See How Millennial Entrepreneurs Are Different From Their Predecessors
In the world, every year a lot of businesses come up which are almost the same number every year with millennials occupying the largest portion. Most people confuse millennials to every young entrepreneur, but it refers to those born between 1981-1996. They represent the class of individuals who have been working and are ready to leave the workforce for change, those in the university and those in the early stages of their career. Millennial Entrepreneurs have made great changes in their practice of entrepreneurship as analyzed below.
The first difference millennial entrepreneurs have to their Predecessors is their great use of technology since during their school days some could have computer classes and social media was budding during their college days. This means that they get into business knowledge to do everything with a computer meaning that their businesses involves a lot of technology and it is not surprising to find them creating some social media advertising of hand made goods.
Most people fear to make great but risky investments but not for millennials, they have a gut of risk-taking understanding that if they succeed it is for life and if it has to fail that is business, and actually they have a lot of faith in themselves because you cannot know whether you can win unless you try.
It is true that not every millennial can do the marketing, but at least most of them have the knowledge of how it is done and those who are not very good in it can sit in the office and do online advertising and selling which is not common with their Predecessors. Millennial Entrepreneurs cannot compete with their Predecessors because they can easily learn their opponent’s tactics and counterattack them as they learn things for themselves without training.
Against their Predecessors millennial entrepreneurs have their minds flexible and ready to accommodate new changes especially to suit the demands of technology and be at the top always. Millennials have adopted the use of virtual staffing where staff members work from different parts hold meetings, discussions, and presentations without everyone availing him/herself in person.
Most millennials has been exposed to entrepreneurship if not by traveling by social media and are able to motivate their workers for example by paying them time off, maternity leave and other benefits such as movies nights and casual dress days to make workers feel that they have some value in this company which is not common with baby boomers.
In older customs, official workers must have an official code of dressing, but for millennials they allow workers to be casual with their bosses a bit relaxed to allow them to feel comfortable.
It is worth noting that although all millennial entrepreneurs share a lot, every single millennial entrepreneur has their different tactics of handling business activities.
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