1/29/2019
Millennial Entrepreneurs
Millennial Entrepreneurs
The term “Millennials”, describes the generation born between the early 1980s and the year 2000. These are the decades in which technology had the fastest, most influential growth and impact throughout history. Because of this, the 80 million people that pertain to this generation are naturally inclined to adapt well to the huge shift in our society towards technology. Having grown up at a time where all of these changes were taking place, millennials are very technologically savvy. They are, therefore, huge assets not only in the workplace, but also in the way the world will operate in many ways in the future.
Society as a whole has already been undisputedly altered by the creativity and inventiveness of millennials. Some of today’s largest companies in the world were not only founded by millennials, but have influenced people worldwide. Their ideas and products have changed how individuals, enterprises and societies communicate, share information, market themselves and choose their lifestyles. It is truly revolutionary and will most likely be noted as one the most influential generations.
Some well known millennials to lead this movement are:
Mark Zuckerburg – Creator of social media site Facebook
David Karp – Creator of blogging platform Tumblr
Ben Silbermann and Evan Sharp – Creators of content sharing site Pinterest
Brian Chesky – Founder of lodging rental site Airbnb
Daniel Ek - founder of music streaming service Spotify
Evan Spiegel and Bobby Murphy - The founders of photo sharing app Snapchat
Millennials continue to make waves in the workplace, no matter which industry they choose. However they are showing a tendency to prefer certain sectors over others. Technology is obviously the favorite, but close seconds are finance and healthcare. Positions in nursing, business analysis, accounting and corporate finance are attracting millennials. Industries that seem to be losing interest for millennials are retail, government, education, nonprofit and media.
Aside from these established sectors, millennials are known for recognizing a need or demand and for creating a niche sector that becomes highly successful. These startups have all taken off successfully from their launch, most to sales in the range of millions of dollars. For instance, recognizing the preference of organic food and the increase in food allergies and intolerance, 21-year-old Daniel Katz founded his startup, No Cow in the year 2015, a company tailored to create products such as protein bars, cookies and nut butters that are sugar-free and dairy-free.
Another in demand niche dominated by millennials is influencer marketing. A technology driven group highly engaged by social media would easily be able to create and invent software and products to engage consumers. Nathan Barry for instance, created his company called ConvertKit, an email-marketing tool for professional creators, designed to increase their consumers across various social media outlets.
Siqi Mou founded consultation company, HelloAva, which works with individuals to determine a personalized skin-care regimen based on information provided by the client and a photo. The idea came to her during her college years after failed attempts and wasted money trying to find the right skin care products to suit her. HelloAva provides a consultant to research through the numerous third party skin care lines available to find the perfect products to suit each client’s needs. The company profits a percentage of the products purchased by the client.
Another revolutionary way of providing a service was initiated by the founding of DotCom Therapy, a company based online that provides various therapies such as speech, occupational and mental health services. The concept has been well received, as millions of dollars in services have been booked worldwide.
Millennials will continue to revolutionize the ways we shop, communicate, are entertained, travel and so much more. Many more inspiring startups are surely in process, about to change society in ways we haven’t even thought of. It will be interesting to see what 2019 unveils!
