Is it a hobby or a business? 6 questions to ask yourself!

I can’t be the only one who is a serial entrepreneur right? As a creative person, I naturally am drawn to so many different hobbies and outlets and always think to myself “How could I start making this into a business?” I think so many people can relate to that! With TikTok, Instagram, and Pinterest we see so many different types of creative outlets that we think would be so fun to have as businesses. You might be dreaming of being a photographer, opening up a boutique, or starting a jewelry business! I’m all for harnessing your creativity into a business and think there is space for so many to do just that. 

However, I also think it’s important to hold off on the daydream (just for a moment I promise!) and think realistically about whether you should start a business or enjoy something as a hobby. Because what we typically don’t see on TikTok or behind the curated images on Pinterest is the work, money, and navigation that goes into the business side of all things creative! Which is why I wanted to bring you 6 questions to ask yourself when deciding if you should focus on building a business or enjoying a hobby. This can truly apply to anything that is creative or that you enjoy doing!

1. Am I ready to financially invest in this? 

For any sort of hobby or business you are going to have some sort of financial investment. With a hobby, it’s certainly going to be less! With any legitimate business you are going to need to invest in insurance, business permits, and different types of programs including sales software and website hosting. You will probably hire an accountant or CPA at some point, will need to invest in professional gear or supplies, and marketing! With a hobby, it’s going to be a much smaller investment up front. You will just need the supplies or gear to accomplish the task and then can enjoy it without the business financials that come with it. Again, it’s totally doable to create a business, but you need to question if you want to invest in the larger financials that come with it!

2. Am I ready to give my time to this? 

With a hobby, you can enjoy it when you have time for it. With a business you have to work on it, even when you may not have time or want to be working on it. That’s a big difference! With a business you need to have time to respond to customers or clients, post on social media, and do the task at hand, whether that’s editing photos, pricing merchandise, or creating a product to sell. You will need to think about whether or not you have time to dedicate to your business and if you’re willing to work on your business even when you may not want to or would rather be relaxing. It’s okay to say no, you’d rather just edit photos when you have time or craft when you feel like it! 

3. Am I ready to have outside feedback? 

Any sort of business owner will have to handle feedback, complaints, and reviews at one point or another. Is that something you’re ready to handle? With a hobby you really have no one to answer to but yourself! With a business you are working to create a happy clientele and with that, you’ll eventually run into bumps along the way. I’m confident that you can work through each issue you may run into, but it’s up to you to decide if you’re ready to handle that. 

4. Am I ready for the learning curve?

With any new skill there is going to be a learning curve! When you’re learning a new skill as a hobby, you have no one looking at your learning curve except yourself. With a business, you’re putting your craft or skill out there for others and will be having a public learning curve. Maybe not so much public, but not as private as a hobby. For example, any business owner will tell you about mistakes they made when starting out their business that they would never make now. It may have involved a customer or a deadline, but typically it involves someone else and their final product or service. It’s something that is like a rite of passage for any business owner but you will want to think about that as well! 

5. Am I willing to keep pushing?

As a business owner, there are ultimately going to be times where you may not feel like pushing through. Maybe you’re having a rough month personally or you’re tired or you aren’t feeling like you’re having as much fun as you’d like. While that can be a whole other blog post, there are going to be times with your business that you just want to shut off your phone or computer and not work. While I always encourage time to fill up your creative cup I’m talking about the bigger picture here. With a hobby, if you don’t feel like doing something, you don’t have to! With a business, if you have a scheduled session with a client, you need to show up. If you own a store, you have to open up to make money. It’s not as easy to shut off with a business, so it’s important to ask yourself if you’re ready to push through that. 

6. Are you ready to never stop learning? 

With any business you are going to want to push yourself to be better and better not only for yourself but for your clients as well. Whether you want to sharpen up a skill, learn how to market yourself better, or grow as a business, there is always some sort of learning to be done! You’ll want to be open to attending workshops or taking courses to continue with your education!

I think that it’s an amazing thing to blend your passion into a business and I fully support anyone who wants to do so! You should also feel prepared for taking the leap from hobby to business and know that it’s ok if you decide you would rather just enjoy a hobby. I also am here to connect with and answer any questions that I can about taking the dive into starting a business! 

-Liz