Millennials tend to believe in the impossible and are the biggest reason for changes in our corporate culture. They’ve been exposed to some of the most difficult challenges from the economic frontiers. In tough times, their resilience has proven that this generation has an overall positive attitude towards life. Some millennial business owners have also survived through a wave of recession which taught them certain valuable lessons about availability of funding options.
In reality they are not attracted by short-term profits but aim higher than monetary gain. They wish to instill long-term relationship with clients and address their needs without significant delays. From a marketers end, In comparison to the baby boomer generation, they don’t desire a status quo and climbing the corporate ladder does not charm them anymore. Millennial entrepreneurs are starting more businesses than their previous generations. But what really makes them different? We are about to focus the traits of the much talked-about generation.
Who Are Millennials?
The Millennial generation in between the age groups of 16 to 34. In a book called "Trophy Kids" by Ron Alsop, it is highlighted how various young people have been rewarded for minimal accomplishments (such as mere participation) in competitive sports, and so as a result they have unrealistic expectations of working life. They are also criticized as “generation me” which is a title depicting their self-obsession, and self-centred image.
In reality, this generation with the potential entrepreneurial abilities and mindset are truly interested in contributing towards their society and are more about giving than expecting. The millennials in their teen and youth might appear lazy and technology-dependent but they are also the problem-solvers and caring just like the kids 30 years ago. Most of the times, the stereotypes defining millennials are over-stretched way beyond reality.
Why Millennials Pick Entrepreneurship?
“Millennials Could Be the Most Entrepreneurial Generation Ever” American Express
“60 percent of Millennials consider themselves entrepreneurs, and 90 percent recognize entrepreneurship as a mentality.”
Britt Hysen, the editor-in-chief of Millennial magazine
All that is not just a co-incidence. This generation was raised with inventive skills. Besides being the most diverse target markets in history, it has a collection of problem-solving minds. Despite being predictable, marketers think it’s a challenge to engage with millennials. But we will highlight the prime characteristics of the millennials, including what defines their way of thought, and defines the lifestyle an average millennial is likely to be leading today. Check out this video that elaborates top 7 traits in millennial entrepreneurs.