Despite the negative backlash they’ve been receiving for being entitled, sheltered and self-absorbed, millennials are believed to be the most entrepreneurial generation. According to Fortune, the new generation of entrepreneurs aptly called “millennipreneurs” have launched twice as many businesses as boomers and are already outperforming their parents.
Based on the findings of the new survey called 2016 BNP Paribas Global Entrepreneur Report, millennipreneurs, aged 20 to 35 years old, are launching more companies, targeting higher profits and managing more employees than their predecessors. Compared to boomers, millennipreneurs are discovering entrepreneurship much earlier than the boomers.
BNP Paribas global head Remi Frank said: “Before, you needed to be 40 or 50. Then it was 30 to 40. Now it’s 20 to 30. This is a trend which is obvious everywhere. Of course it’s linked to the new technologies, but it’s also a change in the world, which [now] accepts that you can be the CEO of a big company or own your own company at a young age.”
1. They want to do work that matters.
Rather than just making a living, millennials are concerned about making a life. Compared to older entrepreneurs who are more focused on making higher income, millennipreneurs want business with a larger purpose and offer products and services that matter.
2. They are optimistic.
Self-assured millennipreneurs believe they will succeed and they are willing to go the extra mile for it. Being optimistic is an essential trait for successful business owners as they can see past negative circumstances. Moreover, positivity brings out the best even in other people. Optimistic entrepreneurs can lead an energized team willing to do extra work for success.
3. They are constantly connected.
Millennials are often criticized for their addiction to technology and social media. As “native speakers” of social media, millennipreneurs can take advantage of this to market goods and services and get their message across.