If you read a little about me, you’ll know that I started financial coaching after doing it as a hobby for almost 5 years. I never considered myself an entrepreneur, but in order to do what I love every day, becoming a business owner was my only option.
Written by the talented Maryalene LaPonsie, you can read more about my journey while gaining tips, tricks, and strategies for making the transition from hobby to profession as smooth as possible.
Here is an excerpt from the article:
Dickey recommends taking the following steps before trying to turn your hobby into a business or second career:
- Before quitting your current job, try living on a lean budget that resembles the income you could reasonably expect to earn from your hobby.
- Take some vacation time and use it for a trial run of your new endeavor. This will help you determine if you can stick to a schedule and enjoy your hobby enough to do it full-time.
- For those who will be self-employed, practice stating your prices confidently. Dickey says many people, particularly women, are quick to offer discounts or otherwise backpedal on their stated prices.
- Get organized and set goals before leaving your current job.
- Tell family, friends and former colleagues about your plans and ask for referrals.
Both Dickey and Tremonto moonlighted for years before taking the plunge into business full-time. “You often hear the first five years of business are the hardest,” Dickey says. “Try to do as many of those years as possible with some stability from a full-time job.”
Read the full article on Yahoo! Finance.