Should You Turn You Passion into a Business?

Before we can talk about how to transform your passion into a money-making business, it is important to explore whether it is really something that you should do.

I have started many businesses over the years. Some were successful and served their purpose to generate income for me and my family, and others never quite made it to an official launch. Typically when I would decide on the next venture that I want to pursue, I follow my passion and excitement. And this intuition can be a really great compass for deciding on any path you want to embark on in life, but when it comes to business, passion can make things a little messy.

Here are some things to consider if you’re feeling like you’re ready to take that leap toward turning a hobby that you love into a regular income stream.

How will you spend your free time?

Being a business owner means that you have very little “free” time where you are not focused on business. This means that when you do have time to relax you’ll want to spend time doing something you really enjoy. Mental health is an important factor in success, and a relaxing hobby can be the perfect micro vacation for your mind and spirit.

My woodworking hobby has been an escape for me when I am feeling stressed from work or just stressed from life. When I start to feel the pressures of the world caving in on me, I can go into the garage and dive into one of my fun projects, or I can pick up a piece of wood and start creating something new. It is an outlet for me. It gives me the headspace to think and contemplate problems that I am dealing with. But sometimes it is just a way for me to just stop thinking, clear my head, listen to music, and escape into that flow state that makes us all feel more alive when we’re in it.

So what happens when that hobby that you enjoy so much has turned into your full-time grind? Will you still get the same amount of pleasure out of it when you’re working at it for 40, 50, 60, even 80 hours a week?

When I was laid off from work during 2020, it provided me the opportunity to spend my time doing the things I loved the most. I became passionate about all things that could be created from wood and other natural materials, and found peace in the beauty of nature during a time when the world was in panic and seemed to be falling apart. But because I was laid off from work, and I still had financial obligations to fulfill, I felt like I could do my part by turning that passion into a business.

Once I did that, the magic started to go away. I would spend a whole day making one piece of jewelry or perfecting a single wood slice for a piece of art. I started to imagine who might buy this from me and what I could charge for my pieces. Very quickly I realized that if I was going to make money doing this, I had to be efficient and I had to produce large quantities. I would need a standard product that was marketable but unique enough to get attention. And most importantly, I needed to be at a price point that the market was willing to pay.

The bottom line is that it started to consume me. I spent most of what I considered to be my “work” hours in the garage cutting wood slices and sanding (since it turned out that what the market really wanted was raw wood slices!), or at my computer editing images and managing orders. All the while, I was just thinking about the things that I wanted to do next. Like, when I finish filling orders, I’ll go in the garage and work on the fun projects that I want to work on. I’ll finish my wood slice wall or work on the necklace I was making for my mom.

But that is never what happened.

I would go back into the garage and start cutting more slices because I knew that it was a good use of my time since it would ultimately generate sales. And I never seemed to have the time to get back into the flow of just working with wood because I loved to do it. The place that at once brought me so much joy and fulfillment was now a place that felt more like going into the office and I lost touch with what I loved.

So it is important to take the time to imagine what your life might look like if you decide to turn what you love into a business. Maybe it is quilting, or pottery, or graphic design. Whatever it is that you are passionate about, what will it really take to turn it into a lucrative business? Will you still keep your own projects separate from your work projects so you can protect your mental and physical health?

What is your primary motivation?

Are you motivated by money? Do you want to be recognized for your skill or talent? Or are you driven by a fantasy of a life that you might one day have if you just follow your heart, do what you’re meant to do in this life, throw caution to the wind, start living your best life, and then build an empire around it? Or do you just want to do more of the thing that you love to do?

If your primary motivation for turning your passion into a business is just your love of doing that thing, then remember that feelings can change.

Just the fact that you are considering making a change in your life right now just shows that we are creatures who like to evolve, like to get better, and like to experience new things. After a while, it can be hard to motivate yourself to keep grinding once the excitement and passion wears off.

It is important to remember that if you are selling a product or service, that product or service must be something that your customers want. If you’ve done your market research and found that people really do have a hankering for your particular brand of hot sauce (or popcorn, or soap, or knickerbockers…) then it could prove to be lucrative business. But if the only people clamoring for your beef jerky or hand-knit dog booties are your closest friends and your mom, then maybe your hobby just isn’t meant to be a business.

Remember that the purpose of a business is to CREATE VALUE that translates into MORE DOLLARS than what you started with. In other words, you need to make money, because that is the essence of what a business does.

The appeal of “living your life’s passion” has taken an unfortunate toll on a lot of creative people. You can see it in particularly in the restaurant industry where a passion for cooking and hospitality turns into a dream of creating a restaurant. The exciting part is building the perfect menu that is fun and a little quirky and all your own, and designing the aesthetic that is everything you ever wanted. But soon after the doors open (if you make it that far), the long days turn into long nights, it becomes difficult to find employees, your food costs are out of control and somehow you already owe money to a plumber, an electrician, a lawyer, the phone company, the gas company, an ice machine repairman, a software company, and you haven’t even paid your staff or placed your next food order.

This is not to say that you can’t make it happen. Many people do go on to build successful business that support their goals and create value and wealth for their families. It can happen. But too often the only stories we hear are the stories of success, from the people who did do it because they have the most appealing stories. And what journalist wants to do a story on that guy who almost started a business but then never launched it because the money ran out, or the permits were rejected, or the market wasn’t right for it?

Ultimately, you are the only one who can truly decide what is right for you. But understanding what motivates you will help you sort out the direction you should move in.

Consider a hybrid model.

This is your business (or hobby) which means that you can make of it whatever you wish. And there is nothing wrong with having a hybrid that is half hustle, half hobby. It can be a great way to enjoy your hobby even more by sharing it with others and earning a few extra dollars to allow you to expand your craft.

I know of quite a few photographers who have put up websites to sell their prints, either digital or physical, just because the money helps them upgrade lenses and take trips to photograph new places. Plus they get to showcase their work and share it with others.

There are plenty of other ways to sell your products including Etsy, Amazon, and even eBay. And if you don’t want to go the online route, reserve a booth at a craft show, trade show, or flea market. In most cases you won’t make a ton of money at these events, after you consider the money you put in, but when you are doing it for extra money, it can be enjoyable nonetheless.

So where do you go from here?

If you ultimately decide that you still want to create a business for yourself doing what you love, then set goals for your progress and stay accountable to them. When you are following your heart you can easily go astray from the plan, and when it feels like the right thing in the moment you can rationalize that it really is the right thing. But remember that when you are selling a product or service is has to feel like the right thing to your buyer, regardless of what your heart tells you.

Set boundaries and protect them.

For the record, I still love woodworking. I love to take a small piece of nature and transform it into something that can be appreciated and cherished. And yes, I still sell pieces from time to time, but I am not doing it for the money anymore. And I am not doing it because I have to do it.

If you are able to generate the income you need from doing what you love to do, then I encourage you to explore the option. But set goals, create boundaries, and proceed with caution, because sometimes you don’t see the things that have been lost along the way when you’re moving too quickly. Get your feet wet first, and if you can continue to acclimate with each step you take, then I believe that it is possible to find balance.

And balance might just be the key to building a successful passion business.