Most of us dream of having a full-time occupation that not only keeps our finances healthy, but also indulges our creative tendencies too. And many lucky entrepreneurs have managed to turn their pastimes into lucrative occupations in a way that shows just what can be achieved if we really apply ourselves to a particular project.
There are many different ways that tax authorities judge what qualifies as a business rather than a hobby, and it’s largely thanks to a wave of online technologies that many of us have found ways to make our hobbies pay.
Whether it’s someone’s fascination with makeup helping them become a leading beauty vlogger on YouTube, or a video gamer who managed to pick up a few extra pennies by streaming their gaming adventures on Twitch, it’s the way that our activities can be performed to an audience of millions that’s helped the latest wave of entrepreneurial activity.
Much of this revenue tends to come from advertising. Blogging platforms like Blogspot and WordPress make it relatively easy to implement Google’s Adsense program so that you can monetize your content.
Obviously in order to make this work, the content has to be useful to the web populace; this could be anything from an in-depth technical tutorial to something like a quick and easy Internet blackjack guide — but it has to be something that’s unique in order to stand out from the online competition.
Even if you’re not comfortable in writing your thoughts in a blog, the incredible incomes earned by some of the most successful beauty vloggers show that it’s all about delivering useful content in a way that engages the audience — that is how you really turn a hobby into an actual occupation!
Those who have a skill in making homemade craft objects have found that online marketplace, Etsy, also offers an easy way to reach an audience of millions. Thanks to the growing trend of ‘the side-hustle,’ it’s now apparent that a hobby can not only deliver some pocket money, but can also become a dependable source of income.
The bottom line is this: Whether it’s a bedroom musician using the Bandcamp platform to get their music heard across the world, or a freelance writer who’s using the Upwork website to source potential new clients, there are now more ways than ever to make money thanks to the online revolution.
Photo Credit: Amber Rae
I’m blogging about personal finance as a hobby, but hopefully it will turn into a business one day.
You’ll find the key — aside from creating content people enjoy — is persistence, Ms. Frugal. Good luck to you!
Whenever yo think you can justify a business loss to reduce other income?