What benefits are generated by a "Profitable Hobby"?

by Bernard Kelly
(Geelong, Australia)


BIG PROMISE & BENEFITS

For many years now I have been attracted to the concept of profitable hobbies, and finally (!) I have decided to teach what I know, online.

But it's very early days yet - it could take me 12 months before I'm in a position to launch.

At the moment I'm inviting comment on my first attempt at defining the Big Promise and Benefits that my course on Profitable Hobbies offers.

My first attempt is "A Profitable Hobby generates additional income, enhances your mental health and personal growth, and boosts your status as a business owner so that your retirement years will be fulfilling and productive."

How can this be improved?

cheers

Bernard Kelly MBA.
Geelong, Australia

Comments for What benefits are generated by a "Profitable Hobby"?

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Taxes, Insurance, Government Regulations
by: Michael - Upstate NY for the summer!

Bernard,

Make sure you teach the tax aspects, liability insurance, and government regulations that might accompany a "profitable hobby" - aka - small business.

For example, here in the US, you have to pay self-employment taxes if you earn more than $400 in net income from your hobby. And, there are health regulations if you are selling food items. If you resell automobiles, you are considered a dealer if you sell more than a certain number in a year. So, you might want to only resell one or two cars if selling three or more becomes less profitable when you figure in all of the regulations.

It is also helpful to teach the importance of connecting first with others who offer the same type of service that you and your potential students intend to provide. Free, upfront advice can provide to be the most profitable aspect of any new venture.

Michael
If you build it, will they come?
by: John A / Tyler, TX

Building an Internet based business site or something to go along with what you are doing as a hobby will take time and much effort.

Just because you build a website for your hobby doesn’t mean business will automatically come. If you build it doesn’t mean they will come.

It will take tons of work to drive traffic to your site and writing effective original content that is credible.

You’ll need to investigate other online competitors and see what they are doing. Competing against sites with lots of good content and reputation will be a challenge.

So you will need to research keywords to use so search engines can find you and get you into the first page of search results. One, two or three word keyword phrases will be tough to find. Look at long tail keyword phrases. Those things will be your best bet given the huge amount of competition on the Internet. Keep things nichey and zero in on that. The more nichey the better since it limits your competition.

You’ll have to jump into things with both feet and give it time to work. It will probably take a minimum of a year to see results of your work product; most likely longer.

Good luck in your endeavors!!!
Best Website for my purpose
by: Bernard Kelly - Geelong

Thanks for your suggestion to use SBI for my website Wendy - and indeed I have used Ken Evoy's platform in the past (twice actually).

However this time around I gone with at Teach What You Do - a platform developed by Debbie Hodge - specifically for course creators.

Wendy: Oh, you are taking a course class. Good for you! So surprised to see you've used SBI -- and TWICE -- it's a great site!
Profitable Hobby
by: Wendy, Retirement Enthusiast/Coach

I would say: Go Online, it's the best way to share your hobby and earn income!

WHY? Because you can start a hobby site, sell related products on the site (via links, no product buying or sending is necessary), stay safe at home, work in your pj's, and simply earn money from the comfort of your home -- while sharing what you love, your hobby!

This is the Solo Website Builder I use and lots of Retirement Websites are built using the same!

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