Those born after 1980 and before the 2000s, known as millennials, are the largest generation in the United States. Millennials account for one third of the entire U.S. population. According to other generations, that means a third of the population is lazy, narcissistic and entitled.
That isn’t true.
The YOLO generation is truly poised to take advantage of the one life they have to live by being the most entrepreneurial group in history. Perhaps narcissism and entitlement drives them: This is a group that believes in themselves, believes in going after what they want, and believes in creating what they want if it doesn’t already exist.
That’s why the age of the entrepreneurial millennial is here.
Millennials Know Millennials Better Than Anyone Else
Millennials are the first generation to grow up with the Internet at their fingertips. They utilize technology faster and better than any other generation. As technology advances exponentially, older generations admittedly have a hard time keeping up, let alone advancing ahead of millennial consumer and societal needs. Who better to serve the needs of the millennial generation than the millennials themselves?
Everyone knows Facebook was created by then-college-student Mark Zuckerburg, but did you know that he is just one of dozens of teens who made their first million before the age of 20?
Millennials know how to use social media to their advantage, often becoming rich or Internet famous through platforms such as YouTube and eBay.
Millennials Take a Bespoke Approach to Networking
Forget your tired and lackluster annual conferences; millennials are true supporters of developing young business professionals, and go out of their way to create opportunities for one another. The drive and success of the millennial generation can be attributed to collaboration.
Millennials are the CEOs of tomorrow, and they’re very aware of the skills, creativity, and hustle that drive Generation Y forward. They’re also able to cultivate engaging and mutually beneficial relationships through genuine interaction. Think thoughtful connections and face-to-face follow up.
Millennials Value Creativity More Than Previous Generations
A poll featured in the 15 Facts Economic About Millennials report, by the Council of Economic Advisors, suggests millennials are shown to favor creativity far more than previous generations. Other important factors they look for in the workplace include seeing results, interesting work, opportunity for advancement and earnings potential.
This desire for creativity leads millennials to solve their own problems by generating solutions in the form of new technology and new ventures. If millennials find a need, they are also bent on finding a way to fill it.
Take millennial entrepreneur Jessica Issler for example. She had a penchant for high fashion, but a shoe-string budget. Jessica figured she wasn’t the only fashionista to feel this way, so she opened a store of her own that featured high fashion style at bargain-basement prices. Jessica didn’t just stop at one successful store. She opened up an entire chain called Dainty Hooligans and expanded into online retailing.
Starting a Business Is Easier Than Ever
For many millennials, it’s clear that older generations don’t understand the way millennials think. Some suggest that they don’t share the same passion for creativity and risk taking, but they are still the gatekeepers (i.e., running banks and handing out business loans).
In true entrepreneurial fashion, millennials have found a way around this and created a new way to gain access to startup capital. It’s called crowdfunding.
Meanwhile, launching an e-commerce company and a website is easy and often free. Whether you are designing a blog or a store front, anyone with decent computer skills can set up a website. Numerous retail outlets such as Etsy and eBay make it fast and simple to set up an online store within the confines of an already highly trafficked site.
These days you don’t have to have a fancy degree in graphic design to create professional looking logos and advertising materials.
When you combine their knowledge, mentality and desire for startups it makes sense that millennials would be the most entrepreneurial generation in recent history. One Time magazine article asserts: The Millennials Will Save Us All.
With everything millennials have accomplished this early in their lives, it is easy to believe that even if they don’t save us, they will undoubtedly shape the future for us all.
This article has been edited and condensed.
Savannah Flynn is a public relations specialist and online marketing enthusiast writing on behalf of WebpageFX. She is devoted to staying on top of the latest online marketing, social media and public relations trends. Connect with @WebpageFX on Twitter.
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