Passion Ventures
The lockdown has given rise to so many passion ventures, where the break gave people the time to think about and realise what they truly love to do and are great at and also a chance to try it out.
Some examples are the huge amount of homechefs and
bakers that suddenly sprung up apart from a variety of
other passion ventures that started and this phenomenon will only rise from here.
Side Hustles/Passive Income
Due to various changes in the working environment,
work from home and digitisation, there is a huge
opening of opportunities for side hustles that open
a flow of passive income. Some again stem from the
fact that people can do things they were great at or
loved, along with pursuing a job from home and hence
trying how it goes along while earning an extra income, or it could purely be out of the immense opportunities that exist.
The saving of time on commuting, flexible work
schedules, huge demand in online and digitisation
work will further fuel this.
Alternate Careers
One of my favourite things that has come out of this shift is the acceptance and rise of alternate careers. The larger YouTubers, Influencers and Gamers are now earning more than mainstream CEOs, so the typical career graph and the top courses or paths has taken a dramatic turn, again giving people a chance to truly try and follow their passion irrespective of other education and skill sets and yet be successful.
Digitization and Alignment
Existing businesses would all need to align to these changes in the market, in society and in their workforce. Digitisation would be key to every
business and it’s growth and survival.
Manpower resources therefore in tech and
digital will be a challenge that small and big
businesses will face and this has already begun.
A shift in skill set requirements, up-skilling, employee retention and adapting to the new normal would itself be a challenge and a market opportunity.
Sustainability Ventures
The pandemic and the sudden effects of nature and unpredictable circumstances, the affect of the lockdown on the air quality and pollution and the very change in peoples thoughts has brought about a larger awareness and sensitivity towards sustainability and the environment.
Projects towards a sustainable future, recycling, up cycling, alternate energy, waste management and others would not only be impactful but also profitable thereby providing dual bottom lines.
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