Featured image by Austin Distel via Unsplash
Over the past two decades, the way the world conducts business has changed dramatically. And who is responsible for much of that change? Millennial business owners, that’s who!
Gone are the days when most businesses had brick-and-mortar premises, saw clients in person, and sold stock in physical stores. Modern business is conducted mostly online and offers incredible convenience and efficiency.
Millennials seem to have embraced this new way of doing business better than baby boomers, Gen-Zers, or Gen-Xers. There are many reasons for this.
Image source: Wikipedia
For example, a turnkey e-commerce store is now one of the best business models offering lucrative financial returns and an exciting and fun way of earning a healthy living. Millennials have embraced this opportunity as no other generation has.
Let’s take a look at the advantages millennial business owners have in the 21st century:
1. Millennial Business Owners Embrace Streamlined Business Models
Gen-Xers, baby boomers, and Gen-Zers are more traditional in their approach to business. People in these age groups prefer to deal with customers in person and at physical business premises.
Millennials, however, have made a dramatic departure from this business approach. Instead, they have embraced new and innovative business models.
From making a lucrative living as an influencer on social media, to honing their skills by working remotely while traveling, to spearheading turnkey e-commerce stores, millennials have paved the way for a more efficient future.
RELATED ARTICLE: BLOCKCHAIN TECHNOLOGY AND THE FUTURE OF ECOMMERCE
Instead of experiencing many disappointing years at a job they hate, millennials are more proactive. They enjoy running their own businesses successfully.
With an affordable investment, millennials are discovering the many advantages of a turnkey e-commerce store. Since a turnkey e-commerce store is ready for business and transacting the moment it passes ownership, it’s an excellent option if you want to hit the floor running with a working business.
2. Millennials Have In-Depth Knowledge of Digital Media
Millennials are the first generation to grow up with the internet and social media.
This makes them very comfortable with conducting business online. They manage digital media marketing campaigns without a second thought. They’re comfortable with growing a social media account for their businesses.
Like it or not, digital media is here to stay and millennials definitely have the upper hand in this area.
3. They Cope Well with Adversity
The 21st century has seen a tough economic recession and, more recently the COVID-19 pandemic. These disruptions have changed the way people are working throughout the world.
To their credit, millennials seem to have taken the harsh reality of COVID-19 in stride. From adapting their business practices to embracing the work-from-home culture, millennials appear tough. They’re able to cope with whatever comes their way.
This is an excellent attribute to have, especially in the business world where the ability to bounce back from adversity shows resilience and strength.
4. Millennials Expect a Meaningful Way of Life
Millennials are unlike their predecessors who thought nothing of working 60-hour weeks, hardly ever seeing their families, and spending most of their lives at the office.
While millennials are certainly not afraid of hard work, they prefer to work smarter instead of harder. This way of working has been proven to yield the same results.
A turnkey e-commerce store is a great example of this. Instead of having to build up a business from scratch, a turnkey e-commerce business is ready when you are. As long as you are dedicated to providing exceptional customer service and you respond to queries from clients in a timely way, you are already halfway to achieving success.
5. They Are Focused on Excellent Customer Service
Doing business online is incredibly easy. Therefore, in any online industry, there are countless competitors. This makes it essential to stay on top of your game.
Millennials realize that they have to be the best at what they do in order to succeed. It’s for this reason that they are committed to providing excellent customer service. In short, they consider their customers as the reason for their success.
6. Millennials Create Healthy Working Environments and Solid Boundaries
With their high emotional intelligence and willingness to discuss problems (no matter how uncomfortable), millennials strongly believe that a healthy working environment is essential.
Unlike traditional work cultures where bullying, unreasonable bosses, and a culture of negativity was the norm, millennials thankfully do not accept this way of working.
Although it’s now possible to work from home and manage a business from your couch, millennials know how to draw distinct work-home boundaries:
- During their working hours, millennials are productive. They try and respond to all urgent queries as soon as possible.
- Once their working day has finished, millennials do not take their work home with them. Instead, they make time for relaxing and recharging their batteries.
RELATED ARTICLE: 5 PROFITABLE BUSINESS OPPORTUNITIES FOR TECH-SAVVY ENTREPRENEURS
7. They Are Constantly on the Lookout for Innovation
Traditional business models require the business owner to focus on (at most) only a handful of products or services.
However, in this fast-moving world, millennials understand that while a product or service may be trendy or popular at the moment, this may not always be the case in years to come.
This is why millennials are more open to innovative products and services. Being the first company to offer a new product or service is a great accolade and opportunity for financial reward.
RELATED ARTICLE: 10 PROFITABLE WAYS TO MAKE MONEY ONLINE