In every year many businesses start in the world with no exception of the United States and with millennials outnumbering the baby boomers since most Entrepreneurs are in the age range of millennials. Those people born between 1981-1996 makes the class of millennials, but most people do confuse it with every young person who is wrong. This class of millennials is made up of the people who are in their early stages of their career, those in the university waiting to join the business and those who have been working but are now looking for a change in business plans. In this article we want to see the ways in Which millennial entrepreneurs are different from their Predecessors.
Millennial Entrepreneurs have adopted the great use of technology because they grew up in the time technology was already high with some of them having undergone through computer classes, and social media was budding during their college days, for example, Facebook was initially for the college students. With a lot of technology at hands, they can out compete the baby boomers and some gen x members since they enter into the workforce knowing to do everything with a computer or a smartphone.
Every business has two options, either to fail and succeed, and actually millennial entrepreneurs do not consider failure as their portion because they are very optimistic compared to their Predecessors.
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.
Millennial Entrepreneurs understands that in today’s economy, you should not be fixed but to be open-minded for new opportunities. 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.
Millennial bosses have a kind of relaxed, casual dressing when not in the presence of clients, and they can allow workers to work in the office with casual dressing so that they can fell a bit comfortable.
Although millennial entrepreneurs share common traits; every person has their unique ways of doing business.
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