Wherever we go, we see a bunch of millennials thriving in their own respective niches.
Talk about Mark Zuckerberg, Kylie (you know, the lipstick and all the glamorous drama), Gerard Adams of Elite Daily, David Karp of Tumblr and yeah, Michelle Phan, the Asian YouTube guru who now has her own makeup and beauty company —these are all modern entrepreneurs-turned-millennial-heroes who have marched their way towards success.
Clearly, millennials have changed the industry landscape and while they all got a bad rap of being entitled and self-absorbed, it is still very evident that this entrepreneurial generation actually wants to work hard and make a name for whatever the f*ck it’s worth.
So, what makes millennials the best breed of entrepreneurs?
Let us count the ways.
- Millennials are independent, “let’s be flexible” kind of workers.
For a lot of reasons, millennials hate the 8-5 office work. Unlike the other generations whose fortune cookie revolves around some desk job with a steady salary, millennials think that the independent life is so much “cooler and happier.”Instead of sitting in an office waiting for hefty mandates, millennial entrepreneurs work their own hours, grind at their own pace and try to set up a career-life balance through a curated day-to-day routine. This way, they become more productive and value-driven (Asghar, 2014).
Supporting this claim is a survey done by Bentley University in 2014, suggesting that millennials believe that career success will require them to be more nimble, independent, flexible and entrepreneurial. An impressive 77% of millennials noted that they prefer a flexible work schedule to be most productive. They want their own time for things as this is key in boosting efficiency.
The same study says that a lot of millennials actually see being a CEO or president as a life goal. These views have led millennials to explore entrepreneurship as a path towards finding greater happiness and fulfilment.
- Millennials always want to explore out of the box.
Millennials are always curious and experimental. They are constantly searching for answers to questions or problems or sometimes, they just want to ask more.
Why don’t we develop systems to connect people? Now we have all kinds of social apps.
Why don’t we create a place where everyone can work? And so, we have co-working spaces.
Why aren’t we wearing bold makeup colors?
Why can’t we integrate advocacy with business?
Simply put, millennials don’t just settle with the status-quo. They want radical, quick changes that sometimes can be a bit risky but most of the time, work best for them. Their curiosity pushes them to try and explore things out of their comfort zone leading to some innovative outcome.
- Millennials are tech-lovers.
Now we know that millennials did not need to adapt to all these kinds of technological evolution because, yes, they grew up in it. It is a huge part of them. Their inclination to getting things done quickly make them work hard to find all sorts of tools, computer programs or apps that will give them fast results. They are also quick adapters to new technology which make most of them whiz kids.
- Millennials adapt quickly.
Not only are millennials accepting of new technologies, they are also skilled to adapt quickly to all forms of changes. While other generation resist these differences and modifications, millennials are keen to learn new things and immediately use them for all the modern-age requirements.
Because of this skill, millennials are able to use various resources to cope up with challenges, address diversities and use changes to their advantage.
- Millennials work with a purpose.
Millennials are modern-day advocates. A recent survey by Gallup (2017), says that millennials want their work to have meaning and purpose. They want to use their talents and strengths to do what they do best every day.
When millennials don’t like what they see, they fix it. This is because millennials treat their work as part of their lives. They know their purpose and mission not just for themselves but to others as well.
- Millennials love the hustle.
Millennials have all the energy in the world. They don’t just work, they multitask. They can accomplish a bunch of things when they are on it and they just love being everywhere. They can talk to multiple individuals online, set deals straight through emails and seal partnerships in just one call.
- Millennials know life isn’t just about making money.
Of course, who doesn’t wanna get rich? But a millennial’s take on life is all about passion and goals. Every individual from this generation doesn’t want to have an 8 to 5 job that pays well but really, to work as if he/she is not working at all.
Clearly, we can see that the millennials’entrepreneurial inclination is a huge factor in today’s changing environment. They’re young, driven and the creativity in this generation is outpouring. With all the upcoming industry innovations alongside the growing potential to alter and solve many of the existing world problems, millennialentrepreneurship is poised to continue rising.
New business ventures and some out-of-this-world ideas? This breed of clever souls got you covered!