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: “For Halloween I’m dressing up as Erlich Bachman from the HBO show Silicon Valley.”—Male, 24, IN

Time has released their annual list of the 30 most influential teens. This year’s cut was chosen by “global impact through social media and overall ability to drive news,” and ranges from the dancing 14-year-old made famous from Dance Moms and Sia’s latest music videos, Maddie Ziegler, to 16-year-old founder of a high-end lacrosse equipment company, Rachel Zietz, to 17-year-old poster child “in America’s culture war over LGBT rights,” Gavin Grimm. Also making the list is 17-year-old app developer Ben Pasternak, who we spoke to earlier in the year. (TIME

The Uber for orchestras is aiming to get Millennials hooked on the classics. Groupmuse is a service that hires “young classical musicians to play small concerts in living rooms across the country.” Consisting of two 25-minute sets, the combinations of music can span a wide range: “We’ve had Dvorak and then string quartet arrangements of Guns and Roses.” The founder, Sam Bodkin, blames “steep entrance cost[s] to stuffy symphony halls” and the association that classical music is “boring,” for the lack of interest in Millennials. 70% of Groupmuse’s users were born in 1980s and ‘90s, and Bodkin has plans to partner with other classical music institutions to further spread interest. (WIRED)

Millennials are abandoning ship on shows that are just too hard to watch. A new study from TiVo found that more than half of Millennials have stopped watching a show because it was too “burdensome to access — i.e. not enough episodes were available to catch up on, episodes were behind a paywall or moved platforms,” or other obstacles. 91% of Millennials have active subscriptions to at least one streaming service, and their easy access to content has turned them off to the idea of having to put in effort to watch a show, especially when they think: “There are four other shows I can go watch right now.” (Variety

A brewer is targeting young and curious drinkers with an Instagram campaign that is the first of its kind. London brewer Fuller’s has strategically placed “blank” outdoor posters that encourage the viewer to take an Instagram and use filters to find hidden messages. The #FindFlavour campaign is promoting Fuller’s Frontier craft lager, and is backed by the insight that “social beer drinking is dominating across platforms, with fans sharing experiences, love of flavour and designs.” Participants who snap and hashtag their hidden message will get the chance to win movie tickets or free beers. (Morning Advertiser

A new augmented reality game is making little entrepreneurs out of kids. Osmo Pizza Co. uses an iPad camera and a simple mirror to mimic the experience of running a pizza shop for five to 12-year-olds. Players use physical objects to create pizza orders and exchange currency, that the iPad picks up on and translates into the game. They can also use their profits to upgrade their shop and level up. The game teaches math and emotional intelligence, as well as two important aspects of startups: making the consumer happy and growing a company by reinvesting money earned. (VentureBeat

Quote of the Day: “I would want anyone that is not named Clinton or Trump to be the next president.”—Male, 23, NY

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