5 lessons you can learn from generation Z entrepreneurs – Times of India

We use cookies and other tracking technologies to provide services in line with the preferences you reveal while browsing the Website to show personalize content and targeted ads, analyze site traffic, and understand where our audience is coming from in order to improve your browsing experience on our Website. By continuing to browse this Website, you consent to the use of these cookies. If you wish to object such processing, please read the instructions described in our Cookie Policy / Privacy Policy.
Interested in blogging for timesofindia.com? We will be happy to have you on board as a blogger, if you have the knack for writing. Just drop in a mail at toiblogs@timesinternet.in with a brief bio and we will get in touch with you.
Shreyas Hegde – CEO & Co-Founder of Viral Fission.
Gen Z, the generation born between 1997 and 2012, is quickly becoming known as the most entrepreneurial generation in recorded history, with 62 percent of its members having started or intending to start their own business. Those who have already begun this journey are not only fully immersing themselves in the entrepreneurial spirit, but are also reshaping it through novel methods of brand development, skill acquisition, and business operations. Gen Z’s entrepreneurial endeavours, including apps, YouTube channels, beauty products, and hand-tied bow ties, are achieving widespread success despite the fact that the oldest members are only 24 years old.
Despite the fact that the majority of them lost critical years of their lives due to a major global pandemic and widespread economic downturn, they are convinced that there is so much more they can accomplish now. Even though the business community has several preconceptions, Gen-Z is defying them and demonstrating that their methods and ideas, which are sometimes labelled as ‘frivolous,’ are in fact useful. With high aspirations, their goals extend beyond self-achievement to address issues such as social justice and climate change. They are aware that their survival may be contingent on their success, but it makes no difference how they achieve it.
However, despite having many similarities to their millennial predecessors, today’s successful Gen Z entrepreneurs also bring something unique to the table: the qualities and experiences that have helped shape them and give them an edge in the workplace.
So what exactly are these qualities that these Gen-Zers have? Below are five unique lessons one can learn from Generation Z entrepreneurs.
1) The Importance of Flexibility
Today’s youth are more open to new opportunities and less committed to a single career. When it comes to change, they are open, unrestricted, and versatile. Generation Z is flexible and adaptable to new circumstances. This adaptable mindset, coupled with Gen Z’s lifelong exposure to and familiarity with technology, has likely aided this generation in its adaptation to the “new normal” that will emerge in the years to come. As members of one of the first fully digital generations, members of Generation Z have developed the habit of being able to learn anything, anywhere, and on any device. For the simple reason that they can conform to almost any circumstance. They anticipate the same degree of adaptability from their employers. It would serve senior leaders well to embrace this flexibility, not only as a business enabler but also as a leadership mindset.
2) The Power of Social Media
With the growing advent of social media and social e-commerce, Generation Z has the entire world at their fingertips. Since they have always had immediate, real-time social connections, they have been exposed to a wide range of influences, opinions, ideas, and opportunities from the comfort of their own home. Owing to the same, Gen Zers have an innate understanding of branding and self-promotion because they spend so much time online (about two hours and 55 minutes per day, almost an hour more than the average millennial). They are open to working with others and welcoming new perspectives, and they leverage existing relationships to see what ideas gain traction.
The new batch of creators aren’t afraid to promote their creations and identities in the hopes of attracting a following and eventually making money off of ads, sponsored content, or merch.A prime example is the coterie of 20 million GenZers out of 50 million Youtube creators who make six figures annually. Clearly, this “new” social method of conducting business feels as natural to them as renting a storefront or creating a website did to previous generations.
3) Abundant Role Models
Pursuing entrepreneurial interests as a child was unusual for millennials because their entrepreneurial inspiration was limited to relatives and family friends. Gen Z, on the other hand, has an abundance of role models, ranging from Elon Musk to YouTube influencers, and mentors are easily accessible. Case in point: Tara Bosch, the 23-year-old creator of SmartSweets watched Shark Tank religiously as a child before experimenting in her kitchen to make sugar-free treats. While still a student, she did some online research and found a two-day course on "how to establish a food company" before connecting with an accelerator for young entrepreneurs.
After working on it for a few years, she sold her company just last year for $400 million! All of this is evidence enough to show what happens when a generation views "entrepreneur" as a professional path that is at par with all others.
4) The Value of Efficiency
Gen Zers excel at task optimization and dislike the traditional practices of working boring 9-hour shifts. Gen Z professionals excel at two skills: working smarter, not harder, and adaptability. Whereas some may call this laziness, it is essentially cleverness. It’s wise to find a way to do a job more efficiently through technology or innovation without cutting corners. Senior leaders should take note of this example and recognise that just because something has always been done a certain way does not always imply that it is the best way to do it.
5) Learn On-the-Go Attitude
Despite having the best education available, Gen Z does not typically study in the traditional manner that previous generations did. They understand that it is no longer necessary to have a four-year degree or a business degree to be successful. They learn wherever and whenever they can (often online), from online incubators to MasterClass and Google’s new job credentials. Also, Generation Z seem to have the courage to jump in, get their hands dirty, and fill in the knowledge and skill gaps as they go, resulting in the formation of new businesses without waiting until they have everything figured out.
Furthermore, when compared to previous generations, Gen Z appears to be less concerned with boundaries. They are not afraid of achieving their objectives because they lack official qualifications.
{{C_D}}
{{{short}}} {{#more}} Read More {{/more}}
Views expressed above are the author’s own.
The Gati and the Shakti: Writing on the occasion of PM’s birthday, Union road and highways minister says the speed and scale of infrastructure-building owe much to Modi’s inspiring leadership
After all, the Raj is dead: Colonialism was horrific. But a confident India should move past the decolonisation debate
Engg not just about computer science and IT. Can we stop this mad rush?
Lessons from Gyanvapi: Courts cannot offer solutions to all religious disputes. Communities must work out compromises
The peace principle: Modi’s words to Putin didn’t mean a change in stance. India’s ability to wage peace is set to increase
Can wordsmith Tharoor teach the grand old party some new tricks?
Let’s put things in perspective with a towering Gandhi statue
How AI benefits ed-tech businesses’ customer service
India’s Russia problem will grow: Locked out of semiconductor supply, Moscow will be hard-pressed to fulfil New Delhi’s military needs
Big bosses just don’t get Gen Z techies: Though Wipro has sacked 300 staffers for moonlighting, the punishment won’t really arrest the trend
Interested in blogging for timesofindia.com? We will be happy to have you on board as a blogger, if you have the knack for writing. Just drop in a mail at toiblogs@timesinternet.in with a brief bio and we will get in touch with you.
Swaminomics
Right & Wrong,TOI Edit Page
TOI Edit Page
Heartchakra
Copyright © 2022 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

source

Leave a Comment