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Should you turn your hobby into a business? …continued from previous edition

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Develop a solid business plan if you want to turn your hobby into a career

This question isn’t always a straightforward one. Although there’s a lot to be said for doing what you love, turning your hobby into a career means a lot of hard work and sacrifice. Here are some questions to ask yourself while you’re deciding:

Do I have the time to dedicate to starting a business?

Going from a hobby to a profession is often going to take some work. As we explore in our open step on making your hobby your job, it takes time, planning, and a fair slice of luck to get your venture off the ground. You need to determine whether or not you can dedicate enough time to starting a business.

Do I have the skills and know-how to make a living?

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If your plan is to transition from pastime to profession, at least some of your income will need to come from your new business. You’ll need to be honest with yourself when assessing your abilities. Will customers pay for your product or service? And are you good enough to bring in a consistent source of income?

Can I balance a job and transitioning to a new career?

Often, a hobby becomes a side-hustle before it becomes a career. However, trying to balance the two can often be tiring. As well as working full-time, you’ll also need to plan your business, find potential clients, and practise your craft.

Am I prepared to lose a pastime?

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Ultimately, turning your hobby into a business means that you might lose your hobby as a pastime. Instead, you’ll have to spend time doing it to make a profit. Although this can still be enjoyable for many, it can take the shine of it.

If you are going to monetise your hobby, you should make sure that you have other pursuits in your life that you do purely for pleasure and relaxation. Sometimes, by turning everything into a side hustle, you can end up burning out.

Tips for turning your hobby into a career

So, if you’re committed to making your pastime a professional endeavour and prepared for all that entails, you might be wondering where to get started. Of course, there are various ways you could go about it, and the below is just one such method:

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  • Start with a business plan

One of the best places to start if you’re trying to convert your hobby into a career is to come up with a solid business plan for your idea. We’ve got a detailed guide on writing a business plan, so we won’t go into too much detail here.

Your plan should give you the vision, structure, and strategy for how you’re going to make your hobby into a money-making venture. It will help you identify the strengths and weaknesses of what you offer, as well as analyse the market you’ll be entering. You can check out our guide on how to start a business for more information.

  • Decide on your structure

One important decision to make fairly early on is what kind of structure your company will take. If you’re planning on being a freelancer and want the flexibility to make choices, you might consider registering as a sole trader. However, if you want to add credibility to your business and minimise your legal liability, a limited company could be a good option.

We’ve written in detail about business structure and registration, so it’s worth familiarising yourself with the various options available when you’re starting a business. And, of course, you can always start as a sole trader and build your way up to a corporate entity as time passes.

  • Start building your brand

If you’re thinking about hobbies that make money, you’ve probably already got an idea of brands that you might aspire to. Thinking about your own branding is, therefore, a crucial step in making the leap to being self-employed.

You can learn more about market analysis and reaching your target customers in our full guide. You can take our course on strategic brand management to find out how to build your brand identity and strategy.

  • Develop an online presence

Digital marketing will likely play a significant role in helping you shape your new business. Being able to access an online audience means you can advertise and sell your product or service.

Whether it’s through techniques such as SEO and Google Ads or creating a strong brand presence on social media sites such as Instagram, there are many ways you can get your name out there. 

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  • Create a marketing strategy

This point really ties together the previous ones. To ensure that you’re making a concerted effort across your branding and marketing activities, creating a marketing strategy is essential.

This article can give you the direction you need when it comes to getting your brand established in your niche. It will outline your approach to advertising and sales, ensuring you spend your money in the right places.

  • Reach new customers

One of the hardest things when transitioning from a hobby to a business is to find people willing to buy into your idea. Of course, branding, marketing and an online presence will all help with this. However, you’ll also need to think about other ways of reaching people.  

Whether it’s networking events, getting involved in local projects, or asking for referrals from your existing customers, there are various ways you can expand your user base and build business relationships. If you’re trying to turn a profitable hobby into a profitable business, you’ll need to reach lots of people.

  • Monitor your progress

When it comes to hobbies that make money and eventually become a business, there’s no defined timeline to work towards. You might start off having your hobby as a side hustle, gradually building towards a fully-fledged business.  Or you might take the plunge all at once. However, keeping tabs on your progress is essential.

As part of your business plan, you’ll set goals for your business. You can then measure your progress towards these aims, analysing what’s working well and what needs improvement. In doing so, you can figure out how you want your business to grow or whether you want it to be just a hobby once again.

Final thoughts

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Profitable hobbies certainly exist, and it’s possible to turn them into something more than a side-project. However, hobbies that make money often require a lot of time and dedication. Turning your hobby into a business involves risk and hard work, but it’s certainly an achievable goal.

