Are millennial entrepreneurs different from others before them?
After growing up in a world masked by recession, financial struggle and unemployment, millennials are finding their way through in an economy that is still battling limited jobs. Surprisingly, this situation has shaped millennials to think and lead differently. Unlike those from the previous generations, the definition of success is viewed differently by millennial entrepreneurs. What separates them from those before them?
Here are a couple of pointers that throw light on what’s different about millennial entrepreneurs:
1. They’re entrepreneurs:
The traditional route to finding success and climbing the career leader is not what excites millennial entrepreneurs. The ease of being their own boss and enjoying better control of their finances is what has prompted many millennials to plunge into launching a small business or pursuing an atypical career.
2. Millennials bank on work-life balance:
The previous generation would generally stick out at a firm for decades, even if the work or the company fails to nurture their real passion. Millennials don’t use this to measure success. What matters to millennials is their ability maintain a great work-life balance. A schedule which permits them to chase personal interests and provides time for vacations is one of the biggest requirement for millennials. They look to chase experiences over big paychecks.
3. Millennials see a half-full glass:
Even amidst uncertainty, millennials are most often cautiously optimistic about their business. Over 57% of millennial entrepreneurs emphasize that they enjoy a loyal customer base and see their revenues grow. Their positive drive does not end there. Many scout for ways to boost their marketing efforts, while enjoying higher profits.
4. Reliance on cloud technology:
The amount of flexibility that cloud technology offers is hard to miss. With great access to a plethora of applications, enabling a business on cloud technology has made the operations simpler, and smoother. Many millennials bank on cloud technology to operate and grow their businesses.
Bringing it all together:
While millennial entrepreneurs are a breed of their own, their outlooks on businesses are unlike many preceding them. With a different take on running their business, millennial entrepreneurs have seen their startups tick.
