Why are millennials encouraged to build a business? Before diving into the question, let us first understand who and what millennials are.
If you were born between 1982 and 2002, then you are one of the millennials; that includes yours truly. But there are those who say Millennials are those born between 1980 and 1995. Well, as the debate on the date range continues, let’s just say millennials are those with the characteristics mentioned below.
Millennials grew up in a world where technology is a necessity. They grew up in an environment where being “social” meant having access to the Internet and more recently having a Social Media account. If you don’t have one, then you’ve got to create one. If you don’t have one, then you don’t exist. Social media is a big thing… and so is technology as a whole!
But what do millennials got to do with putting up their own businesses? Why are they encouraged to build a business in 2017?
Here are a few reasons that you’ll find interesting – and maybe even motivating:
The Millennials Are Not Afraid Of Taking Risks
Millennials are young and passionate. They are willing to take risks in starting their own businesses, whether it is an online business, offline business, a sole proprietorship or cooperation. They want to follow their passions and make their lives better, so they take chances. Millennials are self-entitled individuals. They want to do things their way, and they want to be praised for their successes. They take risks and are not afraid because the benefits often outweigh the failures.
Nowadays we have so many options available and the chance of you being able to build a business online to test your abilities and the market you are offering services to is quite high. With almost no risk you can start a consulting business such as CAD Services, Application Development or Website Design.
Using social media, you can start to market your services for free to generate leads and turn them into paying clients. Work with customers on a one-on-one basis to get a better understanding of their needs and their expectations. And ask each and every one to refer you to someone they know who can use your services.
As you develop your business week over week and month over month, you’ll be able to understand the gaps within your business and how you can improve them by either providing additional services or expanding your business, or growing your team.
The Millennials Work Well In Teams
Generally speaking, Millennials want to achieve more. By working in groups or teams, more can be accomplished. Millennials understand this, and they welcome opportunities for joining communities or groups where they can contribute something to make a difference in the world.
Because Millennials want to make a difference – and not just any difference in the world but a difference that makes life better – they tend to be very innovative. If you want an example of “difference for the better” takes Mark Zuckerberg. Look at what he did with Facebook!
Using Mark Zuckerberg as an example, this shows how millennials can be unique individuals with talents yet also great team players. Without a team, less can be accomplished, but with the right team, an ordinary business can become extraordinary.
The Millennials Are Tech-Savvy
Millennials were born in the computer era. Because of that, we’ve learned to use the computer and the internet better than the older generations did. Years ago, a five-year-old child would stare at a cell-phone and think it’s a toy.
Today, you show a smartphone to a three-year-old, and he’ll want to play Candy Crush!
Being tech-savvy is very advantageous to millennials. Through their tech skills, they can learn almost anything from the internet. They can learn how to edit photos, create fantastic videos, write great blog posts, or build websites.
The Millennials Treat Life As Work And Work As Life
The older generation would prefer a separate time for work and a different time for family and other personal agenda. But Millennials see work as both personal and professional. Why is this good for their business?
Think about it this way – because Millennials value their personal lives, they will also appreciate their businesses. In other words, their business is their life and vice versa. There are, of course, good points and bad points to this, but millennials are running their businesses with this mindset will mean excellent quality service and incredible success!
From Engineers to Entrepreneurs: Building a Business
Engineers of this generation have learned to think on their feet and execute plans rapidly. This is one of the top qualities of the most successful entrepreneurs. To go from being an engineer to a successful entrepreneur you need to be able to plan fast and execute faster. You must develop success habits and daily routines.
Going outside of your cubicle and venturing into the unknown world of entrepreneurship requires you to be flexible and have the ability to solve problems. It takes a lot of tries, a lot of time needs to be dedicated for you to become proficient at this.
The first year as an entrepreneur will be tough. When I started my first business back in 2012, I lost everything within the first four months, and I struggled for another 6 to 8 months to just get back on my feet. I spent a few months backpacking from one city to another and sleeping on one bed to the next.
I remember paying between 75 and 100 dollars per month to sleep in a broken room that had nothing but one bed. Life was tough, but one thing that I took with me everywhere I went was my laptop, and my resilience and mental toughness to not give up on my dreams, and I kept moving forward and working on implementing my coaching and mentoring ideas, specifically for engineers.
The secret to going from being an engineer to an entrepreneur is not to give up so easily and continue on your path to the end. It will be scary, but you’ll be ok as long as you understand that fear is a growth indicator and a sign that you’re stepping out of your comfort-zone, which is absolutely necessary and normal. Stay passionate and use your engineering ingenuity to help others who have problems that you can solve.
If you feel stuck in a 9-to-5 job, perhaps you want to build a business on the side. Sit down and write down your goals and create a plan that supports your passion and then define your career and your life around that passion.
Don’t rush it. It takes time for you to go to different cycles, to learn and try, and to fall down and get back up to try again. It took me nearly 2 years to fine-tune my engineering coaching program and create really good results when I coach engineers who were actively looking for jobs.
If you ever get stuck, don’t change your goals, rather change your plan to reach that goal. Collaborating with others is a great way for you to keep the progress moving forward. Distribute the responsibilities and duties of your business or company among others, and feel comfortable with asking for help. I know I could have done a much better job at asking for help back then; now I collaborate with as many people as possible.
If you have an idea, find other people who share the same passion as you and can help you develop that product or service. Execute your plans accordingly and weather the storms. Expand your network every day and build your confidence. Entrepreneurship is not easy however when you successfully become a business owner your life will be in your control, and you will see the best version of yourself. Happy and healthy, and you will never want to work for someone else again.
Entrepreneurship is living a few years of your life like most people won’t so that you can spend the rest of your life like most people can’t. Will you have the courage needed to become an entrepreneur?