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Features

Press freedom & the bearded goat

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journalists covering assignment

THE journalist is a hunter. He goes after human rats and grasscutters personified, matters about whom he can salt and spice and present as news. The fatter and juicier the catch, the better, because sensation is essentially our cup of tea.

Sikaman Palava
Sikaman Palava

Our job is to sell news and sell it in grand style.

Because the journalist is a hunter and is created with a special kind of nose for sniffing out news, he is usually not welcome in many places. He is seen as someone who has been born to make people uncomfortable.

The problem is that some people don’t want things written about them even if it is promotional and favourable. When it entails publishing their pictures alongside the story, they are doubly scared.

“Please, don’t use my picture. People will think I’ve got money and come for loan,” someone told me.

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Anyhow, journalists are seen as intruders, undesirables, born with plenty of okro in the mouth; maybe some also in the nose. Some of my friends are no longer too close because they fear I’d give them full coverage in the Sikaman Palava column. Ha ha ha! What a funny world!

Well, people like my Uncle, Sir Kofi Jogolo, my former classmate and born-mathematician, Kwame Korkorti, and ex-football star cum human-salamander Kofi Kokotako don’t mind featuring in the hilarious inches of this column. Kofi Owuo alias Death By Poverty is one personality who has to be mentioned in this palaver.

These are people who are going to live long, primarily because they see the world as one big ball of fun. When Kwame Korkorti was told that his dear mother was dead at home, he smiled and asked the bearer of the message whether his mother had cooked the afternoon meal before claiming she was dead. Until her death, Korkorti ate his lunch at his mother’s end.

When my Uncle Kofi Jogolo was picked and lost 1,500 dollars and a good amount of Sikaman currency, he didn’t lament the loss. Instead he was amused. In fact, he was almost glad about it, because he grinned from ear to ear, stroked his delicate moustache and congratulated the thief, adding that “He is smarter than I am.” Yeah, Jogolo is the man who employs a Swedish barber to trim his moustache.

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And when Kofi Kokotako was unemployed and was nearly hit by an articulated truck, he called the driver a fool. “The idiot should have killed me,” he said to me. “Didn’t he know I was unemployed and suffering?”

Today, Kokotako is employed as a Reverend and is not doing badly at all. Thanks to the regular silver collection.

And what about Kofi Owuo, the celebrated poor man. His wife left him not because he was poor, but because he swore in front of her that he would never prosper.

The following dawn the wife packed bag and baggage and went back to her parents and told them all about her husband’s alliance with poverty. Her parents were bewildered and called the alliance unholy. They had no option than to send back Owuo’s drinks to end the marriage.

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Kofi Owuo alias Death By Poverty did not contest the issue. He was more engrossed thinking about how to become poorer than to contest what he called a frivolous matter. The wife could go to hell, he said. These are people longevity smiles upon. Nothing worries them.

Getting back to talking about journalists. I’d say that anywhere there is journalism, the issue of press freedom is not too far away. Is the press free? That’s one question foreigners want answer to when they are on visit.

Well, journalists celebrate a yearly WORLD PRESS FREEDOM DAY to drum home the idea of press freedom as a very important thing in the practice of journalism.

This year’s was celebrated almost a fortnight ago but people didn’t see much of us because we are normally not good celebrants. We should have mounted a float to roam the entire capital, dancing asaboni to brass band music just like PTC did recently.

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Although journalists are known to be very good dancers because they walk very much, on that day, they were all busy writing. It was the Minister of Information, Mr Kofi Totobi Quakyi who saved the day by addressing a forum organised to mark the day.

He is a man I’ve always admired since his radical university days. He spoke much on press freedom, cautioning the press not to abuse the freedom granted by the Fourth Republican constitution, but to use it for the progress of society.

Well, press freedom has been defined by many journalists as the freedom to ‘write nonsense’. This definition is not quite accurate. I asked one staff reporter to define press freedom. It took him fifteen minutes to put up something.

“Press freedom is the freedom that is enjoyed by the press that enables journalists to publish or broadcast any kind of material so long as it is absolutely true, is not libelous and slanderous, and is not against the national interest.”

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I gave him eight out of 10, a straight A. I guess every journalist is old enough to know that certain things he or she writes is for or against the national interest. We certainly must guard against writing against the national interest; that is very important.

There is also the question of criticising government. The government can be criticized, so long as the criticisms are genuine and the President and his ministers are not insulted and called names. Let us criticize, but let us do it decently so that the journalistic profession can be revered, and its nobility acknowledged. We are not war mongers, are we?

One area in which journalists are not spoken well of is the complaint that they misquote people. Journalists sometimes misquote people, but in four out of five complaints it turns out that nobody is misquoted after all.

When we interview people they say things unreservedly and we publish unreservedly. When the publication is out and their friends or superiors read it and accuse them of having said too much to the press, then they start claiming they were misquoted.

