The IDEA Publishing
  • HOME
  • Popular IDEAS
    • IDEAS for Your Better Business Life >
      • The Business Idea
      • The Career IDEA
      • The Money Idea
    • IDEAS for Your Better Diversions >
      • The Tech IDEA
      • The Travel IDEA
      • The Auto IDEA
      • The Outdoors IDEA
    • IDEAS for a Better Table >
      • The Food IDEA
      • IDEAS de Cocina Espanola
    • IDEAS for a Better You >
      • The Health IDEA
      • Living Well IDEAS
      • The Fitness IDEA
      • The Beauty IDEA
    • IDEAS for a Happier Home >
      • The Home Idea
      • The Entertaining Idea
      • The Parenting Idea
      • The Senior Living IDEA
      • The Pet IDEA
  • The Video Domain
    • Video IDEAS for Your Better Business Life
  • About
  • Contact
  • ads.txt
The_Career_IDEA
The Career IDEA

The Career IDEA

What You Need to Know to Get to the Next Level of Success!
   

Kill the 9-to-5 by turning your hobby into a thriving business

5/1/2016

Comments

 
turning_your_hobby_into_a_thriving_business
Tips for turning your hobby into a thriving business!

What if rather than a hobby being your escape, it was what you did for a career? Here's how to make that dream a reality.



(BPT) - A beloved hobby can feel like a mini vacation from everyday life. Whether it's gardening for relaxation, photography as a creative outlet or computer coding to exercise the brain, hobbies serve as an escape from stress and boredom.

What if rather than a hobby being your escape, it was what you did for a career?

"When you do what you love, it doesn't feel like work. However, people are intimidated by the idea of transitioning a hobby into this type of dream," says Jim Salmon, vice president of business services at Navy Federal Credit Union. "Becoming a successful entrepreneur doesn't have to be difficult with the right drive and passion."

Navy Federal Business Services has helped thousands of people turn their dreams of owning a small business into reality by providing expert guidance and financial support through Business Services products. Here are some of Salmon's expert tips based on best practices he's observed through his close relationship with entrepreneurial clients:

1. Take your time.

Becoming a successful entrepreneur doesn't mean you have to drop everything and devote all your time to starting a business. In fact, research shows the opposite: People who keep their day jobs while starting companies are a third less likely to fail than those who abandon their full time jobs. Instead, they're tinkering, researching and cautiously testing things out to see if their idea is a viable business venture and if there is a market for their product or service.

2. Set a timeline.

Is there a season where it would make sense to test out your business venture? Or perhaps there's a transitional time in your life where you'll be looking to open a new chapter. For example, transitioning your hobby into a viable business venture a great option for active duty military personnel and veterans because they naturally begin to think about what their second career will be after retiring or leaving the Armed Forces.

3. Decide on time commitment.

Decide how much time you are willing to dedicate to your new venture in the beginning. Being an entrepreneur means being your own boss which affords you unprecedented flexibility, but the effort you put in directly effects what you get out. Keep in mind, entrepreneurship isn't just for full-time professionals. Turning a hobby into a career is a great option for military and stay-at-home parents who require flexibility in regards to working hours and location, but they may have more open time to dedicate to the transition.

4. Create a business plan.

Transitioning a hobby into a profession is a lot of fun, but it's also serious business if you want to be successful. That means creating a business plan that includes goals and plans for attaining them. This will serve as the foundation for how you strategize and build a successful business today. Plus, when it comes time to finance your budding business, a solid business plan will give you a leg up and direction for the future.

5. Find financial backing.

Depending on what type of business you want to pursue, you may need some additional funding beyond what you can afford. Establishing a relationship with a financial institution like Navy Federal Credit Union will help you learn more about small business loans and lending products that will help your small business grow. Bring your passion and your business plan - potential investors and financial institutions alike will want to see both before they make a decision.

