Turning a hobby into a business

gzlaser

CRAIG Martyn, a second-year business student at Cal State Fulleron university in California, is a shining example of how someone can turn a hobby into a growing business.

An avid model train enthusiast, Martyn, at age 15, felt there might be a marketplace for model trains and accessory items. So in 2000, he set up his model business – BLMA Models (Best Looking Models Around). In the past four years, BLMA has seen a three-fold return in gross sales.

For the Southern California native, the model business was a natural extension of a hobby. \"assion is what has transformed it into a business,\" Martyn said in an interview with InCharge Education Foundation, a personal finance service provider in the US. \"Everything was built on a passion.\"

The 22-year-old views his business as a practical extension of his course. \"This business incorporates all that I'm learning in class,\" he said. Principles such as importing, exporting and outsourcing are not just abstract textbook terms, according to Martyn. \"I'm doing this,\" he often thinks during lectures relevant to his own business practices.

Just last year, Martyn established an outsourcing agreement with two factories in China. Martyn believes this has been a wise decision. \"Higher quality products with lower prices demand the utilization of outside markets to remain competitive in the changing marketplace,\" he added.

Martyn thinks honesty is the key to \"sustaining relationships with customers\". \"I try to run my life and business to the highest level of ethical standards,\" he said. \"I'd rather give someone my handshake than let them down.\"

However, being a boss is not easy, as Martyn places a great deal of responsibility on himself for the success or failure of the company. \"Being your own boss, you only have yourself to blame if something goes wrong,\" he said. \"[The business'] success is my success. I thrive on the constant excitement of improving my business.\"