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We have encountered these ‘misquotation palaver’ every now and then and reporters are usually accused of this transgression. However, when they bring out their note-books or recorders, it is realised that they wrote nothing out of the way. “Book no lie”.

My advice to people who deal with the press is that if they do not want anything written, they shouldn’t say it. What they want to say is OFF-RECORD, then of course, there is no reason to say it. When you say it, you’re taking a risk. In that instance, you can’t also claim to have been misquoted or words put into your mouth.

And it isn’t every journalist who would be circumspect in matters that are supposed to be off-record, because journalists often want to be as sensational as possible to make their stories saleable. So say just what you want to see published and you won’t later regret it and claim you were misquoted.

Well, I’m not holding brief for journalists, because a few of us are notorious for colouring our reports sometimes sand-papering the words so much that they look very bright in front of readers.

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As I once said, when the police tells one such notorious pressman that the thief stole a brown goat, the pressman would want to know whether the goat was bearded. Of course, the police would say ‘Yes’.

However, in the press report, it appears, “A gang of notorious goat-thieves were apprehended in the early hours of yesterday. In the car in which they were riding was a brownish-red goat having a long beard. Upon further examination, it was realised that the goat also had a greyish moustache.”

When the story appears, the police are naturally disturbed. A single thief turns out to be a gang of thieves. The goat also becomes a chameleon and changes colour to brownish-red. And a moustacheless goat overnight wears a greyish moustache whether you like it or not. Luckily the journalist does not add that the moustache was trimmed by a Swedish barber.

Yes, we have a few of such mischief-creating, chronically notorious journalists. But they are one in a hundred. In any case, we make the world. And we shall always do our best to make it a happy place to live in.

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 This article was first publish on Saturday, May, 20, 1995

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Features

Mindset change: The Greater Works factor- Part 2

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When I hear of people who are of the opinion that they cannot make it in life unless they travel abroad, l become sad.  

Whenever I see on TV, news of people, that is migrants who have drowned in the Mediterranean Sea, while attempting to cross to Europe, l become filled with sadness and then anger. 

The underlying factor is desperation born out of loss of hope, in life.  When an individual tends to believe that his only hope of making it in life is to travel abroad, the risk of dying at sea, does not deter him or her. 

The role of some pastors on shaping the mindset of people, especially the youth, leaves much to be desired.  You hear them declaring on various media platforms how they can pray for you to get a visa to travel abroad, instead of encouraging them to find something to do to improve their lives as the Bible teaches that God will bless the work of their hands.

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The GREATER WORKS CONFERENCE is geared towards renewing the minds of people with a specific focus on people of African descent to rid themselves of the negative perception of lack of capacity to excel in life.  

Pastor Mensa Otabil believes that every human being, no matter the skin colour, was created in the exact image of God and therefore has the capacity to do exploits. 

The whiteman was not created in the image of God while the Blackman was created in the image of something other than God.  The Black person therefore can achieve whatever the whiteman can achieve.

 The development in terms of industrialisation that is lacking which has generated unemployment for the youth, is due to lack of effective leadership.  The lack of moral integrity in society, is what is causing the lack of job opportunities, which is as a result of corrupt acts which drive away private investment.

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A culture of inferiority complex exists which needs to be dealt with, so the African can develop the self worth necessary for personal development which can then result in capacity deployment to avhieve personal goals. 

Success in life begins with the individual’s recognition that he or she is capable of achieving the dreams he or she has conceived in his or her mind.  The Bible teaches that the fear of the Lord is the beginning of wisdom, and the knowledge of the holy is understanding according to Proverbs 9:10. 

Christianity was the driving force behind the development of Europe because no society can sustain development without high moral values.  GREATER WORKS therefore is a deliberate project to shape the minds of people, especially the youth, who will become the leaders of our future, to prioritise morality in their daily lives.

This is the only way to see a massive transformation in every aspect of our lives as Ghanaians and Africans in Ghana and the rest of the continent.

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Since the inception of the GREATOR WORKS CONFERENCE, it has made a lot of impact in the lives of many people from the youth up to the senior citizens level.  I recall the testimony of a church member who was motivated and pursued higher education and became one of the youngest Chartered Accountants in this country.  Year after year, the impact of the conference has been enormous and lives in Ghana and across the continent, are being transformed. 

Black people have started regaining their self confidence and the youth have started getting into areas that previously were considered out of bounds.  At a personal level, certain ideas that some years ago, l would have not dreamt about suddenly has become realistic dreams. 

The Christian lifestyle has impacted on my children and those close to me.  Mindset change starts with one individual, then another and then gradually it spreads like a viral infection until a critical mass is attained and them a massive impact.  There is hope for the future.

By Laud Kissi-Mensah

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