Turning Your Hobby Into a Business
Are you a talented hobbyist or maker?
Do you want to supplement your income?
No sure how to get started or need some direction?
Turning Your Hobby into a Business
Transitioning from making items as a hobby and selling them as part of your product line can be daunting, but doesn’t have to be. LAEDA is here to help you every step of the way.
LAEDA’s Turning Your Hobby Into a Business 6-part series where micro-entrepreneurs who want to transition a product or service based hobby into a business.
Course Units Include:
CURRICULUM
ATTEND THIS PROGRAM TO LEARN:
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Product Development & the Production Process
A successful business starts with a great product.
Developing a product the customers will like and, more importantly, buy is a critical first step in starting your business. This unit focuses on product development and the importance of a production process that results in quality products at scale. Attendees should be prepared to showcase their product at this class.
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Understanding the Power of Marketing
Who’s Your Customer? Everyone is not the Answer!
As microentrepreneur your advertising is limited if not zero. Understanding your target customer and choosing the right public markets/ vending events is critical to your success. During unit, attendees will learn how to create an ideal customer profile and how to determine which public market or online platform makes the most sense.
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Sales Channels for the Side Hustle Business
Low Cost Entry to the Market!
When starting a business, keeping overhead costs down is important. This unit focuses on three low cost sales channels where you can sell your products; public markets, online sales platforms and retail accelerators. Attendees will learn how public markets work, best practices in setting up a vendor stand, how to create an e-commerce presence on a budget, and the benefits of a retail accelerator.
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Money, Banking & Credit
A successful business starts with a great product.
Developing a product the customers will like and, more importantly, buy is a critical first step in starting your business. This unit focuses on product development and the importance of a production process that results in quality products at scale. Attendees should be prepared to showcase their product at this class.
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Business Administration & Bookkeeping
Are you making money? How do you know?
Committing to keeping accurate records of all sales and expenses is the foundation for ensuring your business’ future success. Written transactions serve as a documented history of your business’ daily performance. In Unit 5, attendees will learn best practices for record-keeping practices and how to those records as a tool to make future business decisions.
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Business Pitch & vending Presentation
You have made it! Let’s showcase and celebrate!
We’ve spent six units working to improve your business. This unit is where it all comes together. On this night, attendees will compete for a prize package. Celebrate with your fellow attendees and friends by setting up a vending table at our program wrap-up market.
Does This Course Match Your Business Goals?
Consider the following when deciding to register for this course:
A Great Product
Turning Your Hobby Into a Business (THB) is designed to help a hobbyist bring a product to market. This course does not lend itself to a service business.
Supplement Income
THB is designed to help individuals who wish to start a micro-business to supplement their income, at first. Income replacement is possible as the business grows and experience is accumulated.
Beyond the Idea Stage
THB is designed to help individuals who have clear understanding of their business idea.
Ready to Sell
THB is designed to help individuals who have some production capacity to begin selling products right away. Having some experience making is great, but be able quantities is best.