What Is Passion Economy? How Is It The Next Big Thing?

What Is Passion Economy? How Is It The Next Big Thing?


  September 1, 2020

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  September 1, 2020

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Remember the 1980s and the 1990s, when people believed only in conventional professions- a doctor, a government job or a businessman because any other profession was a risky deal? No one really used the word ‘entrepreneur’ at that time. There were rare ‘entrepreneurship programs’ unlike today. 

 

Entrepreneurship is the most ‘happening profession’ of our times. Entrepreneurs are the epitome of coolness for today’s generation. Giants like Bill Gates, Steve Jobs, Mark Zuckerberg, Elon Musk, Peter Thiel have significantly inspired people over the past couple of decades. So, the question is what next.. what is the next big thing after entrepreneurship? 

 

The answer is CONTENT CREATION!

 

Noticed how often you have started following budding creators on Instagram and YouTube because of their innocent and authentic work? These content creators are the next big thing in line. 

 

Also check out: 7 content creators who are conquering the towers of profession and passion;  https://blog.doyourthng.com/2020/08/18/7-creators-who-are-conquering-the-towers-of-profession-passion/

 

Whether it is journalism, dance, music, education, cooking, travel, or anything else, content creation is for all. We are living in an economy where non-consumers interact with non-producers and exchange goods- the virtual goods i.e., the content.
This, according to Adam Davidson, is called ‘Passion Economy’. We have Unacademy, Byju’s, and different educational startups- everything online. Years back, for investing in an MBA college, you needed to ask your company to pay for it. Now, you have bloggers like Tanmay Bhat who are passionately simplifying the perks and perquisites of savings and finances. 

 

Education about any given topic has become easily accessible, economical, up-to-date, and practical. With the comment section below the video or Instagram post, you can have a dialogue, discussion and even get answers for your queries from the educators directly.

 

The Passion Economy has created jobs, the ones that people find interesting. Many standup comedians in India are engineers who dropped from their engineering careers mid-way and are making a living for themselves. They have a genuine fan base who admire their work. They can monetize their skills, passion, and ideas. They are finally breaking the walls of mundane 9 to 5 job structures. 

 

People believe that content creators are simply creative entrepreneurs. However, it is a completely different field with a different set of rules. Entrepreneurs are creators whose company, brand, and customer value- are their only products.  On the other hand, the content creators have engagement with their audience for the brand. 

 

An entrepreneur works for himself and aims at making big out of nothing. The content creator also does something similar to this. These two professions go hand in hand. An engaged audience will always turn into customers. 

 

Also read: The 80-20 Rule to Grow Your Instagram Page. https://blog.doyourthng.com/2020/08/14/the-80-20-process-to-grow-your-instagram-page/

 

Most content creators are basically communicators. Just like various areas in a profession, there are different mediums in content creation- visual, audio, text, and video. With these two professions coming together, a whole new arena of opportunities is open for enthusiasts. Back in the 90s and 80s, you had to choose between earning well and passion. It is all interlinked- art, passion, business, and profits!

 

Content creation might become the only true profession in no time. So get ready, brush your skills and think out of the box because times are changing and you ought to be ready as Hans Moravec wrote:

In time, almost all humans may work to amuse other humans, while robots run competitive primary industries, like food production and manufacturing.”

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