We, Millennials want praise for our achievements. We are not perfect, but we play an important role in different spheres of life. If you believe The Millennial Generation Research Review, made by the U.S Chamber of the Commerce Foundation, you will know that Millennials influence the market strategy a lot. Moreover, Millennials prefer to start their own business.
“This is becoming a normal trend and millennials choose this path to prove their efficiency and to utilize their money for a better cause,” exclaimed Issa Asad business owner and entrepreneur since 1996. Mr. Issa Asad is the CEO of 2 companies: Q Link Wireless and Quadrant Holdings. Both companies are located in South Florida.
The Kauffman Foundation’s Young Invincible Policy Brief reveals that only in 2011, Millennials started 160,000 businesses every month and twenty percent of these entrepreneurs were among the age group of twenty to thirty-four years old. There are many reasons of this development. Here’s why millennials should become entrepreneurs.
1. They Take Risks
As an entrepreneur, you have to be confident to admit that you are not scared of taking a risk. This confidence helps entrepreneurs to contribute for the fulfillment of the other’s dream and to make their success as a stepping stone for others. This is not about one generation only; many successful entrepreneurs follow the same policy as they have the ability to deal with the negativity successfully. In the past, people are mostly dependent on the public sector for pension and social security, but now that trend has changed. Currently, millennials are taking all the measures to secure their future.
2. Social Networking
In the current conditions, social networking has a big role in the success and failure of any of business. Boston Consulting Group’s 2011 report disclose that millennials are more capable for using the advanced and developed technologies. They know how to use these technologies and how to utilize them to make progress in their business. Around sixty percent millennials prefer to produce and upload online content. This number is high in comparison to non-millennials as their number is only twenty percent. Social media is effortlessly working to create new platforms for the entrepreneurs so that they will be able to get the opportunities to use these networking to make progress in their respective field. Entrepreneurs use social media to promote their business and to lure the prospective customers.
3. They Like Making a Difference
Usually, Millennials truly respect people. They do not hesitate to contribute for the betterment of them. They like to inspire and participate in the success of non-profit organizations. They make policies to utilize their money for the development of poor. Some popular brands such as Headbands of Hope and TOMS have established a giveback model to help the needy.
These reasons are why Millennials should become entrepreneurs. David Karp, Mark Zuckerberg, and Peter Cashmore are the name of three booming entrepreneurs who have used social networking sites to get their success in their business.
