subject: Passion, Hobbies & Pastimes To Grow Your Income [print this page] The pastimes you have passion for doing are a glowing source of expression and gratification in your life. They can also be transformed into a method to grow your income. The pastimes we're talking about here include your hobbies, athletics, meeting new people, architecture, reading, cinema, storytelling, taking trips, decorating your house, mountain bikes, tractor pulls, or any other topic that you get excited about and spend time doing.
The passions that make you happy are a great base to start a new business. Most startups fall apart in the first 6 months, primarily because the owners spend a lot of investment dollars getting it operating and don't plan properly for the time required to attract clients, get profitable, and grow. When you launch a personal business with your own free time, from activities you already are passionate about and acquaintances you already have in hand, there is no necessity to invest a lot of dollars in the risky startup period. In fact, most hobby oriented businesses will often expand your net income quickly and smoothly from the first month.
The best space to start your new business to grow your income is in your house. You should never go out and rent a store front in anticipation of clients streaming in. Focus on getting word of mouth PR using no-cost and really cheap advertising (Craigslist, local ads, and tacking posters and calling cards to bulletin boards is a great start). You can also launch a free blog and make that your Internet site until your revenues justify more advertising.
A similar approach is to startup 1-3 small but related ventures in sequence. For example, if you start a hair grooming business, you can also release a mailing list on hair dressing, or even release a hair cutting handbook on a major retailer site. If you start a old furniture restoration business in your garage, you can also become a specialty paint dealer and operate it from the same space. Once one business is profitable and you have sufficient paying customers coming in, start another diversified but connected business and repeat the process. If you know how to do it, you can launch a hobby-based business out of your home in less than a week! afterwards, you can invest further in the businesses that succeed and eliminate the ones that do worse than expected, then do all the formal things like incorporating, filing business tax returns, etc. as or when it's safe to do.
The rationale is simple: tap into your passions, form a business doing something you already have passion for, keep operating investments low, and enjoy the bounties!
