If you are ready to make money from your hobbies, even if your passion has never previously been linked to money, you can make this happen simply by dedicating a little time to focus on the business side of things to ensure the pastimes we love remain both fun and fulfilling.
It is your choice as to whether this remains a second income stream or can grow into being the main source of income and an entirely new career for yourself. Here are just some hobbies that can be built into a business as successful as you want it to be:
The best video game players can earn millions by winning tournaments but the road to success is hugely competitive and few make it. One way to make money from video game tournaments is to research the teams and individual players and bet on the outcome.
Become an expert on Fortnite, Dota2 or other games before you start. Set up a separate account with the bank or use cryptocurrency or the popular e-wallet that is Paypal to manage your bankroll and winnings.
For more information about how Paypal is such a nifty tool check here. While the research needs time and commitment, you can still have fun with the games and will find your experiences more immersive than ever.
If you are an accomplished musician with a particular instrument look to become a session musician. You could play with several different bands and for singers to create a portfolio for repeat business or new contacts.
Another avenue to consider is to be a music teacher for your instrument, with beginner lessons possible even if your skills are at an intermediate rather than an expert level. You could also record your own songs to sell on your own website or via a host site. Creating beats or samples to be reused by others can also be sold on sites that work in a similar way to stock photo sites.
These are bought by artists who splice the music or remix it to create their own music. Alternatively, start a YouTube channel to vlog about your favourite music, review other musicians, how to choose a particular instrument or whatever your expertise is that will build an audience across social media platforms.
If you are an accomplished photographer, start working directly with clients to take photographs of weddings, graduations or other milestone events. These are unique occasions that people want recording for posterity, so only take on this role if you are certain to deliver the quality expected.
If the idea of working with demanding clients fills you with dread, consider taking quality photographs with an artistic flair and monetize these shots as stock photos or prints. It is possible to grow a large Instagram following for your chosen niche that you want to capture in your photos.
Working as a freelance writer can start by responding to adverts on Craigslist or bidding for work on sites like Fiverr.com. The job could be writing assignments to a specific brief or speechwriting. Proofreading and editing are other options or perhaps you can tutor others in the art of writing in a particular style.
Create your own website where you can blog about your area of expertise, whether it be health, baking, IT, finance, politics etc. Add affiliate deals and as the number of visitors increases, create an income stream from advertising. There are guides online that will help you get started.
Design and illustration
If you are good at logo or website design, consider setting up as a graphic designer. Bid for work on specialist websites and consider starting your own site to introduce yourself, your projects and what you are able to offer. This is a very competitive business but for those with real talent, there is money to be made.
For illustrations, Fiverr is a good place for newer artists wanting work on marketing projects, custom portraits or any variety of artwork. If you want to sell your own artwork, create posters, T-shirts and canvases and sell direct. Grow fast by targeting a specific market whilst you build your brand. Print-on-demand services are a low-risk way to start before considering an investment in your own inventory
Creating and/or Editing Videos
The market for videos continues to grow, with most businesses considering them necessary to promote their products or services. If you have the expertise to create or edit videos to a high standard this can become a good income stream.
Your work could be focused on commercials for business or creating instructional videos. If you are creating videos for yourself, income can be created from adverts once the channel is established. This is a passive but lucrative way of earning extra cash.
To make money from baked goods start with local cake sales as your reputation builds when you can invest in the equipment needed to be able to sell goods to small shops, bed-and-breakfast businesses and at farmers markets. Another option is to share your cooking skills with others online.
Choose a market sector and create food that looks sublime and pushes people to try new tastes. Publish your pictures on Instagram, start a blog dedicated to recipes, a YouTube channel showing your own recipes or reviewing cookery products. You could even launch a food truck business for weddings and other special occasions.
The craft business is now worth billions. Etsy opened up the business of selling handmade crafts since it launched in 2005. Whatever work you create you can sell it, whether it be macramé, tapestries, candles, soap, jewelry, etc.
If you create items that stand out from others look to do some market research to find out what sells and how you can meet the expectations relating to quality and customer service should you be looking to accept commissions for wedding favours, a unique bracelet, etc? Start small to test the market before scaling up to a full-time business with returning customers.
If you enjoy making people laugh at family gatherings or meetups with friends, why not see if you can profit from this innate skill. Comedy clubs are always looking for new talent and by working a night at one of these clubs you can earn money as you hone your skill.
For those for whom stage-fright is a real thing, build an audience online through creating great memes that go viral or videos that top into your niche humor where you can build your audience before you start planning live gigs.
You may want to start out working for free in return for tips until you feel more established or can prove that your gig brings people into the establishment you are working at and that these people stay. For others, you may feel more comfortable as an MC at events.