KEYWORDS

  • advice×
  • career×
  • commitment×
  • credit×
  • entrepreneur×
  • entrepreneurial×
  • family business×
  • finance×
  • financing×
  • hobbies×
  • hobby×
  • money×
  • personal finances×
  • research×
  • schedule×
  • small business×
  • strategy×
  • timeline×
  • tips×
  • work and family​


RSS Feed

Comments


    Archives

    February 2022
    January 2022
    October 2021
    September 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    January 2019
    July 2018
    June 2018
    April 2018
    February 2018
    December 2017
    September 2017
    July 2017
    June 2017
    May 2017
    April 2017
    February 2017
    December 2016
    November 2016
    October 2016
    September 2016
    July 2016
    June 2016
    May 2016
    April 2016


    Interested in Publishing on The Career IDEA?
    Send your query to the Publisher today!

    Categories

    All
    Accident
    Achievement
    Active Listening
    Activities
    Administration
    Advancement
    Advice
    Airlines
    Ambiance
    Ambition
    Amenities
    Approach
    Architecture
    Atmosphere
    Attitude
    Attraction
    Awareness
    Baby
    Balance
    Benefit Plans
    Benefits
    Biography
    Body Language
    BPT
    Brain
    Brand
    Brandpoint
    Brandpoint Content
    Building
    Business
    Business Plan
    Business Travel
    Busy
    Cafeteria Plans
    Calendar
    Career
    Career Advice
    Career Change
    Career Choices
    Career Goals
    Career Path
    Careers
    Celebrities
    Certification
    Certifications
    Change
    Changes
    Child Care
    Children
    Choices
    Civil Service
    Coffee
    Collaboration
    Collaborative
    College
    College Degree
    Commitment
    Communication
    Communications
    Communities
    Commute
    Commuting
    Compensation
    Competition
    Computer
    Computers
    Confidence
    Congress
    Connections
    Connectivity
    Construction
    Consulting
    Continuous Improvement
    Convenience
    Corporate Culture
    Coworkers
    Creativity
    Credibility
    Credit
    Culture
    Customer Service
    Daycare
    Day Care
    Debt
    Deductible
    Deductions
    Degree
    Demand
    Dental Insurance
    Dentists
    Design
    Designer
    Development
    Discrimination
    Diversity
    Doctor
    Dog
    Dogs
    Donald Trump
    Driving
    Earnings
    Edcuation
    Education
    Email
    Emotions
    Employee
    Employee Benefits
    Employees
    Employer
    Employers
    Engagement
    Entrepreneur
    Entrepreneurial
    Environment
    Executives
    Exercise
    Experience
    Expert
    Experts
    Facilities
    Facility
    Fail
    Failure
    Family
    Family Business
    Family Features
    Family Leave
    Farming
    Fatality
    Federal Government
    Female
    Finance
    Financing
    First Impressions
    Fitness
    Flexibility
    Flexible Savings Accounts
    Flexible Spending Account
    Focus
    Food
    Founder
    Franchise
    Franchising
    Friends
    Friendships
    FSA
    Fulfillment
    Fun
    Gaming
    Gender
    Global
    Goal
    Goals
    Government
    Graduate School
    Graduation
    Gratitude
    Green
    Group
    Groups
    Growth
    Guidance
    Habits
    Hacks
    Happiness
    Health
    Healthcare
    Health Care
    Health Care Administration
    Health Care Costs
    Health Care Jobs
    Health Insurance
    Health Savings Account
    Health Savings Accounts
    Higher Education
    High School
    Hire
    Hiring
    History
    Hobbies
    Hobby
    Hours
    HR
    HRM
    HSA
    Human Resources
    Ideas
    Idol
    Improvement
    Influence
    Infographic
    Injury
    Inspiration
    Inspire
    Insurance
    International
    International Business
    Internship
    Internships
    Interview
    Job
    Job Hunting
    Job Interview
    Jobs
    Job Satisfaction
    Job Search
    Jon Interview
    Kids
    Law Enforcement
