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: “My dream for the future is to become an entrepreneur so I can become my own boss. I also want to become successful to help other people who are in need.” – Female, 23, CA

Seven years after the release of Harry Potter and the Deathly HallowsHarry Potter is the best-selling book series in history; but it also shaped a generation of children who read it. Millennials—known for their technology reliance—fell in love with these books “about love conquering hate,” waited for their release, grew up with the characters, and found within the books a unifying culture that has lasted far beyond the publishing of the last book. As we’ve said previously, the optimistic story about a unique, special boy destined for great things resonated with Millennials in a time when they too believed they were special and had great expectations for their futures. (BoingBoing)

Millennials are not rushing to tee off, and golf is “suffering from a generation gap.” Over the last five years, participation in the sport has fallen steadily, and the participation rates of 18-34-year-olds dropped 13% from 2009 to 2013, while their rates in other sports has risen significantly. The slow rate of games, the expense, and likely the pretense surrounding golf, could all be contributing to the gap. (WSJ)

An anonymous, adult, toy reviewer is one of YouTube’s biggest stars. DisneyCollectorBR posts videos of toy “unboxings,” watched by millions. Her most watched video is an unwrapping of “egg surprise” trinkets to show what is inside—it has over 90 million views. Apparently, the simple videos of a toy being opened and played with by adult hands are “entrancing” kids, who watch one after another. There is close to no information about the person behind the account online. (BuzzFeed)

Millennial parents continue to be given tools that facilitate their kids’ hyper-monitered childhoods. MamaBear is an “all-in-one worry-free” parenting/monitoring app that recently raised $1.4 million. Through the app, parents can be alerted to where children are, what they’re saying on social media, what photos they’re being tagged in, and even monitors when teen users are speeding. (TechCrunch)

The obesity epidemic has been blamed on many things, from fast food to technology replacing outside play. But one result of the health problem could also be making it tough to conquer: a lot of children who are obese or overweight don’t know it. A recent study found that 76% of kids ages 8-15 who are designated by the CDC as overweight thought they were “about right.” Boys and children from poorer families were more likely to “misperceive” their weight. (NPR)

Quote of the Day: “I unplugged from Facebook and it was one of the best decisions I have ever made. It is such a time suck. I have other online sites that I can browse to relieve stress or take a break from work without having to see what some random kid in high school is eating for breakfast.” —Female, 23, PA

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