How to Feel Like an Entrepreneur Without Risking a Thing

Today Ypulse staffer Phil Savarese takes us through the growing category of online services that are allowing Millennials to feel like the entrepreneurs they want to be, without the investments and risks they can’t afford to make.

 No Risk(y) Business

Millennials have been viewed as extremely entrepreneurial. Their non-traditional approach to achieving their career aspirations leads many to view them as an entire group of future Zuckerbergs. And though they might aspire to be, Millennials are also a risk-averse generation. Witnessing their parents make risky (and sometimes irresponsible) financial decisions as the economy began to fail has affected them greatly. Often called the children of the recession, they are well aware of the importance in being financially responsible. As one 24-year-old Gen Y told us, “My generation has learned [not to] take financial risks. Play it safe and save.” Ypulse’s research has found that 46% of Millennials 14-to-29-years-old would rather have stability working for a larger company than risk losing their own money to start a business. At the same time, 81% admire those who do start their own companies. Clearly, there is a tension between their appreciation for the entrepreneurial spirit and their recently validated fear of losing what little money some have managed to make. The problem lies in who is willing to take that big jump and invest all they have into their idea.

Enter the age of the no-risk entrepreneur. Online retail tools are providing an increasing number of ways for Gen Ys to feel like they are starting a business, without any of the traditional burdens and dangers. Here are three services currently offering viable outlets for the risk-averse Millennial entrepreneur to satisfy their urge for self-made success. 

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Millennial News Feed

Quote of the Day: “When I hear the phrase ‘The American Dream’ I think of 1950s cliches, the economic downturn of 2008, and how college debt has pretty much made it impossible.” –Female, 17, RI

We know Millennials have delayed going down the aisle, but how do they really compare to the generations before them? Over 30% of Millennial women will have stayed unmarried by age 40, “nearly twice the share of their Gen X counterparts.” Even if the marriage rate returns to pre-recession levels, Millennials will not catch up to Gen X marriage rates. The dip in married couples could have economic repercussions, as they are “often better off financially.” (CNNMoney)

25-34-year-olds (mostly older Millennials) are the most likely travelers to use mobile search and social media “to resolve a travel problem,” with close to 40% relying on a mobile solution to their issues and quandaries. Travel info startup Skift is calling this group the “silent traveler,” and the increasing number of travelling Millennials will likely make the number of silent travelers grow as well. In response, the industry is shifting efforts to mobile: 20% of Delta’s check-ins now come through their app. (MediaPost)

A recent survey covering Millennials’ political and economic views has some pointing fingers and saying the generation’s political views are “incoherent,” and “confused.” But others say they aren’t any more confused about economics than anyone else, and contradictory political opinions are not abnormal. One important takeaway that is often overlook is that a generation of over 97 million in the U.S. cannot all be painted with one brush, and that some of the contradictions in beliefs are likely due to various segments' contrasting views. (NYTimes)

BYOD (Bring Your Own Device) is a workplace trend that some IT departments may find frustrating, and not surprisingly it’s younger employees who are the biggest BYOD culprits. 70% of 18-33-year-olds admit that they break corporate rules and use outside apps (think Dropbox and Evernote) at work. Of those, 50% said they do it because approved apps aren’t good enough, and 60% said they didn’t think it was a security problem for their company. (Recode)

The app French Girls has been around for some time, but it is continuing to gain momentum—or at least to entertain the internet. (Yes, it is named after Titanic’s classic “Draw me like one of your French girls” line.) Users can submit selfies to the French Girl community and receive back digitally drawn versions of their likeness, often creatively interpreted. (Uproxx)

Quote of the Day: “If a photo of me went viral, I would feel angry but…maybe I would be a little excited because it went viral, as long as the picture is not bad.” –Female, 16, TN

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