    Leader
    Leaders
    Leadership
    Learning
    Leave
    Life
    Life Goals
    Lifehacks
    Life Insurance
    Lifestyle
    LinkedIn
    Listen
    Listening
    Lists
    Living Well
    Loans
    Location
    Logistics
    Management
    Managers
    Managing
    Marketing
    Matenity Leave
    Media
    Medical
    Medical Jobs
    Medium
    Meetings
    Mental
    Mental Health
    Mentor
    Mentoring
    Mentors
    Military
    Mindset
    Mission
    Money
    Money News
    Morale
    Morning
    Mornings
    Mothers
    Motivation
    Motivational
    Multitasking
    Network
    Networking
    News
    Nursing
    Nutrition
    Office
    Office Building
    Offices
    Online
    Online Education
    Open Enrollment
    Open Offices
    Opportunities
    Opportunity
    Oppotunities
    Oral Communications
    Organization
    Organizing
    OSHA
    Outdoor Spaces
    Outlook
    Overtime
    Parenting
    Parents
    Passion
    Pay
    Peers
    Performance
    Perks
    Personal
    Personal Finance
    Personal Finances
    Perspective
    Persuasion
    Pet Friendly
    Pet-friendly
    Pets
    Plan
    Planning
    Policies
    Policy
    Positive
    Positivity
    Potential
    Pregnancy
    Preparation
    Presentation
    President Trump
    Productivity
    Programmers
    Programming
    Project Management
    Promotion
    Promotions
    Psychology
    Public Sector
    Purpose
    Qualifications
    Real Estate
    Recruiting
    Recruitment
    Referent
    Regimen
    Regulation
    Regulations
    Relationships
    Relaxation
    Remote
    Research
    Rest
    Retention
    Risk
    Roadblocks
    Role Model
    Roles
    Routine
    Safety
    Salary
    Sales
    Satisfaction
    Savvy
    Schedule
    Self Improvement
    Self-improvement
    Service
    Service Industry
    Services
    Setbacks
    Setting
    Sex
    Shortage
    Sickness
    Side Hustle
    Skill
    Skills
    Sleep
    Small Business
    Smartphone
    Snacks
    Social
    Social Media
    Software
    Speaking
    Sports
    Sports Business
    Startup
    Status
    Strategic
    Strategy
    Stress
    Stressful
    Succeed
    Success
    Successful
    Supply
    Support
    Survey
    Surveys
    Tactics
    Talent
    Teaching
    Team
    Teams
    Tech
    Technology
    Tests
    Time
    Timeline
    Time Management
    Tips
    Tools
    Trainer
    Training
    Transition
    Transitioning
    Transportation
    Travel
    Truck Driver
    Trucker
    Trucking
    Trump
    University
    Value
    Veterans
    Veterinary
    Video
    Video Games
    Video Meetings
    Virtual Learning
    Vision Insurance
    Vocational School
    Volunteering
    Volunteers
    Wages
    Washington
    Well-being
    Wellness
    WFH
    Wokers
    Woman
    Women
    Work
    Work And Family
    Workers Compensation
    Workforce
    Work From Home
    Working
    Working Mothers
    Working Women
    Work Life Balance
    Work-life Balance
    Workout
    Workplace
    Workspace
    Worth






    Get this content for your website with our RSS Feed below!

    RSS Feed


Powered by Create your own unique website with customizable templates.
  • HOME
  • Popular IDEAS
    • IDEAS for Your Better Business Life >
      • The Business Idea
      • The Career IDEA
      • The Money Idea
    • IDEAS for Your Better Diversions >
      • The Tech IDEA
      • The Travel IDEA
      • The Auto IDEA
      • The Outdoors IDEA
    • IDEAS for a Better Table >
      • The Food IDEA
      • IDEAS de Cocina Espanola
    • IDEAS for a Better You >
      • The Health IDEA
      • Living Well IDEAS
      • The Fitness IDEA
      • The Beauty IDEA
    • IDEAS for a Happier Home >
      • The Home Idea
      • The Entertaining Idea
      • The Parenting Idea
      • The Senior Living IDEA
      • The Pet IDEA
  • The Video Domain
    • Video IDEAS for Your Better Business Life
  • About
  • Contact
  • ads.txt