3 Reasons Why 2021 Is The Best Time To Start Monetizing Your Passion
Entrepreneurs Rachid El Khabbachi and James Watts share how having experienced the tumultuous year of 2020, hopeful entrepreneurs should feel strong enough to turn their passion into capital
The year 2020 was that of uncertainty and indecision, the global pandemic canceled plans and put aspirations on hold. Understandably, hopeful entrepreneurs will be approaching 2021 tentatively. They may feel that now is not the right time to follow their entrepreneurial aspirations. But experienced entrepreneurs Rachid El Khabbachi and James Watts have positive news for budding business owners, here they share with us three reasons why 2021 is the perfect time to monetize your passion.
2020 made you stronger
Though this may appear to be an unfounded statement, it is the truth; 2020 was testing for everyone worldwide and your ability to navigate through its unprecedented times will have taught you more lessons than you realize about the resilient spirit needed to monetize an idea. El Khabbachi states, “2020 created countless obstacles that everyone had to overcome, and dealing with unprecedented situations is the fastest way to learn how to think outside the box.”
Watts agrees that adversity is a fire that many entrepreneurs have to walk through and it makes them stronger, “You will learn the greatest lessons about yourself and your business abilities by how you overcome issues that threaten your success,” Watts says.
You now understand the importance of your passion
Many of us are beginning 2021 with a new appreciation of the passions and interests that kept us entertained and occupied due to the isolation that the pandemic imposed on us. Perhaps you thought that cross stitch was just a hobby that you enjoyed but the pandemic proved to you that it’s hugely popular worldwide and offers many gaps in the market to create revenue.
El Khabbachi feels, “Hobbies and passions took on a new meaning in 2020 and the importance and popularity of past times that once seemed insignificant shouldn’t be underestimated.”
Watts adds,” You are likely starting the new year with a greater understanding of your passion, which will help you to navigate it through the journey of monetization.”
Your consumer pool has expanded
We are entering 2021 during a time where e-commerce is king, with rising rates in the number of consumers who are now shopping exclusively online. If your passion can utilize e-commerce and translate into a remote service or product, then 2021 is the year to explore monetizing it. Restrictions and lockdowns have changed the shopping experience, remote services and online products are no longer a niche, they are a necessity. El Khabbachi elaborates, “In the current climate if something can be provided remotely it will instantly have an available consumer base, so if your passion is rooted in the digital world then the consumers of 2021 will be your perfect audience.”
Watts expands on this, “2021 has widened the consumer pool for any entrepreneur who has a concept to monetize, this time last year the consumer base for a new service or product would have been smaller, owing to those who didn’t need to shop online.”
Entrepreneurs El Khabbachi and Watts have developed the understanding that 2021 is the year to look closer at your interests and passions and find a way to bring them to market. By simply following a tumultuous year of change and uncertainty, 2021 presents itself as a year where anything can happen. We are entering the year with a greater understanding of the fleeting nature of possibility, now is the time to trust in yourself as an entrepreneur and push your passion past the point of being just an enjoyable pastime.