering work!

8. A lot of women entrepreneurs shared with me that they do not wish to manufacture & sell. Selling & customer relationships is not their forte and it is a time consuming process too. If you too have a similar thought, my question to you then is- Can you TEACH your hobby and make that into a business for yourself? Share your skill sets, train others & enable them to manufacture and sell? Think over it!

9. Now, let us think differently. You love to cook. However, due to constraints of any kind, you do not wish to actually cook & sell. Can you convert your knowledge, ability to network into an Intellectual Property? Can you not create an event around food, associate with stake holders like chefs, nutritionists, vegan followers, food bloggers, food photographers, foodies, eateries etc. who would benefit from such an event, invite participants, execute it each year and create your own brand with it?

(If you decide to do this, we at Itemmom.com expect an invite!)

10. An extremely important question- Do you have the initial funds available to kick start the business? Yes, make an estimation of required funds, consider time lag of receiving payments, keep a buffer for delayed payments & advance payments. Set a target & work towards it.

11. Now the big one- Scan the market for your competition & beat them! Yes, all said and done, if you take up something, be the best you can be, be known for it & demand a price for it and don’t forget to make profits!

So, let’s get started and create a bit of us! Good Luck!