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Are you ready? The journey from hobby to business! #GrowingBusinessesTogether

Hobby to business Possibilities!!

Let’s Explore

When I was a little girl my mother actually pestered me to have a hobby. For her a hobby was something like sewing, knitting, singing etc. I never found that interesting. However writing is something I always enjoyed. My essays and write-ups were always circulated and read in classroom as well as staff room because I always poured my heart in them.

Why all of a sudden I am speaking about my hobby today because, I came across a though and wanted to share it with all of you is that “Do Hobbies make successful business? Me and many from the writing community have plunged into blogging, SM influencing and even being authors leaving a regular day job at bay. That surely is a gutsy decision to make. The answer is not simple, everyone has to test it for themselves however it’s true that hobbies can become business.

Generally these hobby based businesses fall into the MSME category. At least they start as a Micro/ small or medium business than they grow depending upon the potential and passion of the founder.

MSME’s contribute around 17% to the country’s GDP.

And it has grown many folds in 2020 and 2021

Every country has a different definition for these businesses. In India it is categorized based on Assets involved.

These businesses largely are either Manufacturing or Services sector.

Micro Businesses:

Household business or “kutir udyog” like making papad, pickles, snacks etc fall into this category Basically manufacturing businesses which has less than 25L INR investment in plant and machinery and Service based business which have investment in equipment under 10L INR.

Small Businesses:

These are the businesses with investment in plant and machinery between 10L to 2 Cr. INR for manufacturing and between 10L to 2 Cr. INR for Service based

Medium Businesses:

These businesses have an investment in manufacturing between 5cr to 10cr INR and in Service Investment in equipment 2 Cr to 5 Cr INR.

SME contribution to employment:

Manufacturing-18% and services-34%

That is why its called one of the strongest pillar of economy

Growth and changing face of MSME’s in India

India is a country with more than 825 million internet users. It means unlimited opportunities for buyers as well as sellers.

The new breed of “tech-enabled” entrepreneurs, are trying to start businesses online. Tier 2 and Tier 3 Cities like Patna, Guwahati, and Imphal are emerging as business hubs. The growth in online business has been 3 times during Pandemic.

Photo and video-sharing social media platform Instagram is also becoming a major branding and acquisition channel for businesses.

Everything need to fall in place

How the Government is supporting you to start a business

Government of India has put in lot of effort and rolled out new initiatives to give a boost to MSME business ventures. Which also include various Loan schemes. Adapting to latest business trends can give a fulcrum to your dream of hobby to business. In terms of digital boost to business, 3 star-campaigns are launched.

Skill-India:

Skill India or the National Skills development Mission of India is launched By Prime Minister Narendra Modi in 2015 July and is run by NSDCI.

 Make in India:

If India has to stay afloat in global competition, then dependency of foreign goods has to go down. Not just that but make in India gives boost to the local services and manufacturers.

Digital India:

The motto of Digital India Initiative is “Power to Empower”. This initiative focusses on boosting internet connectivity, digital literacy and providing government services available to all citizens

Although UPI, payments wallets are a separate initiative however it is as crucial as anything else in bringing ease to doing business.

E-commerce adaptation & how it helps

  • E-commerce platforms provide small businesses a basic infrastructure cost, where in they can directly advertise the products, manage customer reviews on the portal directly rather than starting with the cost of building a portal and all.
  • These online portals give the seller a wider customer base in the country as well as abroad.
  • It’s a cost effective medium to grow sales and business expansion. And
  • Improves the business profitability
  • The marketing and distribution in offline business can involve lot of expense like managing a customer service centre, participating in road and trade shows etc. However with Online Social Media platforms can help in improving traffic on the product site, direct connect with customer- which is good for positive feedback as well as grievance handling.

The most common hobbies that have become successful business are Home decor, apparels, toys and games, kids clothing, Art craft and stationary etc.

You need to manage all

Litmus test to check whether you are ready to take your Hobby to be a Business:

Are you ready for the big leap-

Hobby is for leisure; business needs commitment, passion, meeting deadlines and customer management. You took up this particular passion or hobby because it gave you some time with yourself, but an Entrepreneur will always have to be ready doing multi-tasking. Will your family support you in doing this? No doubt with online business it’s easier than older ways of businesses. Work life can be balanced and deliveries can be planned, still every business needs sacrifices. Be prepared.

