In the world, every year a lot of businesses come up which are almost the same number every year with millennials occupying the largest portion. It is worth noting that millennials do not include every young person as most people fallaciously think but to only those born between 1981-1996. This class of entrepreneurs comprises those young persons who have been working and have left the jobs to change for entrepreneurship, those who are still in their undergraduate program ready to complete the program and start businesses and those who are in the initial stages of their career. Millennial Entrepreneurs have made great changes in their practice of entrepreneurship as analyzed below.
The Predecessors to millennial entrepreneurs did not embrace technology as with the millennial entrepreneurs since most of them attended computer classes during their early education levels and during their college days social media was budding with Facebook made for college students. This means that they get into business knowledge to do everything with a computer meaning that their businesses involves a lot of technology and it is not surprising to find them creating some social media advertising of hand made goods.
Millennial Entrepreneurs are more optimistic than there Predecessors in that they have a great strength of taking risks at hand even for opportunities that seem to fail.
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.
Baby boomers have no business tricks such as those used by millennials to promote their businesses by paying off days, health insurance and other benefits that make them feel that they have some value.
In older customs, official workers must have an official code of dressing, but for millennials they allow workers to be casual with their bosses a bit relaxed to allow them to feel comfortable.
Millennial Entrepreneurs have been credited for being themselves in their activities and use unique styles to promote their activities.