Have you ever considered starting out on your own? If you’re a present-day millennial, then chances are, you have probably thought about running your own business at some point in your life thus far.
You see, according to statistics, 66% of millennials have a goal to start their own business. Why? Well, it’s possibly thanks to the rise of influential millennial entrepreneurs such as Mark Zuckerburg (founder of Facebook) and Sean Rad (co-founder of Tinder) who have made massive waves in the world, enjoying public acclaim and monetary riches from their ever-growing endeavors. Starting small, Mark, Sean, and many other millennial entrepreneurs before and since have proven that it is possible to create a business and hit the big time. Do you want to grab a piece of the proverbial pie that they are eating? Many of us do, with aspirations to become the next big thing ourselves.
While startups are nothing new, it is thanks to the examples of today’s influential entrepreneurs that are causing a new revolution in today’s generation. And while we have highlighted the opportunities for fame and fortune, there are other reasons why millennial’s today are looking to start out on their own. We will examine them below, so while you might want to become the next Zuckerburg, know that there are plenty of other incentives to encourage you into the startup revolution.
#1: You can escape the 9 to 5 rat race
After seeing their parents climb the corporate ladder, with all of the time-consuming restraints and stresses that this imposed upon them, today’s millennials want a greater work-life balance. They don’t want to spend all of their lives at work, spending hours in the office, and reducing their free time because of the travails of the daily commute. They want jobs that afford them greater flexibility, with more time to enjoy life outside of the everyday working environment. And for all we know, this might be true of you. If you’re tired of the 9 to 5 and dream of a better life that gives you more time to spend with your family and friends, then you have two options. Firstly, you might want to find a job that allows you to work remotely. Secondly, you could start out on your own, and work hours that you have set yourself instead of working ‘for the man.’
Of course, we aren’t saying running a business is easy. If you want to grow your business, you will have to put the hours in. However, when you work is up to you. If you prefer working evenings to daytimes or working at weekends instead of weekdays, then you should be afforded the opportunity to do so. And if you employ others, outsource regularly, and adhere to productivity tips, you might be able to manage your time, so you aren’t working every hour of every working day.
#2: You can make a difference to the world
Today’s millennials don’t want to be bystanders in the world. They are driven by purpose, with the desire to be an active participant in the world they live in. They care about social injustices and want to make the world a better place for others. They care about climate change and want to pave the way for a better future to protect Mother Earth. And they want to have a voice; raising it when given the opportunity so that they can be instigators of change. So, beyond fame and fortune, and beyond the need for a greater work-life balance, do you have the same heart? Do you want to make a difference to the world, giving hope to others and bettering their lives? If so, then starting your own business could be the logical way forward.
Let’s think about the type of business you might begin, for starters. Rather than setting something up that only befits your needs, think about the needs of others in your community. Is there a problem with homelessness? If so, you might set up a business that specifically supports them, perhaps with your own soup kitchen. On the other side of the divide, are you concerned about obesity rates? Because of the rising levels of obesity, there is a high demand for personal trainers and nutritionists by those looking to improve their health and fitness levels. Could you set yourself up as a freelancer in either position? You might also set yourself up as an online fundraising consultant, raising funds on behalf of charities and causes. Or you might create a betterment program, setting up a business that will support the unemployed, for example. There is much you could do, so start to think about the issues that directly give you cause for concern.
Let’s also think about green matters. If you are currently working in a job that contributes to rather than reduces problems in the environment, then starting out on your own is one way to make a difference in this area. You might base your startup idea around global concerns, perhaps by starting your own recycling business or acting as a freelance green ambassador helping other business owners green up their companies. Or you might run any kind of business, but taking steps to be environmentally friendly, perhaps by allowing your employees to work from home, and using sustainable materials when buying your office equipment and supplies.
Running your own business will also give you credibility in the community you work in. By establishing yourself as a business leader, you might have a greater voice at community meetings and in the local media. You can speak up for the needs of others, suggest ways in which social changes can be brought about, and write articles that will make an impact on those who read them. No longer will you be the little guy without a voice; as a respected business leader, people might start to take notice of you and the things you have to say.
As a business leader, you can support the needs of your community in a variety of other ways. You might create a product that helps homeowners or business owners. You could help with your town’s unemployment problem by taking on more workers within your community. You could give your employees the chance for a better work-life balance by allowing them the option to work remotely. And you can support local charities through sponsorship programs, and by giving a share of your profits to the causes in your area.
In so many ways then, starting your own business will give you the opportunity to make a difference in the world. If this is something that matters to you, above and beyond financial gain and personal acclaim, let this be an incentive to start out on your own.
#3: You can pursue your passions
Going back to work-life balance, it is the goal of many millennials to have more time for the things they enjoy in life. Rather than spend most of their waking hours at work, they want the flexibility to engage with their hobbies; those activities that offer the opportunity for fun and creativity. If you have ever resented the lack of time you have in your life to engage with your hobbies then, it might be time for you to consider starting your own business.
On a very basic level, if you are able to create your own working schedule, you will have more time to focus on your passions in life, whatever they might be. Be it alone or with family and friends; you can manage your time so you can follow your hobbies without work getting in the way.
On the other hand, you might also start a business that is based around your hobby. Do you enjoy photography? You could hire your services to others for weddings, christenings, and other special events. Do you have a passion for writing? You could go freelance, copywriting for local businesses or by earning money from your blog. Do you enjoy cooking? Then why not consider starting a catering business, be that by setting up your own food establishment, or by hiring out your services to others. And thinking about anything you might create yourself, from cupcakes to fancy knitwear, you could also start your own eCommerce business, selling your wares online. Check out these other home-based business ideas, and pay special attention to those that are tailored around your personal interests.
Today’s generation is sick and tired of the 9 to 5 rat race. They want a greater work-life balance, with more time for fun and less time in chore-like activities. Caring for the environment is a goal of many, as is the option to make an impact to the world in other ways. And yes, having the option to make big money, as demonstrated by today’s millennial entrepreneurs, is also of primary concern for some. Consequently, we are in the midst of the startup revolution, where needs can be met, and people can live a life that is a cut above that lived by previous generations. Do you want to be a part of it? You know what you need to do if so!