Passion into profit: The importance of creating new niches and content that resonates

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COVID-19 triggered what some economists have labelled as Schumpeterian creative destruction - a process of economic innovation that, with the demise of old structures, has facilitated the birth of new ones. This process was conceived under a new revolution in the way we think about work: the what, the where and most importantly the why.

The rising ecosystem of accessible digital platforms in this environment became the fuel that powered a new Passion Economy, a term coined by Li Jin (founder of Atelier). A rising group of entrepreneurs are prioritising their passions in the hopes of pursuing the antidote to the stress and burnout of an entrenched hustle culture. They are turning the traditional criteria of success on its head and pursuing a model that prioritises autonomy, ingenuity and freedom.

Passion though, isn’t the only ingredient required to make this lifestyle successful. It is the foundation that will make it work. Today, Andy Wilson, Director at Dropbox UK explores how people can turn this passion into profit.

Knowing your niche and how to use it


These days “content creator” is a growing job title as online entrepreneurs take advantage of a rising number of free digital tools. The recent explosion of new digital platforms such as TikTok, has connected people to new work opportunities, allowing people to monetize their creativity.

Through this, creators can distribute directly to their customers, fans or audience or develop creative content for other businesses that help to accelerate their growth, or just connect better with their customer base.

Content democratisation has resulted in a huge array of digital content being created, exchanged and consumed online. With a wide network of content marketing available, content creators have been able to take advantage of numerous routes to reach their consumers

These platforms have enabled people to become digital content curators and experts at engagement and digital creativity. With the increasing appreciation for content, it’s also given rise to the tipping and gratitude economy - facilitated by platforms like Patreon that are constantly creating more ways for digital content experiences. 

New niches have been growing in the pandemic and so have the spaces that accommodate them, whether it be playful or practical, there is a place for it all - from e-books and recipes to prints and workout videos. But, choosing the right place to showcase your content is an important part of minimising any obstacles between the creator and the consumer.  

What is key though is knowing what your customers want. Your goal should be to match your niche to your market with the aim of making a specific product for a specific person, instead of everyone. With your niche audience honed in, it is then about understanding who they really are - What do they want? How do they value it? How do you create that value?  

Being authentic: Creating content that matters 


To turn your passion into profit, one of the core foundations is to present something to your audience that is authentic - that is what will help you gain and keep your market of loyal customers. 

You can’t fake authenticity. It is the thing that makes the idea of a hand-crafted side table so appealing. It feels honest and filled with effort. In other words, creators need to turn their niche into something that has a valuable story behind it. A story that stays true to who you are and those that are interested in what you have to offer in the marketplace.

The Passion Economy requires you to keep learning about yourself by having the curiosity to explore and experiment. Considered content has aided a lot of communities to engage in self-expression, awareness and idea creation.

Communities that have been disconnected prior to the pandemic, now have access to an audience that is ready to engage digitally and experiment with new experiences. There has never been a better time to be a creator.

Header image by Odunayo Olawunmi


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