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 won’t buy an already-made costume to dress up in for Halloween because I am creating a punk sailor Jupiter from Sailor Moon costume for comic con and I worked really hard on it, so I will wear it any chance I can.” –Female, 21, NY

The nostalgic details and music that filled Guardians of the Galaxy were a major part of making it the superhero movie that Millennials want right now, and they’re continuing to use that nostalgia now that the film is out of theaters. The movie’s soundtrack, Awesome Mix Vol. 1, is being released as a limited edition cassette tape this November, in time for Black Friday. The fact that cassette tapes are considered by many to be a dead technology won't likely stop young consumers looking for a retro-style piece of the movie. The album has already been released as a digital download, CD, and vinyl, and is already the tenth largest selling album of 2014 so far. (Billboard)

GoldieBlox has had impressive success as a toy startup focused on promoting engineering to young girls. Now the brand is expanding into digital products with their first (free) iOS app, GoldieBlox and the Movie Machine, and Bloxtown.com, a “digital playground” of interactive games. The app teaches about animation and allows young users to create GIFs that they can then use in a physical construction set they have built themselves. (PSFK)

Some of Vine’s biggest stars are coming to TV. Rainn Wilson, of The Office and SoulPancake fame, is working on a scripted comedy that will follow five of the app’s most popular Viners ”as they try to break into Hollywood.” The show, appropriately named Hollywood and Vine, will be the first traditional TV show to have a cast of mostly Vine stars, but could benefit from their online fans: the digital stars chosen have a collective following of over 30 million. (The Verge)

Breaking Bad was a story of meth and murder that was hugely appealing to older Millennial audiences, so some parents are objecting strongly to dolls of the main characters of the show being on the shelves at Toys “R” Us. A petition to take the Walter and Jesse action figures out of the chain and moved to “an appropriate store” was started online by one Florida mom and already has over 7,000 signatures. One of the figures comes with “a sack of cash, and a bag of blue crystals”—a.k.a. toy meth—so we can kind of understand the concern. (Racked)

Can Elsa and Anna help get kids to eat healthy? Previous studies have found that labeling fruits and vegetables with cartoons makes them significantly more appealing to children, and Disney-branded produce sales have reportedly tripled in the last two years. Bags of apples with Frozen and Spider-Man characters are being released this month as a continuation of the effort to get families to live healthier lifestyles. (Brand Channel)

Did you know every month, Ypulse surveys our Millennial panel of over 60,000, asking 1,000 14-32-year-olds about current events, seasonal trends, changing attitudes, and new norms? The results of these bi-weekly survey results are delivered to our Gold subscribers on Ypulse as downloadable tables, with data broken out by age, gender, ethnicity, location, and education. (Ypulse)

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