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: “This year, I’m planning on taking [my] wife and kid to the Philippines so he can experience his mother’s culture. His mother is Filipino while I am African American.” –Male, 32, CA

Over the last few years, airline flight safety videos have become marketing clips, with some going viral and brands getting more creative with their messages to stand out. Delta’s new in-flight safety clip is no exception, and they’re trying to speak young consumers’ language with a parade of internet guest stars. Meme celebs like Nyan Cat and Overly Attached Girlfriend make appearances in the “walk down Web culture memory lane” that has been viewed almost 2 million times in two days. (The Next Web)

The start and stop years of generations is hardly agreed upon, and many distinguish teens as a completely separate generation from Millennials—one that brands are paying more attention to. Tips for connecting with Gen Z (aka Plurals, Homelanders, iGen, or post-Millennials) include exposing your quirky side (or getting a little weird), having #NoFilter, and engaging with them on the social platforms they use. (Adweek)

Back in 2013, we told brands to prep for the future of e-commerce, including subscriptions beyond the beauty box—and we’ve been keeping track of the trend ever since. The founder of subscription box startup Carnivore Club has some thoughts on where the popular industry will go next. Expect even more niche product offerings, luxury services sold en-masse, and big retail brands joining in on the subscription model craze. (PSFK)

Nothing says summer like a baseball game—right? Maybe not for the next generation. The number of casual young players is dropping, and some Little Leagues are struggling to pull in players. According to the National Sporting Goods Association, the number of seven to 17-year-olds participating in baseball fell 41% between 2002 and 2013. New preferences for other sports like lacrosse and soccer, and kids’ focusing on a single sport for the whole year, could be reasons behind the drop off. (WSJ)

The promposal trend, which we spotted last year, has only been growing and now brands are getting in on the public “will you go to prom with me” spectacles. MTV launched “Promposal Mania” last month, orchestrating promposal stunts with pop stars and broadcasting them on Snapchat and Periscope. Sour Patch Kids has asked teens to submit their promposal stories on social, and is hosting a prom for the winners of the competition. (The Drum)

Looking for a quick stat on young consumers to get you up to speed before a strategy session? Searching Ypulse is the best place to start! Silver and Gold members have access to 10,000+ articles, 20,000+ curated news items, and thousands of statistics on Millennials and teens drawn from our monthly national survey of the generation. Your search can begin and end with us. (Ypulse)

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