Entrepreneurship is Everywhere
Our parents’ generation revolved around making an average amount of money at an average desk job, stereotypically being a plain desk with beige cubicles, everyone enjoying and loving the world of beige. Millennials splash through that stereotype with a new one of their own, a burst of colourful personalities wanting the most out of life in the shortest amount of time. Unlike our parents, we know what we love and if we don’t get it or see it in the market, we’ll build it ourselves -- and then sell it online to a waiting audience of millions.
Millennials shop for experiences and for the feelings we get from our purchases, but we also buy what’s new and hip in the market. If there’s something that we have in common with the generation before us, it’s that we want what everyone else has. Except, instead of it being a brand new lawn mower, it’s a new set of headphones.
Why are millennials taking over entrepreneurialism?
Because we’re not afraid to fail.
Be as it may, our parents may have been the ones who told us that we can be whatever we want (and we took it seriously) and to try everything once (even if that was trying to get us to try cabbage for the first time), but they didn’t really take their own advice. Yes, we know that there are many entrepreneurs who have been around even before the oldest millennial was born, but it seems that it was something many people shied away from; that fear of the unknown, of not having a steady income, was not a comfortable area.
Plus, more millennials live at home into their twenties than any other generation, so we can afford to fail a bit more, because our parents are there to keep us going financially.
Because it’s easy.
Thanks to online markets making it easy for start-up businesses to make a name for themselves, small companies are popping up everywhere. Many of these businesses are led by creative minds that see a niche in the market that no generation before has noticed, and companies, like Matthew Mullenwag’s Wordpress, are conquering markets. Even Etsy, founded by on the fence millennials, is creating open doors for small, crafty, creative businesses. Crowdfunding opened up a whole new world for businesses; GoFundMe and Kickstarter found a need, the need for money, and gave small businesses a chance to find small and private investors for their startup companies, each offering their own uniqueness.
Because We Thirst for Success
Millennials are no longer happy to just work the same job every day, never being very happy and never making it up the corporate ladder. We enjoy change much more than our parents do, and the thought of having unlimited income inspires us. We’d rather be our own boss than to answer to one, especially if that boss is from another generation that doesn’t quite understand our workplace needs. The idea of working at home and on our own schedule also energizes millennials.
The market to millennials is one that almost every company is adjusting to get the attention of, and this attention is so valuable that some millennials are finding their way into the market with their own entrepreneurial inventions.
A couple examples of companies who have made big adjustments for millennials are:
Netflix: A well-known name in every household and on every smartphone, Netflix has evolved from a simple DVD rental company into a full out force to be reckoned with, streaming into the hearts of every watcher. The makers of Netflix knew what we wanted and they were there to give it to us before we even became aware of it, and they took over the industry.
Coca-Cola: Who doesn’t want their name on a bottle of Coke? The “Share a Coke” campaign was a successful move for the soft drink giant. Along with the free Spotify downloads, many people have grown a tie with Coke that they didn’t have before. Unless your name is completely out there, chances are you’ll find it on a Coke.
Where do you see the future of entrepreneurship heading now that the final wave of millennials are entering the workforce?