Save and plan for rainy day-

Most of the startup businesses take years to actually start generating considerable amount of profits.  Plus they might or might not fly as expected, hence always have a backup plan. Save for not just rainy days but for rainy months ahead. So that financial pressure doesn’t pull you back.

Branding-

Having an identity is important for every business. A thoughtful name, a relevant logo, working website, responsive and responsible social media handles, business cards are some basics.  Use Social Media to its full potential and it can do wonders for you.

Many website hosting platforms offer support and templates in designing websites as per your requirements, plus website can be designed by professionals in a very cost effective way.

Watch your finances-

Either hire a professional to manage your finances or take help of easy to use accounting software or if any family member can help in keeping tab on expense, income, cash flow etc. will take certain portion of stress off your head. Keeping a tab of finance is crucial for a business.

Get a mentor-

Find someone who has walked the talk before you. I have seen many mom-prenures taking help from successors and people love to share their learnings and play a role of mentor. That’s why we have communities; we can always learn and grow from each other’s experiences.

Hope the post helps you understand your competencies and limitations before you dive into the Growth tides of MSME in India. Most of the successful businesses in current times are making specialized Indian spices like Biryani masala, butter chicken masala, garam masala, sambhar masala etc. Next comes the handmade soap, candle and chocolate making.

It’s not about easy or difficult, rather it’s about how passionate are you to take your hobby to business.

take a leap of faith
hobby to business
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I got a chance to collaborate with one business into MSME sector, and help them in marketing. Berry tree has amazing organic cotton wear, you can check the collection here!

This Post Has 15 Comments

  1. It takes a leap of faith and many factors to take a hobby to business. Your post showcases a path for every person who aspires to take a leap in systematic approach.

  2. Dr Madhuri Lele

    Well planned writing. All points are covered. This will definitely helpful to the new and upcoming entrepreneurs.

  3. Alpana Deo

    For any hobby to be converted into a business need proper panning and thought process backed up with a strong launching platform. Small scale business have a significant share in India’s economic growth. The three schemes combined with E-commerce can take India to new heights.

    -Alpana Deo
    http://www.mothersgurukul.com

  4. Harjeet Kaur

    You are so right. Times have changed and Hobbies are becoming lucrative. But I guess I started very late in life and I am not tech-savvy enough to market myself. I have been an evaluator for Skill-India a few years ago.

  5. Roma

    Quite an insightful piece Ujjwal and yes we writers can definitely fall under MSMEs if we pursue our goals professionally and like you said ready to take the plunge

  6. Surbhi Prapanna

    Loved your post Ujjwal and I agree that nowadays with the power of digital media, any hobby can be easily cultivated into business. MSME is one of the best way to launch your small or home based business . it is also great that Government of India has put in lot of effort and rolled out new initiatives to give a boost to MSME business ventures.

  7. Dr.Amrita Basu

    Finding a mentor could be one if the most life changing decision if you want to find a way to leap from hobby to business. Everything is possible of we just know how !

  8. Milan Singhal

    In my opinion, digitalisation has given a necessary boost to those who have launched their business. The checklist u have mentioned at the end is helpful to make a sane decision.

  9. Cindy Dsilva

    I agree that watching our finances is very important while starting something new. It’s good to read such a detailed post on MSME.

  10. Swati Mathur

    Hobbies generally comes with passion. And people who can convert their hobby into profession or business are the lucky ones. But now it’s seems like a reality. I agree with you when you say digitization had made thinking but easier.

  11. Your mom was right. Developing a hobby that time definitely gives us a plan of starting our own business. A lot of womenpreneur bloomed during the pandemic wwhich I’d definitely say was through having a proper plan in hand to bring out their passion into reality

  12. Ishieta

    I have contemplated the same question, and this article is helpful in sharing information. i did not know that the government has these programs which support the entrepreneurial dream.

  13. Hansa Kajaria

    When a hobby turns in to business, it’s passion mixed with profession to earn and that for sure can work wonders. Like you mentioned, the right advertising and reaching out to the audience can help grow.

  14. Snigdha

    When hobby turns into business, the happiness is at some other level . Thanka for providing all these required information.

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