4 reasons Millennials should start their own businesses

Millennials have been pegged as the entrepreneurial generation. Here are 4 reasons why millennials should start their own businesses.

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HONOLULU, Nov. 10, 2015 – Millennials have been pegged as the entrepreneurial generation. Or the I’ll-figure-it-out-as-I-go generation.

Although that does sound ludicrous and maybe even self-centered, we millennials also have a desire to make a difference. As an entrepreneur myself, I can vouch for having a strong desire to make a positive difference and a strong “I will find a way to make it happen” attitude.

Growing up, I saw the lifestyle and freedom that came from owning a business, which in this case was my dad’s company. Since as long as I can remember, I always knew I wanted to own my own business because I felt that working for someone else’s business and for their freedom (not mine) was terrifying.

In recent years, at least two American universities have acknowledged the economic importance of launching new businesses. According to the Kauffman Foundation of Entrepreneurship and Education, in 2013 Arizona State University and the University of Texas-El Paso required all students to take classes introducing principles of entrepreneurship.

Here are four reasons millennials should start their own businesses:

You work well in teams

The truth is that teamwork is at the heart of ALL great achievement. Millennials growing up in a digital age have seen what results from working in teams rather than as individuals. We know that there is not ONE act of genuine significance in the history of humankind that was performed by a lone human.

Mark Zuckerberg, for example, had a great idea to connect people with an online social platform but he started with two other guys who grew into 10, 20, 40 and now 400+ employees, making Facebook the #10 most valuable brand in the world. Done with teamwork!

You are not afraid to take risks

At 22 years of age, I took a risk in dropping out of college in my third year to pursue my passion in my health and wellness business. Granted, at that time I was already making a six-figure income, so I had already been building something before I made that decision.

Many other millennials like myself are also taking risks in the world of entrepreneurship because of the benefits it offers. With the continuing uncertainty in today’s workforce, millennials have been forced to pursue less desirable jobs, some that don’t even require their degrees. Taking that risk to journey into the unknown and betting on themselves is more of a favorable approach for millennials who want something much better out of life.

You are tech savvy

This is the social media and tech-savvy generation. Unlike our parents, we grew up using phones without buttons, preferring to communicate through text, Facebook, Instagram, Twitter and voice messages rather than a simple phone call.

According to a White House report, a quarter of millennials believe that their relationship to technology is what makes their generation unique. While all generations have experienced technological advances, the sheer amount of computational power and access to information that millennials have had at their fingertips since grade-school is unparalleled. millennials have changed the way the world communicates forever.

You have a desire to give back

Aside from a few negatives that are routinely attached to millennials, we truly care about the world and the people around us. According to the Huffington Post, 75 percent of young people donated to causes and 63 percent said they gave their time to volunteer.

Millennials are giving time and money to charities that matter to them, meaning that it’s not mindless giving. A successful entrepreneur can indeed make a difference.

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