From Passion to Product?

Hobbyists tend to be the passionate sort—whether they’re brewing beer in the basement or knitting scarves for kittens—it’s often difficult to separate the hobby from the person. They talk about, care for and believe in what they create. The ideal accompaniment to your business, right? In some cases, yes, but can your hobby really be turned into a viable product?

Before you start stocking your shelves, consider this:

·        It takes more than love. You enjoy your hobby now, but will you be happy doing it to keep up with demand? Stamina will play a major part in whether or not you can mentally and physically sustain this new product idea.

·        Do people want what you’ve got? If friends and family—even strangers—have made positive comments or requests, start there. It’s a good first step to test the waters without breaking the bank.

·        See beyond the dream. Yes, you love it and you’re very good at it, but what about the costs? What’s your overhead? What’s your price-point? Is the markup too high for consumers to bite?

Start with a bit of soul searching, do a lot of research (including polling your current customers) and see if your new idea can be incorporated into your existing business plan. And keep in mind that it takes more than wine-fueled conversations and daydreaming to make the leap from pet project to hot commodity.

Source: http://www.manta.com/resources/tip-of-the-day/from-passion-to-product/?utm_medium=Email_Marketing&utm_source=Newsletter&utm_campaign=TOTD&utm_content=TOTD_ReDesign&utm_term=16832&su=hq344mgu9vl41l