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: “I haven’t had children yet because I prefer to breed with an intelligent female, but none of them are single.” –Male, 30, KY

Instagram is reporting that their first native advertising tests have been a success. According to the network, Taco Bell reached 12.5 million 18-44-year-olds in the U.S. with their campaign, and saw a significant lift in ad recall. Chobani reached 4 million 18-54-year-olds, and was able to shift perceptions away from the idea that their product was only for breakfast. Chobani’s tips for Instagram success include avoiding professional looking shots, and not overbranding. These results echo our prediction that Snapshot Marketing is an essential next step for brands, and that content should fit in with what is already being created by consumers. (Mashable)

Instagram is reporting that their first native advertising tests have been a success. According to the network, Taco Bell reached 12.5 million 18-44-year-olds in the U.S. with their campaign, and saw a significant lift in ad recall. Chobani reached 4 million 18-54-year-olds, and was able to shift perceptions away from the idea that their product was only for breakfast. Chobani’s tips for Instagram success include avoiding professional looking shots, and not overbranding. These results echo our prediction that Snapshot Marketing is an essential next step for brands, and that content should fit in with what is already being created by consumers. (Mashable)

Today’s teens and tweens might be finding much of their entertainment online and in short doses, but in other ways they are being given an entertainment experience that sometimes feels photocopied from older Millennials’ childhoods. Case in point: Sony is producing a reboot of the I Know What You Did Last Summer franchise, continuing the trend of ‘90s films and TV being revisited for a new wave of young viewers. (Jezebel)

Millennials drew the short stick when it comes to economic security, but they may be getting their financial bearings. In 2013, the income of young Americans' households actually rose 10.5% from the year before. In previous years, households headed by 15-24-year-olds generally dropped more than other age groups. While this doesn’t necessarily mean that the recession's impact on the generation is overcome, it is a hopeful sign that not as much damage was done as was feared. (WSJ)

We’re in the midst of a fashion speed tug of war, with some brands leaning into fast fashion and others extolling a less is more attitude. But those brands who feel they need to keep up with the Forever 21s of the world should take note: Patagonia’s “anti-fast fashion” message is paying off. The clothing company has been encouraging customers to buy less, famously running ads that say “Don’t Buy This Jacket,” and their profits have tripled since 2008. (Business Insider)

Teen drug use, binge drinking, and smoking are all on the decline, according to a new federal report. The study found that substance dependence or abuse problems among 12-17-year-olds dropped from 8.9% to 5.2% from 2002 and 2013, and rates of drug abuse went from close to 12% to under 9%. However, the reasons behind these drops is somewhat of a mystery, as the percentage of teens who have seen prevention messages during the same time period has actually declined. (CBSNewsweek)

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