Are Millennials More Entrepreneurial? One Question. Different Data. Different Answers.
Posted On November 22, 2016
It’s interesting how you can come to different conclusions about an issue simply by which set of statistics you choose to examine. Take, for instance, the issue of millennial entrepreneurship. A Fortune article in February hailed the generation as “millennipreneurs,” noting that millennials had launched about twice as many businesses as Baby Boomers at the same age. Citing the 2016 BNP Paribas Global Entrepreneur Report, Fortune noted that millennial entrepreneurs were also starting earlier, starting their first businesses at age 27, as compared to 35 for Boomer entrepreneurs. But Forbes contributor Natalie Bacon cites research from the Kauffman Foundation, which… Read More
Categories: Entrepreneurship, Generation Y / Millennials, Work
The dreams vs. reality of young entrepreneurism
Posted On February 10, 2015
With the near-extinction of “the company man” in today’s workforce, more and more workers dream of taking control of their own destiny. Generational research from the U.S. Chamber of Commerce Foundation indicates that half to two-thirds of Millennials are interested in entrepreneurship. Yet a recent study conducted by The Wall Street Journal shows only 3.6% of professionals under 30 own stock in a private company, down from 10.6% in 1989 and even 6.1% as recently as 2010. So why doesn’t desire equate to action? Where to begin… Money is certainly a key factor. With Millennials coming into the workforce at… Read More
Categories: Entrepreneurship, Generation Y / Millennials
Millennials making their mark in small business
Posted On December 26, 2014
When Bank of America issued its semi-annual report on small business owners this fall, the focus was on generations, specifically Millennials. That may have surprised many of you right off the bat – Millennials are the youngsters, how do they have sufficient trends as small business owners? Remember, they aren’t all fresh out of college anymore (the oldest are in their early thirties), their parents are often Boomers who are ready to retire and pass down the family businesses, and they are very entrepreneurial as a whole. As with everything they do, Millennials are approaching business ownership differently. When reviewing… Read More
Categories: Entrepreneurship, Generation Y / Millennials, Work
Texting while driving…golf carts
Posted On August 14, 2014
Golf courses have a problem. Young professionals simply aren’t hitting the links with the same regularity as their Xer and Boomer predecessors. The New York Times reports that in 2013, only 22 percent of travelers under 33 played golf when they stayed at a resort, compared with 42 percent of baby boomers. And resorts are working hard to determine the best way to attract them. From the article: Resorts are … making changes that would have been unthinkable even a decade ago, adding speakers to golf carts and Wi-Fi access on the course, building high-tech training centers and miniature golf… Read More
Categories: Entrepreneurship, Generation Y / Millennials, Product Design
Search funds: a fast track to the boss’s seat?
Posted On May 29, 2014
I was listening to NPR the other morning, and this story came on during the Planet Money segment. It tells of two young Harvard Business School grads who turned down job offers to instead solicit search funds, where investors back individuals in their efforts to search for a new business opportunity. Not very different from a private equity group paying a salary to deal finders, but different enough to take notice. These are young folks, Millennials, with very little business experience. Also, they are not just looking for leads on businesses ready for acquisition; they are looking for businesses to… Read More
Categories: Entrepreneurship, Generation Y / Millennials
Millennial (not just Boomer) demands are creating new business opportunities
Posted On March 9, 2014
Aging Baby Boomers who don’t want to take on the typical retirement stereotypes have created demand for new businesses aimed at helping them address their AARP years in a whole new way. On the flip side of business, some Millennials are recognizing that their unique way of navigating the workforce demands some new ways of looking at business. Dan Friedman, the millennial founder of one such business, Thinkful, recently shared his perspective in Business Insider. In an nutshell, Friedman proposes that the loss of expectations for meaningful employee-employer loyalty has created a professional learning gap for today’s young workers. More… Read More
Categories: Baby Boomers, Blog, EntrepreneurshipMillennials – already leading the way?
Posted On September 17, 2013
We know they are the largest generation since the Baby Boomers and will have a significant impact on how businesses run in the future, but are Millennials already making leadership waves despite their relatively short tenure in the traditional working world? Recent research from Deloitte India seems to indicate so. As reported in Forbes, Deloitte India studied the work and leadership styles of Millennials in eight countries around the world. Of the 2422 respondents, nearly half held leadership positions. 50% of Millennials are in business leadership roles? Well, yes and no. It all depends on how you define leadership. For… Read More
Categories: Entrepreneurship, WorkplaceOut-of-Work Boomers Look for Alternative Careers
Posted On January 15, 2013
Following the Great Recession, most of the conversation about generational unemployment has focused on Millennials, who have the highest numbers out of work. But many Baby Boomers also lost jobs in the recession’s aftermath (second most among generations). Often higher-paid than younger colleagues, they were the first to go in many cases. Many of them have found that late-career unemployment has challenges that are different from being young and jobless. Too young to retire and too experienced for entry-level work, older Boomer workers tend to stay unemployed longer (55 weeks) than the rest of the unemployed (31 weeks). Boomers are… Read More
Categories: Baby Boomers, Entrepreneurship, Recession EconomyBaby Boomers Seek Meaningful Encore Careers
Posted On September 13, 2012
Many Baby Boomers are working past retirement by starting a second, or “encore,” career. Encore.org reports that 9 million Boomers have already launched their retirement careers. That’s about 10% and well more than the number of Boomers who have reached official retirement age. In their encore careers, Boomers are often looking to do something meaningful or “make a difference.” In that respect, they mirror Millennials who favor jobs that have a purpose or social conscience. Non-profits, education, and community work are obvious choices for meaningful work but Boomers are also finding meaning in starting their own businesses. Leading Edge (older)… Read More
Categories: Baby Boomers, Entrepreneurship, WorkplaceMillennials Turning to Entrepreneurship to Get Going
Posted On November 17, 2011
Millennials are finding it tough to crack today’s job market but are increasingly interested in entrepreneurship and start-ups as a way to get their careers going and pursue their goals. A new poll funded by the Kauffman Foundation shows that most Millennials want to start a business or already have. The numbers are even higher for Millennials minorities – over 60% want to or have launched an enterprise. Just 8% of Millennials already own a business – not surprising given their age – but another 11% plan to start one next year. Another 38% want to start a business but… Read More
Categories: Entrepreneurship