The Entrepreneurial Spirit of Millennials
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It’s an age of startups, Gen Y or millennials, who are known to make headlines for several things like their lifestyle, trends, careers, handling finances and savings, are the ones also known to have nimble feet, reaching out for everything new. Another thing the millennials are also known for is their entrepreneurial practices. Every passing day number of young entrepreneurs are entering different sectors with their novel and exceptional ideas.
Hard-wired with innovative concepts in terms of business and technologies, the generation is risk-taking, adventurous and always ready to snatch opportunities. Their entrepreneurial mindset is so strong that they are even ready to forsake their regular, well-paid and stable jobs, and opt for their desired startups woven with the threads of their visions. Talking about millennials’ inclination towards startups, Vivekananda Hallekere, a millennial himself, who has co-founded Bounce and currently operate as its CEO, says, “Millennials are a different breed of humans, who believe in knowing and exploring things on their own. They don’t like to own things, be it a home or a car. Settling down is not much of an option for them which means they take and are more ready to fight risks. And this is helpful for the startup ecosystem.”
Getting out of Comfort Zone
But what excites them to join startups forsaking their stable and secure jobs? There are a couple of facts to reason this. Individuals with the spirit of an entrepreneur can’t just drop any opportunity where they can shape a business on their own with their sweat and blood. So, soon after saving an ample amount of money, millennials venture out on their own with the business they desire to run. Their ‘never settle’ and risk-taking natures help them more. Also, startups have the essence of being one’s own boss that is hard to ignore.
Millennials are always looking for something new and challenging. So, after a while of working and holding on to their jobs, they often gear up for the highly challenging venture – their dream startup.
The emergence of several innovative startups over the last few years shows how much innovative ideas the millennials have put forth across different sectors. This has not only helped the entrepreneurs and their companies to thrive, but also enhanced the buyers’ consumption rate, giving them an array of options to pick the products of their choice. Nilesh Shah, the CEO of Envision Capital, sides the Gen Y as he explains, “It is almost impossible to imagine start-ups without millennials. To dream, aspire & execute, start-ups need talent which is enterprising & energetic and this is pretty much the DNA of millennials.”
Like many, who had set out for their long yearned entrepreneurial journeys, Abhay Hanjura, the co-founder of Licious, embarked upon a journey of his own at the age of 28, when he had everything perfectly lined up career-wise. The lure of entrepreneurship came calling in. He states, “I knew I was ready to test my hypotheses. For me to take an entrepreneurial plunge when I was at the pinnacle of my corporate career was a big surprise for my family. The scepticism was magnified when we decided to pursue our entrepreneurial ambition in the meat sector.”