01/22/2015 06:08 pm ET Updated Jan 26, 2015

How To Make It In The DIY World

Nothing satisfies like conquering a DIY project, whether that's knitting your own sweater for less or constructing a brand-new table all by yourself. But, perhaps, there is an even more rewarding feat: Turning your know-how into a career.

Nora Abousteit, for example, is CEO and founder of Kollabora, an online community where "makers" flock to share their DIY ideas. At Davos, she told HuffPost Live's Roy Sekoff how other DIY-ers can start businesses of their own:

Study your passion.
Abousteit started as a crafter herself, learning welding with her dad and knitting with her mom. Later, while working at a publishing company, she noticed a shift: people were "starting to make things," and the sewing patterns she published online were hugely popular. After doing her research, she "realized there was big potential" in her area of the DIY market.

Tap into the younger crowd.
The DIY audience on her website consists mostly of crafters ages 18-35, Abousteit says. They're a crowd that is "concerned (about) where things come from," and how to make them. Keep that in mind when concocting your DIY innovation.

Follow your gut.
The prospect of her DIY business opportunity "made my heart beat faster," Abousteit says. She advocates following your gut, whatever your invention may be.



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