Why Generation Y Makes For Ruthless Entrepreneurs With the help of the internet and social media, this is possibly the best and easiest period in history to become an entrepreneur.

By Zaki Ameer

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Shutterstock

In recent years, Generation Y has taken a significant amount of flak for their seemingly "lazy' approach to life. Often branded as "entitled' and commonly known to display a pathetic work ethic involving limited input yet expecting big rewards, Gen Ys generally have had a pretty bad reputation when it comes to work. However, I couldn't disagree with this belief more.

On the contrary, the Gen Y is breathing new life into entrepreneurialism, especially in Australia. This generation is the most educated, and well traveled in our history, and has grown up with the latest technologies at their fingertips. Gen Y does commonly display an intense amount of confidence. However, as an entrepreneur, this has proven to be a valuable trait to embrace.

With the help of the internet and social media, this is possibly the best and easiest period in history to become an entrepreneur- one with more opportunities and endless possibilities. Here's my favourite reasons why Gen Ys make for ruthless entrepreneurs:

1. They have limitless opportunities.

Most of Gen Y could maneuver their way around the keyboard before they had even started school, and it is their intuitive tech knowledge which has opened up their business opportunities. This generation now has effortless access to high up contacts in their field through apps like LinkedIn, and they have the confidence to go out on a whim to make these connections. Gen Y has the world at the tip of their entrepreneurial fingertips; the World Wide Web is their key to access global networking potential.

2. Taking risks comes naturally.

Gen Y knows how to push the boundaries and they aren't afraid of the consequences when it comes to taking a risk. This is something Baby Boomers were raised not to do by their parents, who just touched the edge of the Great Depression. The Baby Boomers were taught that it was better to live a secure life, rather than Gen Ys who live a passionate risk-driven one. With taking risks comes great responsibility and this generation is welcoming this with open arms. What some might consider an insurmountable task, Gen Ys have the guts to charge ahead without fear of failure.

3. Own a "no time to waste' mentality.

Being a generation filled with impatient ambition seekers, Gen Y has no time to be anything but ruthless. They will not wait for opportunities like their parents did. Instead, they seek out and secure prospects, and if there aren't any available, they will make opportunities for themselves. Gen Y isn't interested in what they can do tomorrow, they are interested in what they can do today. With this mentality comes the notion that things can change in the blink of an eye, which is another reason why it's important that this generation embraces change rapidly and enjoys doing this differently.

4. Aren't afraid to ask questions (and lots of them).

A questioner himself, Albert Einstein once said "the important thing is not to stop questioning. Curiosity has its own reason for existing." What's more, the old saying "Curiosity killed the cat' couldn't be further from the truth. On the contrary, questioning is the key to why Gen Ys thrive as ruthless entrepreneurs. Being open to asking and answering questions leads people down the positive path of finding solutions rather than only seeing problems, and enables them to ask why something can't be done better or why hasn't it been done at all?

5. Strive for impact and purpose.

Gen Ys feel strongly about why they do things, and strive to have a strong purpose in their lives. Mostly Gen Ys are motivated by the potential to have a significant and positive impact, ideally leading to great change.

Related: Comparing Old School Practices With Millennial Outlooks On Starting A Business

Zaki Ameer

Founder of Dream Design Real Estate (DDP)

Zaki Ameer is the Sri Lankan-Australian founder of Dream Design Real Estate (DDP), who since 2012 has assisted almost 800 clients to purchase over 1,000 properties, becoming a self-made multimillionaire. With one staff member and earning just AED 75,000 in its first year of operation, six years on DDP enjoys an annual turnover of over AED 38 million with the support of twenty employees across the company's Australian and UAE offices.

Money & Finance

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

Too many entrepreneurs are counting too heavily on a company exit for their eventual 'win.' Do this instead.

Side Hustle

I Started a Semi-Passive Side Hustle That Earns $33,000 a Week on Amazon: 'Selling There Is a No-Brainer'

Dr. Jenny Woo wanted to create a product that would help people connect, and it turned out to be a lucrative one.

Finance

"We Got Funded!" Tunisia-Born Clusterlab Secures US$600,000 In A Pre-Seed Funding Round With The Aim To Advance Arabic Artificial Intelligence Tech

ClusterLab is on a mission to revolutionize how Arabic content is created and consumed by leveraging the power of artificial intelligence to ensure it is more accessible and engaging for users worldwide.

Travel

8 Rule-Bending Travel Hacks That Help You Fly Like a Boss

A newly nomadic entrepreneur shares his tips to be more comfortable without spending that much more.

Business News

Compass Agrees to Pay $57.5 Million to Settle Real Estate Commissions Lawsuits

The class action lawsuits accused Compass of violating antitrust law and conspiring to overcharge U.S. home sellers.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.