Millennial Entrepreneurs: Thriving and Changing the Game
Gone are the days when millennials were just kids: now we are all grown-up and we are starting to build careers and families. But for us, the American dream is not the same as our parents’. We want more from life and we want it different! Millennials are changing the fashion world, the job market and the real estate market. We are also changing the way we save for retirement. The business world is starting to listen to the millennials and marketing strategies are now focused on generation Y, which opens up a lot of new opportunities for millennial entrepreneurs.
Thanks to the way they were raised, millennials have a lot of unique skills that help us succeed in entrepreneurship. As expected, millennials are attracted to those fields where they can innovate and radically change how things are in the present. Here are some of the areas millennial entrepreneurs are thriving.
A future for audio-related startups
Not long ago we were used to small headphones and large music players; nowadays we carry tiny music players and large headphones. Audio technologies are one of the areas where millennials have a lot to say, mainly because they are the generation that grew surrounded by cables and (not so) smart devices, which allowed them to listen to their favorite tunes.
Our parents read newspapers, we are now reading the news on the internet, but we both listen to radio, so this old technology is also becoming one of the main fields millennials are investing in. If we look at the way music is now a marketing tool focused on millennials, we clearly see a future for audio-related startups.
Emoji are becoming a new language
It’s clear that millennials have their own language, but this new language is not underground anymore: it’s becoming mainstream. Generation Y is the first generation who managed to make their own communication channel a mainstream language. More and more brands are starting to advertise their products directly to millennials, using emojis and coined phrases used by generation Y to communicate.
If you are still in denial, think about the fact Moby Dick was recently translated entirely into emoji language. This new language is clearly offering a lot of opportunities for millennial entrepreneurs, so we might witness the rise of a completely new way to communicate.
Education is getting more personal
Millennials had seen the major problems in the educational system and they are determined to change the system. And there is a lot to change: despite millennials being the most educated generation, they are simply buried in student loan debt, which limits their financial capabilities a lot.
Apart from this, many believe in a different approach to education, a lot more personal and a lot more focused on the student and his needs. Because generation Y is proficient with technologies, they are introducing the digital medium in the academic medium. This is how we come to see special class headphones, educational apps and tablets in schools. Millennial entrepreneurs know how to benefit from the new technology in their struggle to change the educational system from its roots.
Freelancing is becoming the future
Freelancing was not for everyone, but millennials are making it a long-term career opportunity. Despite all the controversy surrounding the sharing economy and the viability of freelancing, millennials are investing in this trend.
The globalization is going to allow freelancers and digital nomads to thrive, so we are going to see more and more remote businesses owned by millennial entrepreneurs. From a productivity perspective, being able to work on your own hours, from your chosen environment is increasing your work power, so freelancing is going to bring benefits to all economies.
Millennial entrepreneurs are thriving in various industries, including audio technology, emoji communication, education, and freelancing. As the generation that grew up with digital technology, millennials are finding ways to transform traditional industries and create new markets. The future is bright for millennial entrepreneurs who are using their unique skills and experiences to drive innovation and contribute to the economy.