Not every entrepreneur wants to build a multimillion-dollar company. Some just want to live the dream of transforming a hobby into a career.
It's an idea that sounds great in theory: Take something you love to do in your spare time and make it your sole business focus. And for some it works out swimmingly—it may even finally convince a spouse that there was a method to the madness behind all those bills piling up over the years for what seemed like a frivolous basement activity. For others, making the move from hobby to Hobby Inc. can prove to be a hasty decision and major life regret.
So think twice before betting that your hobby will be your dream job. You might lose both the hobby and your livelihood if it's a transition not thoroughly thought through.