Photo credit to Simplificamos Su Trabajo
Over the past few years, Members of Generation Y, also known as Millennials, have been characterized by the media as being the ‘worst generation ever’. Whether it’s the stereotype that Millennials are entitled or privileged to the generalization that they’re disloyal in the workplace, critics of Generation Y point to several facts: The Bureau of Labor Statistics notes that, “Individuals born from 1980 to 1984 held an average of 6.2 jobs from ages 18 to 26.”;
meanwhile, University of New Hampshire management professor Paul Harvey notes that Generation Y has a, “very inflated sense of self.”
The real face of Generation Y however, is that of the entrepreneur. Sarah Rose Attman, president of Sarah Rose Public Relations says, “[Millennials are] energized and full of ambition. Being in our twenties, we’re not old enough to be jaded but also not young enough to be disempowered.This can be a huge advantage for aspiring entrepreneurs looking to jump head first into a startup.” And while there may be a sense of self-entitlement among some Millennials, this drive may also be used to successfully drive a small business forward.
It’s also clear that even the negative stereotypes facing Millennials are not entirely accurate. It’s possible that Generation Y individuals are loyal, provided that they see potential for success.
Bruce Tulgan of Rainmaker Thinking notes that, “Younger, less experienced workers are, in a strange way, more in sync with the reality of today’s economy than other generations because they’ve never known it any other way…I think that if you don’t trust the system to take care of you in the long run, you walk in the door looking to your immediate boss to take care of you in the short term.”
The alternative for Millennials is of course, to be their own boss. The primary challenge that Generation Y entrepreneurs face however, is a lack of funding for their endeavors. Zoe Barry, CEO of ZappRX, raised one million dollars with the right attitude.”Visualize success — if you believe you can do it, you will do it. I never said ‘if’ I raise money, I always said ‘when’ I raise money. It was never a question of ‘if’ for me,” said Barry in an Entrepreneur Magazine article.
Overnite Capital believes that Generation Y is less the ‘Worst Generation Ever’ and more the ‘Entrepreneur Generation’, and aims to provide the cash flow needed. Find out more today, by calling us now or fill out a contact information form!