Why do more and more younger people start running businesses?
Business Marketing with Nika
59 replies
I have my hypothesis but I want to know your 2 cents. πͺπͺ
More and more people around me (maybe at the age of 17 or so) are trying to run businesses. I find them more ambitious compared to my age group or elderly age group.
Why is it so?
Here are my assumptions:
β previous generations were more oriented on family,
β this is the era of hustle, financial freedom (quitting the corp world),
β is it a kind of Flynn effect of awareness & intelligence?
Lemme know your POVs.
Replies
Azlan Tariq@azlan_tariq
I think theres lower barrier to entry now compared to before especially with so many tools available on the internet to start your business with, plus social media is also so powerful in creating this mindset for people.
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@azlan_tariq @andres_rosas_sanchez what's your tax rate? Our is somewhere at 25% but it differs with increasing income.
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@azlan_tariq The internet has changed this era, true. And with AI we will be having more patience because we are so keen to have things at the moment done.
Another question stemming from my thoughts: Will the younger generation be less "skilled" in manual work?
@busmark_w_nika Yes i feel like they will be but learning and general information about all skills will be so accessible that they would'nt need to be that skilled i guess
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@azlan_tariq My opinion is that when we do not train some ability, we lose it. So need to either learn it (longer process) or hire somebody (will be more pricy with rarity).
@azlan_tariq At least in Spain, this is not the case. Yes, there are many technological advancements. But the taxes that we have in Spain for entrepreneurs are huge and definitely a barrier for many young people.
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@all_appp_games it is good to try sooner and sooner experience disappointment. Then you are more armored later in life. :D
I think this generation is pretty competitive. Plus, working a 9-5 job is often seen as dull and ordinary, and nobody wants to be just ordinary.
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@udaya_sri the last generation cherishes more adventurous things + explores or comes up with something new. I am amazed at how fast (and the yearly age) they want to achieve something.
@udaya_sri they see working a 9-5 job as dull and ordinary, so they opt for working 24x7 with their own business LOL. Sorry for this comment, I just feel that owning a business means literally working round the clock.
@natalia_toth I agree. But I didnβt mean to say that business is easy and a 9-5 job is hard. I was just highlighting how popular hustle culture has become.
@udaya_sri Yes, most office work is quite monotonous. This generation, because of their exposure to more knowledge, wants to make a difference for themselves.
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@udaya_sri @natalia_toth I need to correct you. There are people who work like 27/9 :DDD
Carril Workspace
Inflation, abundant information and tools
I believe the younger generations are inspired by digital influence, seeking purpose and freedom, driving their ambition to create and innovate.
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@some_vish What our ancestors had? To be less-business-oriented?
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I believe a major reason is access to information and technology. Young people today have endless resources at their fingertips, making it easier than ever to learn, launch, and grow a business. This access empowers them to act on their ambitions at a much earlier age.
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@hamza_afzal_butt yeah, it is a kind of inspiration when they can see people from the other side of the world succeed... so when they do, why not us?
@hamza_afzal_butt @busmark_w_nika As we age, we may find that we don't have as much energy as we once did. The experiences that were once valuable to us have gradually lost their significance in the face of an ever-increasing volume of resources. Competition is fierce, and itβs harder to find an edge. However, the lessons we've learned are far more diverse than those of younger people. I believe this diversity of experience is worth exploring.
@hamza_afzal_butt Its not about access to information and technology. Many generations back when people had no access to information and technology that time younger generation was ambitious to do something big.
@hamza_afzal_butt @busmark_w_nika @kamjin Absolutely true, younger people have more energy and they are passionate to do something extraordinary.
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@hamza_afzal_butt @kamjin it is a kind of approach of certain people, some of them still cherish what they have learned. The situation changes and you can find helpful your knowledge maybe 20 or 30 years later because you will find out that "ah, I know this.. that learning from 5th grade I can use right now) :D
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FlowLayout
Its simple. People want to have fun. Working for incumbents is boring. More or less. Β―\_(γ)_/Β―
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@sentry_co the worst possible scenario is ending up doing what you hate and standing behind the vision you are not aligned with. π
FlowLayout
@busmark_w_nika Exactly. as such. Maintaining happy employees is your biggest challenge. It has to be apart of the over all strategy or you will get a team that stray, and you will fail.
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Instagram Reels and TikTok are doing their best with the "hustle" culture.
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@vaibhavdwivedi do you mean influencers who are trying to solve this concept? aka gurus?
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@busmark_w_nika "Appearing to be solving this".
I think a lot of younger people have realized they don't need to take the traditional "long route" of building themselves out for years until they hit an age where they're "ready" to start a business. Not everyone needs to climb the ladder to get to their end point.
For many people, college is no longer a necessity - if you're already working in the industry you want to be in, why go to four years of school if you can already keep building your professional experience? Why put off getting a job or starting a business if you already have the ability to succeed? I think a lot of the younger generations have accepted and embraced expediting their professional career by just jumping into ventures, rather than waiting.
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@jack_lipsky1 you are right at some points. At some points you need to have (due to law and rules of countries) university, e.g. doctors, judges etc. But I know what you want to say. :)
@busmark_w_nika Oh of course! There are many, many professions that require formal education and training! I was thinking in terms of the ever-expanding tech/digital media space there are a lot of successful, autodidactic entrepreneurs.
I can absolutely agree, I would never want to go doctor who picked up his knowledge from Youtube!!
I think it's because of the accessibility of information and social media. There are so many people out there talking about their successes and then also offering education that it attracts more people.
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@nathancovey thinking about it... in my teens I was trying to do certain things only because of photos on social media. :DDD you are right.
More and more young people are starting businesses because they realize they can turn their creative ideas into reality and call it "work." Plus, who wouldn't want to swap out dress codes for hoodies and late-night brainstorming sessions? They're in it for the freedom.
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@giorgi_khatiashvili2 I am pretty curious how labour market will change during these years and what new positions will replace the old one.
Being younger, I also enjoyed being your own boss. Working for anyone may make life stressful and bound. It's currently the era of entrepreneurs.
IXORD
I believe that young people have been around technology all the time and they are already starting to see more prospects in this area.
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Definitely, the internet and social media have made it way easier for younger people to start businesses nowadays compared to before. So many tools and resources available online to get a business up and running quickly. Plus, seeing other young entrepreneurs crushing it on social media is super motivating and makes it seem more achievable. Lower barriers to entry across the board for sure!
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@christopherdavidanderson it is also about individuals, some young are not motivated to achieve things but in general, they are more into business.
For me personally,
First is freedom, you can do whatever you want
Second, AI is changing the world. With the help of AI, personal productivity can be greatly improved, and a few people can create great products.
Third, it has passion, challenges, high risks and high returns, I like this.
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@busmark_w_nika It should be that the younger you are, the more fresh and passionate you feel about new things, leading to more enthusiasm and drive
@busmark_w_nika
Is it possible that you were the most relaxed and happy when you were a kid? I feel like childhood was simpler, but now everything is so complicated. I want to get back to a simpler way of living
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dropshipping
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@haider_technical that one was quite popular 2 years ago on IG :D
Young people, driven by ambition and with fewer responsibilities, are more willing to take risks. In contrast, older individuals, burdened with greater responsibilities, tend to avoid risks. If they had taken chances and failed, their motivation to try again might have diminished.
I believe that the great wave of entrepreneurs is due to the changing times we are experiencing.
There is already enough technological and social evidence to affirm that the world is changing, and we, as young people, are the ones who must and are taking the initiative to shape the new world that is emerging.
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@andres_rosas_sanchez what about the generation after that youngest one? How do you see them? :)
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