More and more millennials are successfully starting businesses. This new wave of entrepreneurs is between the ages of 20-35, and they are cleverly using their age to their advantage to take over the business world.
Being young does not mean forever being an intern — millennials are finding they can create businesses of their own and make a decent profit. Millennials are becoming successful at younger ages because they have started launching their business ventures earlier than previous generations. The average age is 27, while the average Baby Boomer launched their business at 35.
The most famous millennial entrepreneur is arguably Mark Zuckerberg, who, during his sophomore year at Harvard, launched the website that became Facebook. He found success young, and while his brilliance at computer science played a significant part, his choice to take the initiative is what ultimately started his business.
Millennial and famed beauty guru Michelle Phan launched her YouTube channel in 2005 with a natural makeup look tutorial. Since then, she has gathered 8.9 million subscribers, and most of her videos get 20 million views. Phan also has become a keynote speaker and created her own makeup line all thanks to the initiative she took in starting a YouTube channel.
What are millennials doing differently?
The internet has also made it easier to start a business. Since millennials have grown up with social media, Google and hours of downloads, they have become experts at creating websites and curating content. By doing so, they know how to market themselves attractively to gain sponsors and views.
Millennials also find success early on because they understand their age group and the power of social media. Who knows better how to market to millennials than millennials? Entrepreneurs often strike up a conversation online to find out what millennials are looking for in a company. The direct connection millennials have to people their own age can be immensely beneficial to ensure the growth of their company.
But the biggest reason I think my age group is finding success younger is that we take better care of our mental health, which leads to higher productivity.
Millennials are obsessed with self-care and self-preservation. NPR states that “more millennials reported making personal improvement commitments than any generation before them.” The Pew Research Center conducted a study in 2015 about millennials’ self-care spending. They found that the previous generation, the Baby Boomers, are the gloomiest generation. This gloom is from the pressure of saving money, buying a home and having children. While we might laugh at millennials for spending money on therapy and avocado toast, the pressure to fulfill society’s dream of what you’re supposed to do is gone, leading to happier millennials.
Millennials are one of the happiest generations, and with their internet proficiency, it makes sense that they have become entrepreneurs.
Millennials are becoming more successful at younger ages. This could be due to the creation of the internet and the readily available information it provides. Or it could be because millennials are finding happiness through non-traditional means and choosing to work on projects that they are passionate about. Personally, I have seen my friends challenge their parents and traditional societal expectations in pursuit of their dreams.
Hopefully, millennials’ choice to redefine success and leverage their age as an asset will be an inspiration for future generations to live for themselves and pursue their own goals. Millennials are often called “lazy,” “unmotivated” or “unwilling to work.” I guess these wildly successful millennial entrepreneurs prove the old saying: do something you love, and you’ll never have to work a day in your life.
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