Updated: Apr 5
So many of my coaching clients come to me with confusion or self-doubt because they are passionate about something but have no idea how to monetize it or incorporate it into their business. And I totally get it. Personally, I love adult coloring books, and I will spend hours coloring during the holidays with fancy fine-tip markers. But at the end of the day, I'm not selling my creations and no one is contacting me to commission a coloring page I created at my kitchen table.
So how do we know if something is a hobby or a business?
Honestly, the best question to ask yourself is "who would benefit from this creation/information/product/service?"
If it's only you... then it's likely a hobby. But if it would help others, it could also be a business.
For example: perhaps you love painting with acrylics, and you are known to create intricate pieces and get lots of engagement when you post your paintings. Because it is a product that could benefit someone else (inspire them, challenge them, help them, etc,) then it can be monetized.
Another example: you are an amazing writer, but most passionate about families with special needs. A blog that focuses on your ideal client could easily be monetized, as long as you can identify solutions to help them. You could also write books or e-books, or even create downloads to help them. Just writing about your own challenges could likely be a hobby, so it's important to know how to switch it to something that can be monetized.
Knowing your purpose and passion is important for knowing how to launch a business or monetize a business. So if you are struggling with what you are called to do, I'd love to invite you to watch the replay of my popular, FREE Masterclass: What am I called to do: Finding what lights you up here.