/ / 6 Helpful Tips On How To Turn A Hobby Into A Business

6 Helpful Tips On How To Turn A Hobby Into A Business

Turn A Hobby Into Business

Introduction

Any hobby can be turned into a profitable business for extra cash. In this report, you will learn how to take your favorite hobby, and turn it into a source of passive income. This report will discuss why you would want to create a business around your hobby and the benefits of doing so, ways to create products around your hobby, and how to promote these products. Hopefully, by the end of this report, you will be equipped with all you need to start profiting from your favorite pastime.

WHY TURN A HOBBY INTO A BUSINESS?

Doing something you love for a living

The average person usually works at a job they can’t stand. A hobby is something you would be doing regardless of the income you receive from it. Matter of fact, a lot of times, people spend considerable sums of money on their hobbies. Being able to turn something you love to do into a profitable source of income is something that we all strive for.

Financial Independence

Financial freedom is a long shot from a regular nine to five job.

In order for someone to be financially free, they have to take control and find ways of generating passive income. The best way to do this is to start your own business. the alternatives mainly consist of investing large sums of money on stocks, mutual funds, and other investment vehicles where you’re not in control.

It doesn’t take much money to start

A profitable home business can be started for a few dollars. The bulk of the costs come from advertising and product development, but after reading this report you should be able to do this on the lowest of budgets.

HOW TO GET PRODUCT IDEAS

Creating a product around your hobby is not as hard as it may seem at first. For instance, if you like cooking, you can start a recipe newsletter for other cooking enthusiasts and publish a booklet selling your recipes. You can sell home-made crafts through the mail. If you like working on cars, you can start advertising your services locally. For computer programmers, you could write a program and sell it. I could go on forever….

If you notice the majority of the products I mentioned above are information products. That is because Information products are easier to sell through the mail, and they’re cheaper to produce and deliver than conventional products. Consider the difference between having to develop and ship a booklet over a pair of shoes, speakers, clothing, or any other product. You can have your local print shop any booklet or pamphlet or manual for a reasonable price, but to develop the other products… well you get the picture.

No matter what hobby you’re into, you develop some skill or knowledge that someone somewhere would find useful and usually pay for. you could sell those through direct mail or online. these could be anything from books, manuals, books, CD’s, Tapes, and any other medium for conveying information.

You can also publish your own newsletter. by providing information to people in your topic of interest, you can build a substantial mailing list. You can then sell advertising space or related products through your newsletter. Next, we will discuss exactly how we do this.

Find Your Market First

If you are able to communicate an idea to another person, Then there should be no problem in putting that message on a piece of paper.  If you have an area of expertise or enough interest to gather the information needed, that’s all it takes to create information products and profit from them.

There are many publications filled with ads from people just like yourself, who learned how to make money writing and publishing their own work.  That’s why going through opportunity publications and magazines in your field of interest is a good way to start looking for ideas.

Check out all the ads in the publications you chose to see the popular topics written about in books, manuals, reports, and newsletters.  If you feel you can come up with something better or similar with a new twist or flavor to it, then you can enter that market and start making money.

BE CREATIVE

Try to be creative when developing new material.  Maybe you know something that can help people in your field get things done faster or more efficiently.  Maybe you can come up with new innovative ways of cashing in on a current fad. The point is, people, are looking for and willing to pay for information, and you can capitalize on that demand by self-publishing your own products.

Normally, people look for information that can teach them ways to improve their lives:

  1. Financially
  2. Physically
  3. Emotionally

PACKAGING YOUR PRODUCTS FOR SUCCESS

the next step after writing your material is to decide on how best to package your information and make is salable.  that will depend a lot upon your market and target audience.  here are popular ways of packaging information:

  • Books
  • Series of publications (training course)
  • Manuals
  • Reports
  • Newsletters
  • DVD
  • CDs
  • Seminar Presentations

One thing I know for a fact is that people are spending billions of dollars on well-packaged information.  Some books sell up to $100 or more, with manuals right behind them.  People are writing and selling 10-12 page reports for $10 or more. Others are running seminars that cost up to $10,000 for a weekend.

It may sound outrageous, but people are spending major dollars on information, As long as the packaging is perceived as being worth what you’re asking for it. In order to select the best packaging for your information, you have to consider your market and try to cater to it no matter what you do.

Write And Publish Your Own Info Products

To become a self-publisher means to skip or by-pass all the middlemen and printing and distributing your own products.  As a self-publisher, you invest your own time, money, energy, and talent, but you remain in control of all your products and all your profits too!

WHY SELF-PUBLISHING?

