While there are certainly some tremendous success stories for today’s millennials in business, statistics show that millennials have not been as successful from an entrepreneurial standpoint as Generation X individuals or Baby Boomers. That being so, here are a few recommendations which millennial entrepreneurs may care to adopt, to help them achieve the business success they’re striving for.
Go for It
Studies have been conducted which show that in many cases millennial entrepreneurs are reluctant to take the plunge into establishing a solo business. They don’t lack for good business ideas, and many of them have solid backgrounds in business, but for whatever reason, many of today’s millennial entrepreneurs are simply afraid to take the plunge.
Forget About Self-Made Success
In truth, there are no self-made successes anymore. People who are successful in business today have achieved that level of success by forming strategic partnerships and associations which have helped project them forward. The romantic notion of becoming a self-made millionaire is just that – a romantic notion that has no real substance in today’s world.
Don’t Make It All About You
If you’re a person who wants to change the world or to become wealthy through business efforts, you’re less likely to succeed than someone who has removed his/her personal achievements from the formula. You’ll be much better off trying to enable others to succeed in their dreams, because there’s actually a market for that, whereas there isn’t much of a market for you becoming wealthy.
Use Innovation to Your Advantage
You don’t really need to create the next great smartphone in order to be wildly successful in business. Innovation in many cases is merely taking advantage of existing products and finding a new twist that will be valuable to everyone. So if you can develop a very useful app for smartphones, you can become much more successful than your wildest dreams would have imagined if you had developed the phone itself.
Are you an entrepreneur in need of cash?
Many entrepreneurs find that an influx of working capital will help them achieve their next big project. If you’re in need of cash to realize your next business dream, contact us at Purevue Capital so we can discuss some options.