Passion Economy: When Everyone Takes Own Path

Xperience Plus: Passion Economy: When Everyone Takes Own Path
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Passion Economy: When Everyone Takes Own Path

23 June 2020, 8 mins read – Aleksandra Sadovnikova

What are things you think about when you hear the word “economy”?  Probably, labor market, taxes and salaries, banks, and loans. Let’s look at the definition of economy: the system of making money and producing and distributing goods and services within a country or region.

The services are presented by people who work, so our jobs are in the focus of economy. Doctors offer healthcare for patients, drivers bring you in time to some place, producers of different goods and food give you possibility to take whatever you need, and so on. But are we happy with the way we work?

Traditional view on working class is when anyone gets up with the sunrise and comes back in the evening, and after 30 days here arrives salary. People who didn’t want to live like that and wanted to organize themselves in their own way previously faced a lot of prejudice, misunderstanding or even offences.

Time passed, and the old way of working was replaced by a new one – the free way of working, freelance and part-time, that was different and more creative and permitted a professional to handle his/her time and resources to perform better their abilities. In this way there were born many individual entrepreneurs and Ltd (or LLC). This is also called “gig economy” which consists of flexible, temporary, or freelance jobs, often involving connecting with clients or customers through an online platform.

Top-10 countries with significant number of freelancers by Payoneer

Indeed, nowadays we have a lot of freelancers in outsource that contribute in different projects working directly from home.

What about another category of people – the artists and performers? Most of them are also outsource workers of some project, and almost all are freelancers and private entrepreneurs.

Since the world has such services as social networks, blogs and YouTube, people have received a unique possibility to create their own content which represents their hobbies and lifestyles.

In fact, among 1.7 billion of sites there are about 600 million blogs, and only in the USA the number of bloggers reached about 31.7 million in 2020. Impressive, isn’t it?

Now, Instagram is famous for micro-blogging and YouTube is a popular space for vlogs. Artists of all types, specialists in different fields and amateurs show their skills to the world-wide audience, and the most successful even create a profit.

This is so-called monetization of skills that lays in the base principals of Passion economy. Passion economy offers to individuals freedom to work whenever and wherever they want, and it also generates passive income. It is seen as a combination of technology, entertainment, and media.

An economy that empathize the individuality of the provider

Is this passage from Gig to Passion economy really necessary? Yes, it is. The world has changed a lot in different ways, as its people. We try to know ourselves better to understand our strong and weak sides, to find a place in the world where we can apply better our skills.

The businesses nowadays look not only for good specialists, but for soft skills of a person. The rule “to have the best qualified specialists in the office” doesn’t work right now in a way it worked before – if these specialists don’t go alone with each other making the atmosphere in the office sick, it will never be a strong united team.

Passion is not a unitary thing. It’s a combination of a bunch of different things that you uniquely combine, and in a way that nobody else does.
Adam Davidson, author of The Passion Economy

So, we can say that the new Passion Economy is an economy of individuals that apply their skills in different fields and making money thanks to their hobbies.

The contribution of X+ into the Passion Economy and people’s life

As we mentioned before, in the new world people are trying to monetize their unique skills, passions and hobbies. X+ is a marketplace born to empathize you as a content provider, and it was created for such individuals who would like to demonstrate and share their skills with others and monetizing them.

Why should anyone monetize a skill? So, the answer is simple: when you do something (create ragdolls or taking pictures) and you are quite successful in it, soon or later it becomes a sort of job. Your hobby needs more time, better materials, or supplies, you invest even your emotions. Of course, you would like to be rewarded, because a reward is a way to say “thank you” for the time and goods you have invested in your final product.

X+ gives an opportunity for Doers to create a unique content that is asked by Dreamers, performing different scenarios of special and everyday situations.

 Today you are able to create your own job, based on your abilities and passions, and monetize your experiences, getting in contact with your audience. X+ empathize the idea that anyone can have a new job, without bosses, where he/she can highlight his/her uniqueness and experience, more focused on individuality.

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