Some really good reasons to self-publish:

  1. Well first, self-publishing might be your only way of getting published. Publishers are constantly receiving thousands of manuscripts, and they might never get a chance to look at yours.  Self-publishing could well be the only way to get your products and ideas out.
  2. Why accept the little royalties offered by publishers, when you could do it yourself and keep all the profits from your sales?
  3. You have complete control over the marketing and editing. According to the writer’s digest, 60% of publishing firms do the final editing,  23% select the final title, 20% will not consult the author on a cover design, and 37% do not involve the authors in the promotion of the material.  self-publishing sounding better about now?
  4. With self-publishing, you can be up and running in as little as a matter of a day. With major publishing companies, it would take an average of 18  months before the first copy is released. That’s a lot of wasted time.
  5. When self-publishing, you will be directly involved in marketing and you’ll get a better business and marketing picture from a publisher’s point of view.
  6. O yeah, self-publishers get better business tax advantages.

There is a lot of money to be made by writing and publishing your own material. There are literally millions of people across the globe that will gladly pay for manuals, books, and reports that have the information they need.

As we all know, this is the information age. There is a constant demand for valuable information-packed books, manuals, reports, and newsletters of any kind.

There are tons of people making large sums of money from the information they possess, and you can too.  It’s not as hard as you would think to create information products and market them for a profit.  All you have to do is put your own specialized information in books, reports, or newsletters, and you can start selling information that you have been giving away. But before that, you have to find out what will sell in your field.

SELF-INTEREST, EMOTIONS, And DESIRE

Arousing the emotions and desires of your audience plays a major role in your success.  If you expect to survive in business, any business, you must learn to arouse the customers’ emotions and desires.  No matter what information product you are promoting, It has to appear jam-packed with self-interest benefits.

New business ventures waste millions of dollars yearly because they couldn’t understand that what they say and what the customer wants to hear are two different things.  But you, on the other hand, will make a fortune if you can understand this and use it to your advantage. 

Emotions are what drive people to buy anything.  That being said, moving the prospect to buy should be the sole purpose of your product and advertisement. You don’t just have to stir up enough emotions to cause desire, but enough to cause the rationalization to provide an excuse based on logic.

No customer will ever admit that they bought something because of emotions. Actually, logic probably had a small part to play in the purchase.  The reason is that a lot of times people’s actions are caused by instincts and impulses that most customers are unaware of.

When writing, always try to understand how your product might appeal emotionally to readers by focusing on your own feelings.  Always think of how a benefit will arouse a reader’s emotions and desires.

HOW AND WHERE TO ADVERTISE?

The key to your success in any business depends on the advertising, especially where and how you do it.  Advertising is the only way to get your product or service out to the public.  You have to know how to effectively advertise or your ideas and efforts will be wasted.

A lot of people spend their entire lives working on a product or a special service (writing a book), only to end up penniless and heartbroken.  It seems like everybody has an idea for a how-to manual of some sort.  It all just comes down to whether you want to just end up another author/inventor/hard-worker or you want to sell your own products and enjoy all the benefits.

It is important to do some basic market research and product analysis before you actually start devoting your resources (time, money, talent) to the project.  This will save you a lot of time and frustration.

One good way of doing this is to create a checklist of questions that must be answered before you undertake any project. Here is an example of a checklist I would use:

  • who will buy my product?
  • Is my product really needed or wanted (is there demand)?
  • How large is the market?
  • How will I reach these people and convince them to buy?
  • Is anyone else selling something similar?
  • What makes my product stand out from the rest?
  • Can I sell the product and make a profit?
  • How much time, effort, and money will have to be put into this project to reach profit goals?
  • Do I have the resources and drive to carry this project through to completion?

Once you have completed your basic market research and answered all these questions, then you can start formulating a marketing strategy.  Your work will be a lot easier if you have objectively answered the checklist questions.  Ignoring this process is almost a sure way to fail in business.  Without it, there is no direction or targeting of our market.  You could wind up losing a lot of money advertising to the wrong people or advertising a product with no demand.

The important thing to remember is to design your advertisements to appeal to your target audience.

ADVERTISING MEDIUMS

Classified Ads

Let’s say my hobby is gardening.  Assuming we’ve already done our market research and I decided to write a manual on uhh…  how to make money at home growing small plants. I would then find a few publications targeted specifically toward gardeners, and put simple classified ads such as ” Send $5 for our report on How To Make Money At Home Working With Small Plants.”  this might seem overly simple, but this works because your message is only reaching a special audience that already has an interest in what you’re selling. It’s straight to the point.

Direct Mail

Another effective method of reaching targeted customers is to buy a targeted mailing list and start sending ads directly to their mailbox.  It’s not recommended to start with this, but if you’re successful, eventually you’ll expand into it.  When you do, make sure you select mailing lists that are targeted towards your type of customers. Get a mailing list of do-it-yourselfers if you’re selling shop tools, cosmetics buyers for jewelry and self-adornment merchandise, and how-to-book buyers for your crafts, hobbies & self-improvement books.

