Last summer, I started working on a hobby site about junk cars. It was called Cash That Junk Car, and after working on it for a few months, it had gained some traffic and I realized that it could be something more than a hobby. However, I was hesitant to make the jump from hobby to business, so I had to weigh a few things before I made the decision.
The first question I asked was: am I willing to put in the time and possibly money to make sure this thing really takes off?
It turns out, I was more than ready. Even with a full-time job and other responsibilities that took up my time, I was more than ready to take on an exciting new side project that would hopefully result in a few extra dollars each month. So in this department, I found myself ready to make the entrepreneurial jump.
Next question: what was my growth and exit plan?
Too many times, when people change from hobby to business, they don’t have a specific growth and exit plan in mind. For me, all I wanted was to grow the site to something significant, then most likely, sell the site and try to cash in on the profits that it had made so far.
So after looking over both these questions, and reviewing some competing websites, I decided to make the jump. It’s been almost a year since I’ve worked on the site, and I’m still making a lot of progress. Each week, I add more resources to the junk car blog and I’m hoping one day, it all starts to really pay off. Until then, I’ll keep working at it!
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