Tech Centered Millennials Can Be Great Entrepreneurs

Do MILLENNIALS Make the Best ENTREPRENEURS? Many people believe MILLENNIALS have the entrepreneurial mentality without the experience (and guts) to be LEADING ENTREPRENEURS Agree or Disagree? FACTS ARE FACTS Entrepreneurship is lower among Millennials than it is for GEN XERS AND BABY BOOMERS *According to the U.S. Small Business Administration (SBA) Office of Advocacy 7.6% 8.3% Millennials Generation X Baby Boomers 2014 SELF-EMPLOYMENT IN THE U.S. What factors are adding up to cause this shift for the MILLENNIAL GENERATION? *According to U.S. Council of Economic Advisers Overwhelming DEBT 89% 77% Increase in the average balance size held by student borrowers Increase in student borrowers 2004-2014 No more chasing the Perilous undertaking? AMERICAN DREAM NO THANKS! *According to U.S. Census Bureau Data "According to the Global Entrepreneurship Monitor (GEM) $4 10% DECREASE 10% INCREASE in homeownership among Americans age 25-34 in Americans 25-34 that report fear of failure kept them from starting a business 2004-2015 2001-2014 This means NO EQUITY TO BORROW for ENTREPRENEURIAL VENTURES now or in the future Though MILLENNIAL CONFIDENCE is on the up-and-up as FEAR OF BUSINESS FAILURE DROPPED 7% from 2013-2014 MILLENNIAL ENTREPRENEURSHIP today may be lower than previous generations, but those STARTING BUSINESSES are making it count! Millennials May End Up Being the GREATEST ENTREPRENEURIAL GENERATION EVER · Just THINK about it FOR A MOMENT... Digital natives have the upper hand in our TECH CENTERED WORLD Ding! Blah! The on-demand, plugged-in, MILLENNIAL GENERATION is influenced differently than previous generations and molded by GLOBAL HAPPENINGS IN REAL-TIME SMARTPHONES have provided improved TECH REŠOURCES over the last 10 years Blah? Ready-made DISTRIBUTION PLATÉORMS allow for quick tests of ideas, e.g., Etsy, Ebay, and Amazon "CROWDFUNDING" has enabled entrepreneurs to raise capital from online sources rather than relying on traditional sources like banks to grow their business – Independence is more important than Creative freedom is the key to A CORNER OFFICE REAL HAPPINESS *According to a 2014 Bently University Survey 67% 13% 37% of MILLENNIALS report their goals involve starting THEIR OWN BUSINESS report their career GOAL is to climb the corporate ladder to become CEO/PRESIDENT of MILLENNIALS surveyed want to WORK ON THEIR OWN MANAGING OTHERS ISN'T AS IMPORTANT as finding inner fulfillment Flexible hours and work life balance FOSTER PRODUCTIVITY 77% 89% of Millennials with smartphones are “always on" and regularly check email outside of the 9-5 of millennials say that flexible work hours are a key to boosting productivity within their generation *According to a 2014 Randstad survey Reaching the end goal is Collaboration and uniting around PRIORITY #1 GREAT IDEAS ROCKS Obligatory life and CAREER PATH set up by the BABY BOOMERS isn't going to cut it in the 21st century REAL-WORLD BUSINESS 69% OF Millennials want to and ENTREPRENEURIAL MILLENNIALS want WORK WITH OTHERS KNOWLEDGE to be enabled by their colleagues to WHO VALUE GREAT goes hand and hand with a degree WORK ETHIC as much do their best work as they do Making a difference in the world IS HUGE 79% 57% of Millennial employees who volunteered through a company-sponsored initiative felt they made a positive impact of Millennial employees want company-wide volunteer opportunities *According to the 2015 Millennial Impact Report *According to the 2014 Millennial Impact Report Purpose OVER PROFIT *According to the Deloitte Millennial Survey 2016 YYX) 87% 73% of Millennials believe that the success of a business should be measured by more than just its financial performance hold business in high regard and believe it has a positive impact upon wider society Since 1985, ENTREPRENEURSHIP CLASSES on the university level HAVE INCREASED 20X, so educational exposure is at an all time high for Millennials Now is the time to TAKE THE RISK–because who wants to sit in a cubicle until retirement! SOURCES entrepreneur.com/article/271972 sba.gov/sites/default/files/advocacy/Millenial_IB.pdf bentley.edu/newsroom/latest-headlines/mind-of-millennial whitehouse.gov/sites/default/files/docs/millennials_report.pdf fi.fudwaca.com/mi/files/2015/07/2015-MillenniallmpactReport.pdf millennialbranding.com/2014/geny-genz-global-workplace-expectations-study inc.com/magazine/201505/leigh-buchanan/the-vanishing-startups-in-decline.html casefoundation.org/wp-content/uploads/2014/11/MillennialImpactReport-2014.pdf sbc.senate.gov/public/?a=Files.Serve&File_id=0D8D1A51-EE1D-4F83-B740-515E46E861DC cnbc.com/2016/04/28/millennial-entrepreneurs-driven-by-purpose-as-much-as-profits.html theatlantic.com/business/archive/2016/07/the-myth-of-the-millennial-entrepreneur/490058 babson.edu/academics/centers/blank-center/global-research/gem/documents/GEM%20USA%202014.pdf deloitte.com/global/en/pages/about-deloitte/articles/gx-millennials-shifting-business-purpose.html#report business.com/company-culture/how-are-companies-changing-their-culture-to-attract-and-retain-millennials kauffman.org/multimedia/infographics/2015/infographic-millennial-entrepreneurs-and-the-state-of-entrepreneurship ONLINEMBAPAGE.COM DEVELOPED BY N NOWSOURCING %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24