Income-Positive Hobby

I’ve read this great article about hobby and how to earn more income from it. Well, my favorite parts are these one:

What Do You Need?

There are four key ingredients to an income-positive hobby.

First, you have to enjoy doing whatever it is that you’re doing, so much that you’d do it anyway regardless of any income stream. An income-positive hobby is about the hobby, not about the income-positive. The second the focus switches, you’re running a small business, not a hobby, and the rules and methods for that change drastically. The income generation is something you spend only a fraction of your time on, mostly just as a method of unloading or sharing stuff you’re accumulating.

Second, you have to have some way of generating income from what you do. You have to be producing something that people will pay you for. Of course, that can be any number of things, but people aren’t going to give you money unless they get something of value in return.

Third, you need a method of reaching people who will actually pay you money. How exactly are you going to share these items of value with people who will give you money for them? How will they find out about them? You need some sort of platform or way of advertising what you have to offer, even if it’s just by word of mouth. The internet offers a multitude of options here.

Finally, you can’t sink much money into it. In other words, if you woke up tomorrow and decided you didn’t want to do it any more, you’re not stuck with a large sunk cost or a bunch of inventory you can’t get rid of without taking a big loss on the chin. For example, it’s going to take a long time to turn woodworking into an income-positive hobby. You might recoup some losses, but you’re only turning it income-positive if it’s pretty much a side business.

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And, I do love write. So, this part is cool enough for me:

Writing a Blog

Find a topic you like and write about it. Write articles explaining the basics of the topic, your thoughts on current events in the topic, reviews of products related to the topic, and so on.

Enjoyment If you’re passionate about a certain topic and enjoy writing shorter things, a blog can be perfect for you. I’ve found blogs on certain topics (like board gaming) to be a very enjoyable outlet regardless of whether it earns money or not.

Income generation You can put ads on your blog from services like Google Adsense. You can also add affiliate links for products like those from Amazon Associates, where you receive a small percentage of any sales that go through that link. All of this is pretty effortless and doesn’t affect your writing.

Customer connection The best way is to simply tell your friends about it and also share info about your blog on any messageboards or other sites related to your hobby that you participate on. You can also sometimes attract readers by linking to other sites on your topic. If someone else has a great article, link to it!

Money sink A basic blog costs nothing to start. The only money you might ever sink is to buy a “premium” template or hire someone to make a logo for you, but both of those are optional, especially at first.

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So, read the rest on the origin page. You will like it.😉

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