The point is that if you know what kinds of customers are buying what you’re selling, its just a matter of selecting the right publications to put your offer in their face. Cooking magazines for recipes; mechanical opportunities in the mechanic’s magazines; self-improvement books and merchandise in general merchandise catalogs; and income opportunities in the business building self-help magazines such as Money Making Magic!

Another important thing is that you match your selling prices within the average price range of everything else offered in that publication.  Running an ad to sell a book at $50 in a publication that features $10 books, probably won’t do too much for you.  By the same token, any ads attempting to promote “reproduction type” reports in a magazine selling $50 books, probably won’t bring very many responses for you either.

all in all, profile your target audience, design ads that appeal to their self-interests, move them emotionally to buy your product by arousing their desire.

Advertising

The salability of your book, report, manual, or newsletter will have a major impact on the success of your advertising. Good advertising will make a good book sell better, but it can’t make a poor book successful. Advertising is vital to the success of your self-publishing venture, and here are a few reasons why:

  1. It gives businesses a means to deliver their message repeatedly to reinforce it in the minds of targeted customers.
  2. It allows a business to reach hundreds of thousands of customers at a low cost.
  3. It allows businesses to target their market and test their products.
  4. It gives businesses the ability to establish a business identity quickly.
  5. A forum for showing a product, together with benefits and advantages can be established.

Effective Marketing is a very large field.  The approaches you take and the methods you use are only limited by your imagination. Some marketing tools include:

  • Direct mail
  • Space and classified ads
  • Signs
  • Radio
  • TV commercials
  • Business involvement
  • and more…

BASIC ADVERTISING RULES

There are various ways to market a product and advertise for it, but there are tried and tested methods that have worked for other marketers.  The basic rules pretty much stay the same regardless of the field or product.

  1. get a prospect’s attention – The headline is the most important part of an ad.
  2. create reader’s interest -Your ad should be based on an idea that offers value.
  3. Arouse the reader’s desire – Do this by focusing on all the benefits they will receive.
  4. Your ads must move prospects to act – Tell them exactly what it is you want them to do.

To avoid making careless advertising mistakes that could cost you money, it’s important to develop and understand your own strategies.  Yeah, I said it. You have to do some research as to what strategy will be the most profitable for your venture.

Planning is the most important step of the process and its important that you have a plan before you take action.  You have to come up with a plan that fits your needs through careful research and analysis.

Focus On Salable Material

You can find information about your topic in several places.  It is typically best to start with an area where you have some knowledge, and turning it into a book, report, manual, or newsletter.  Try to keep the information you provide your audience with simple, understandable, and helpful. As long as the information is helpful, people are willing to spend their money on different forms of information. 

Your whole purpose in this business is to find your audience’s needs (or create it), and fulfill them.

A technique that helps to get started is to jot down every subject that you know something about in no particular order.  Do it until you run out of ideas and stop, you don’t want to force it.  when you’re pretty sure you covered the majority of the areas that you know, start picking the ones that peak your interest.  Now its time to research more material for your writing projects.

MARKET YOUR PRODUCTS & SERVICES

Now we come to the crucial point of your whole business career.  Marketing your products include advertising and all promotions for that product.  This section will cover ways and techniques for advertising, especially where and how.  We will also discuss how to write ads that will get orders.

ADS & STRATEGY

Your product has to be original.  It has to be different and better than the other products, especially when you have other mail order dealers advertising similar products.

Try to write your ads from a different angle.  The first and most important question your ad should answer is “What will I get if I send in my money?” Paint the picture of happiness, success, and wealth in the mind of your prospects.  Alleviate the fear of being ripped off by putting yourself in your customer’s position and giving her good reasons to send you her money.

Try not to focus on selling your product from the ad. consider this ad “Free info on how to make money with your garden! Send a self-addressed envelope to receive more information.

When people respond to your ads, you can then send a sales letter, brochure, order form, and Self-addressed return reply envelope with the booklet. Some people have achieved 60 to 70 percent sales with this technique.

Another way to get orders is to offer a free book or something that will hold their interest as an incentive for them to send in for more information.  Then you can hook‘em any way you like.

A small, inexpensive classified ad offering a “most wanted” leader item, followed up with a dynamic sales letter…  and your success is virtually guaranteed!  As a means to an end, particularly if you’re wanting to enlist people to sell your product for you.

You can also start an ad sheet – run exchange ads with every ad sheet publisher in the country – there are literally thousands of them.  But, instead of running ads to promote your ad sheet, run your “leader item” offer and follow up with your sales letter on your primary product.  From this, you’ll get fantastic FREE exposure; inquiries from people you can actually sell to; and the virtual “no-cost” establishment of a nationwide sales force to promote your business.

You can’t do it all by yourself.  You have to get other people to help you and present your product offer to as many potential customers as possible. And so long as you’re working from a limited budget, there’s no way on this green earth you can afford the kind of advertising costs necessary for overnight success!

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