A couple of days ago, I met a retired school teacher from Kuala Lumpur name Sirongan Sulaiman, 60, who has turned her hobby of hand weaving tapestry into an income generating business.
On average, the mother-of-eight earns between RM 2,000 and RM 4,000 each month.
The money helps her to pay her children’s tuition and college fees, and household expenses and save some for the needs in future.
After talking to her, I realize what we may assume it’s only suitable as a hobby, can actually be a money-making business venture.
So, here are the 3 ways how you can monetize your hobby into business.
1. Find a new skill that piques your interest.
Pick up a skill like baking, wood crafting, dancing or sewing.
This activities gives you extra income and also provides an opportunity to interact and socialize with others too.
It keeps the mind active as well.
2. Do your research to make sure there’s a paying customer for your work.
If you’re selling a service, you may want to start by offering a free trial and generating some word of mouth.
If it’s a product, good product placement and advertising in the right places can lead to a sale.
Social media is especially powerful if you’re trying to reach the masses with minimal resources on hand.
3. Start your business as a side hustle first.
You need to first test the waters while you are still working to make sure you have a viable revenue model for your small business.
You don’t mess around and lose your day job before you are ready to leave to pursue your business full-time.