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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The Newsfeed

Quote of the Day: “It's free to walk to work and I get some exercise in.”—Female, 26, NY

Niche beauty brands have blurred gender lines at their core—can large cosmetics companies play catch up without seeming “disingenuous”? Milk Makeup and Fluide have built their brands on being inclusive, but larger brands sometimes strike consumers as hopping on the band wagon when they try to do the same—especially since they created so many of the gender norms they’re now rallying against. The best way for them to get in on the trend? Start by making their hiring process more inclusive both “behind the lens” and in front of it. (Fast Company)

Starbucks thinks the “health and wellness” trend is to blame for declining Frappuccino sales. Despite marketing efforts like the Unicorn Frappuccino, syrupy drink sales are down 3% from last year. However, rivals like McDonald’s and Dunkin' Donuts could be stealing sugary beverage sales from the coffee giant, meaning young consumers’ penchant for healthification isn't necessarily the culprit. In fact, McDonalds recently debuted two new frozen drinks that earning praising on Twitter. (NYPFox News)

Apple is getting into kids’ content, teaming up with Sesame Workshop for a slate of original shows. Live-action, animated, and puppet-based series will be included in the programming, but Sesame Street itself is not part of the deal. There are no details yet on where Apple will release the shows, meaning they could either shop them to another platform or debut them on their own streaming platform. Considering that Apple has several original program deals in the works, they could be looking to bulk up their own bid in the streaming wars. (Kidscreen)

Twitter and Tumblr posts are getting a new lease on life—as screenshots on Instagram. While young users of Twitter and Tumblr have declined, Ypulse’s Social Media Trackerfound that over half of 13-35-year-olds use Instagram daily. Instagram is the preferred place to post memes, despite many accounts creating their content elsewhere. Why do they switch platforms to post? Instagram’s Discover tab allows faster browsing than Twitter, while Instagram images are displayed in full rather than being cut off, like they are on Twitter. (The Verge)

Eggo sales are down in between seasons of Stranger Things. Yes, the sci-fi series has that much influence on the frozen waffle’s revenue. One Eggo executive explains that they “quickly leveraged the [resulting] consumer engagement” from the show, and it paid off: sales jumped 14% in the fourth quarter of 2017 and 9.4% for the first four months of 2018. However, fewer people are binging the Gen Z & Millennial favorite these days, so Kellogg’s frozen pancakes, waffles, and French toast sales have slowed to just 1.3% year-over-year. (CNN)

Quote of the Day: “I fell in love with trance music.”—Male, 23, NY

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