The Passion Economy is upon us and it’s everything that not only I believe in, but I’ve only built businesses that thrive thanks to it.
It’s all about making money out of one’s creativity. Never before has it been such a perfect environment for founders to build audiences at scale and turn their passions into livelihoods, whether that’s playing video games, producing podcasts or building a business out of a skill such as pottery, cooking, gardening etc. I think in the future, there’ll be a new name for what we call an entrepreneur, as it implies ‘only a few of us can do this’. But actually the passion economy has huge implications for what we’ll think of as a “job” in the future. Because so many people are now freelancers? So many people have a business idea? Family members have a side hustle.
The beauty of all of this is something I’m beside myself about – the fact it’s all about monetizing Individuality! And digital platforms are all around us, enabling people to earn a livelihood in a way that highlights their individuality. Think back to the mid-2010s and the rise of the influencer industry. allowing creators to monetise their hobbies, skills, looks, personalities through advertising. Never before has a medium ‘the internet’ that’s created businesses such as marketplaces and social media empires allowed such mass self-employment. We truly are living through the industrial revolution of our time.
Notonthehighstreet was one of the first platforms in the world, to help people monetise people’s passions – knitting, sewing, gin instilling etc. Holly & Co is living by giving encouragement to all who want to jump onto this passion economy with advice and inspiration. If you’re reading this and have your own business, the likelihood is – your business has helped make the passion economy, a thing!
Isn’t it remarkable to watch how the ‘human want’ to show their individuality and build a business out of it, can use technology to be even more human? This is a prime example of how it’s not ‘us’ against technology, but when the two worlds combine, how creativity and entrepreneurship can bloom thanks to the powerful combination. It’s a pretty fabulous time!