Well-recognized brands like Harley-Davidson, Spanx, and Craigslist began as passion projects. The U.S. Chamber of Commerce offers a few tips for turning a hobby into a viable small business:
- Test your product on small audiences. From friends and family to farmers’ markets, many groups could provide feedback.
- Research your competition. Figure out what sets your nascent business apart.
- Write a business plan and assess your level of commitment; starting part-time may be a good approach.
- Establish your brand.
- Pace yourself. A hobby or keen interest doesn’t become a Fortune 500 company overnight.
See the U.S. Chamber of Commerce’s recommendations for more detail.