In this article that originally appeared in Mama Disrupt, Michelle outlines how you can turn your hobby into a profitable side job.
BE REALISTIC
Not all hobbies are potential sources of income, so assess if there is a market as early as possible. Talk to people and test your concept – are they willing to part with money for your product or service?
GET PRACTICAL
Set yourself clear milestones around what you want to achieve, and by when. This includes considering how much money you are willing to invest, whether you need to save or can access ‘seed capital’ through a startup loan or grant.
BEWARE OF OVERLOAD
If you’re planning to hold down a full-time job whilst side-hustling, consider how long you can sustain a ‘dual track’ approach. At what point might you consider quitting your day job?
DON’T USE WHAT ISN’T YOURS Ensure all work that relates to your gig is done using your own equipment and technology. Also, read your employment contract carefully. It may include an intellectual property clause, which means anything you create while working for a company belongs to them.
‘FESS UP IF A CONFLICT
Whether or not you tell your boss depends on the type of relationship you have. If there’s any potential for a conflict of interest — even in a small way — then be very respectful and open. Hopefully, they’re excited for your new avenue.