We are living in times when entrepreneurship is all the rage, and starting one’s own business is more viable than joining somebody else. This is partially due to the inclination of the younger generation to carve their own path, and partly due to the massive entrepreneurial scope that exists in the present day market.
The Entrepreneurial Spirit of Generation Y
Millennials are bashed in articles, reviews, publications and opinions everywhere, when it comes to the current state of the economic landscape, and the part that millennials play in it. For the most part, older generations are the ones doing the bashing, and in almost all the cases, Generation Y is portrayed as the weakest link in the financial chain that connects the global economies.
In addition to that, the entrepreneurial spirit is also targeted, and deemed wasteful
However, said bashing does not take into account all the positives of being a millennial entrepreneur, and all the advantages that a millennial entrepreneur has over older generations.
Three Advantages that Millennial Entrepreneurs Possess in 2017 and Ahead
To that end, following are 3 advantages that you, as an entrepreneur and member of Generation Y, possess over your older counterparts, and in the market in general.
1)Potential for Unlimited Exposure
The internet, and now the cloud, has blessed younger generations with the wisdom of the ages, in the literal sense! Today, a younger graduate can potentially gain more exposure within the global business landscape than even the most prolific older CEO, in a matter of months.
Multiple media outlets provide not only hands-on training and guidance, but also offer to assist with the initiation and progression new business ventures. This exposure makes the millennial entrepreneur a force to be reckoned with, especially when it comes to possession of industry knowledge and expertise.
2)Creativity and Drive
Let’s face it; this generation is more creative than all the previous ones combined! While market saturation and the subsequent lack of employment opportunities in some sectors has led to a lack of drive among young hopefuls, there is still enough creativity to be channeled into separate ventures.
With a number of venues demanding a solid creative mindset and innovative tendencies, younger entrepreneurs have no shortage of creative outlets.
If there is one area where the millennial entrepreneur excels, it is the access to and subsequent usage of technology to achieve operation ends. The cloud has had a major part to play in the technological superiority aspect, since a startup does not need to hire office personnel, as a number of processes can be completed remotely.
I addition to operational ease, entrepreneurs of today also have access to technologies that are geared specifically towards them. Said technologies have incidentally been launched, for the most part, by fellow millennials, thereby bringing the technological and innovative prowess full circle.
In 2017 and ahead, the entrepreneur is expected to reign supreme, especially when it comes to market share and diversity. This, combined with the changing philosophies of the younger generation towards a more progressive future, will make the millennial entrepreneur perhaps the most valuable asset for the global economy.
April Salsbury, MBA is a strategist, an analyst, an operational guru, a recognized leader and C-suite global healthcare executive with drive and focus for competitive markets. Co-host of The Business Forum Show and regular contributor to various business journals, she possess multi-functional and multi-national competencies with more than 15 years experience in business and healthcare. Her expertise is in invigorating revenue growth and infusing value of lean practices in growing companies through improvements to cash flow and operations management.
Fueling revenue, growth and profit, Salsbury & Co. is a consultancy firm focused on helping businesses and healthcare organizations achieve excellency. Our specialists have executive experience combined with deep functional expertise to provide our clients with services that drive real impact and results.
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