Millennials may not have all the experience that their parents have, but they have already figured out that traditional career options are no longer safe (or exciting). This is the reason why more and more of them are thinking of becoming creators of their own future by getting involved in business activities. The good news is that technology and the current state of the market have made this task much simpler than before. Thousands of millennials are becoming entrepreneurs every year. They have realized that entrepreneurship brings many benefits that are especially important to this generation – like the opportunity to become your own boss, the flexibility, the chance to become someone, to earn more and many other benefits. But, let’s be clear – being an entrepreneur is not always a smooth sail and a high percentage of startups cease to exist after a year or two. This is the reason why every millennial should stick to some tips and advice that can help them succeed.
Many millennials believe that they have figured out everything. Being self-confident is an excellent thing, but being overly confident can create more harm than good and this is exactly why many millennials fail as entrepreneurs. Keep in mind that even if you have finished college, this doesn’t mean that your time for learning new things has stopped. You need to be prepared to learn new things all the time and you need to do this fast because the things are changing. Luckily, we have access to the Internet and we have computers and mobile devices close to us. Some statistics shows that more than 90% of millennials use their smartphones to access the Internet almost on a daily basis. (1) This is a simple way to stay in touch with the latest news and trends and to learn new things.
Some people say that millennials are a little bit selfish and alienated from their peers. We know that it is hard to tell whether this claim is true or not, but one thing is for sure – entrepreneur millennials must be prepared to create new connections, use and strengthen their existing connections and learn how to communicate in the right way. Once again, you can use the latest technology to speed up this process. There are specialized social media networks like LinkedIn that can help you a lot. (2) In addition, you should also attend events, trade fairs and other special occasions where you can meet new people and potential partners/clients.
Effectiveness and efficiency can exist together
This is a common dilemma between millennial entrepreneurs – should they focus on effectiveness or efficiency. The truth is that these things can (and should) exist together. We all need extra time, but we should also remember that the most efficient way is not always the most effective way of finishing things.
Finally, don’t forget that as a millennial entrepreneur, you should always stay eager and curious. Keep creating, keep introducing innovations and keep learning and you will succeed!