Top ten essential steps for turning your hobby into a business

1
Top ten essential steps for turning your hobby
into a business
2
Specify your goal

• Set a target for the next few years.
• Have the minimum and maximum income target in
  your mind.

3
Analyse market

• Understand your peers and the market size.
• Evaluate the existing market demand for the
  product you intend to sell.

4
Determine the ideal business model
Decide on whether you want to sell your things
online, offline, or both.
5
Concept testing

• Start by selling a few of your products.
• It will give you an idea of how your product will
  do in the market.

6
Formulate budget
It will aid in allocating funds to different
departments.
7
Prepare your marketing strategy

• Decide how you will reach out to your customers.
• Promote your product both online and offline.

8
Prepare your marketing strategy

• Decide how you will reach out to your customers.
• Promote your product both online and offline.

9
Staff hiring

• Look for hiring skilled employees.
• Make sure your office is in a decent location.

10
Plan your finances
Keep track of your business assets and
liabilities.
11
Plan for post-start-up obstacles
Always prepare a strategy for dealing with debts
or government policies.
12
It's a great experience to turn your passion into
a money-making business. But, to ensure its
success, take the steps outlined above.

• Hero Fincorp

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Hero Fincorp Limited
09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel [phone]
Email customer.care_at_herofincorp.com
Website https//www.herofincorp.com/
Know More How to Turn Your Hobby into Business
A 10-step guide