The New Entrepreneurs

IT is every parent’s hope that their children have a better future. For Generation Y, that future is more achievable than ever before — but it doesn’t come without its challenges.

Late last year, the Wall Street Journal published the findings of a study from Harvard, Stanford and the University of California. Stats showed that while in 1970, 92 percent of American 30 year olds out-earned their parents at the same age. Now that figure is only 51 percent. It’s easy to think of this as a black mark. But actually, I think this trend is just one in a series of developments pushing Gen Y to a destination they were heading already — to become the most entrepreneurial generation in history.

All generations have always sought freedom — the ability to work for whoever they want, the freedom to travel and integrate their work and personal lives in a way that makes it easier to spend time on whatever they want to do — and to not be stuck in the office from 9-to-5.

Each generation has come closer. But Gen Y isn’t just close; it grew up with mobile technology and social networking that keep us connected and more productive. Smartphones, collaboration tools and an ability to integrate personal and work lives are baked into the Gen Y mindset.

That technology changes mindsets. It changes the way you think. The promise of freedom is available, and Gen Y are running with it.  This shouldn’t surprise us. When you grow up with the internet as a normal tool, when YouTube is your primary source of visual entertainment and developers around the world are treated like rockstars, you start seeing connections between the technology you use and ways to make your life, and others’ lives, easier.

When they head into the world, Gen Y will have done all the hard work, making freelancing and entrepreneurship at a young age the status quo. For that, we should thank them. They’re showing generations to come that business can be done on your own terms.

We may have already had our “Greatest Generation.” But I think Gen Y is set to be our most creative and innovative generation yet and will help set the expectations for the future of our country and what it can achieve.

#Weareone — ARFIT Club

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