8 Brutal Truths about Millennials that Determine The Success of Every Business
Richie Norton
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I’m a Millennial myself. This is just a fluff piece full of the old stereotypes about millennials that have been distilled and magnified from one small group of one specific type of millennials.

#1, #2, #6 and half of #3 are the same point: Millennials can work from anywhere. That may be true if the job really does require only a computer with Internet (many jobs require more than that — labs, expensive equipment, physical locations), but it’s also true of anybody. Gen Xers and Baby Boomers are just as capable of working from anywhere if you give them a computer and an Internet connection and their job only requires that.

#6 doesn’t make any sense statistically.

Yes, 99.7% of the businesses in the U.S. are small business with fewer than 500 workers. But small companies with fewer than 500 workers only employ 48.4% of the workforce, and business with fewer than 20 workers only employ 17.6% of the workforce. Most people actually don’t work for small companies; most people work for medium to large companies. Besides, even if you reasoned that you would probably work for a small business (which is false), why would you then jump to “I should just start one anyway!”? The skills that make someone a good employee don’t necessarily make them a good CEO or founder.

Anyone who looks at a *median* salary and thinks they are going to max out at $60,000 failed high school algebra. A median is the *midpoint;* it literally means 50% of people make over that.

Also, I hope no millennial thinks that a $60,000 salary at a large employer means the same thing as making $5,000 a month as a freelancer, because there’s such a thing as self-employment taxes, health insurance, and business expenses. It’s generally understood that freelancers need to make 1.5 to 2 times what you make as an employee to break even because of all the money you spend on expenses.

Also, few freelancers are doing anything that easily attract 5 clients that will pay you $1,000 a month on a regular basis. This is especially true of millennials, who generally have 5–10 years of work experience in the industry or less.

Contract work can be great but it’s not necessarily better than being an FTE. First of all, only certain jobs qualify for contract work; you can’t just choose to make a job a contractor position. There are laws about that.

Second of all, not working in a cubicle is not ‘the highest form of payment.’ Money is. Depending on the kind of work, that millennial might end up having to pay for a coworking space or at least a hotdesk and Internet connection anyway. A software developer is going to be writing code at a desk no matter whether she gets a W-2 or a 1099 at the end of the year.

And a “few hundred bucks a month” is a lot of money. I have excellent health insurance I pay nothing for that would cost me at least $600 a month on the open market. $600 every month is nothing to sneeze at!