Millennials have an undeserved but often-repeated reputation as being entitled. Unwilling to pay their dues. Spoiled. Reckless. Impatient. Lazy. It’s a likely bet that every generation hurls such epithets and accusations at the generations that come after, but sometimes it seems like every economic problem is the fault of millennials. That mindset is a shame because not only does it do a disservice to the millennial generation, it also ignores the fact that today’s business owners and entrepreneurs are the true risk-takers and innovators in the business world.
As business owners, millennials are motivated and motivational, not to mention ambitious. What older entrepreneurs see as impatience is simply a game plan, as a high number of millennials who own businesses look to the future. They want to build their brand, grow their business, and create a long-lasting financial legacy they can pass down. They’re already trying to take care of the next generation.
To reach these dreams and to make people aware of their brand, millennials are more willing to take risks when it comes to finances, marketing ideas, and sales techniques. They’ll take on a viral marketing campaign, advertise on social media, and gamble if they believe in an idea. They’re optimistic, but they have the courage, the recklessness of youth, and the know-how to work for their optimistic aspirations. They aren’t afraid of taking on debt if they believe the payoff is worth it.
What does this mean for consumers? It means that they might want to put aside their notions of what it means to be a millennial. For the small business owners themselves, it means they should observe their millennial brothers and sisters instead of listening to the rhetoric stacked against them.
