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

“I think we have a tendency to think that the world revolves around us and what we want and having a hard time to live up to the standards of having/living a perfect life.”—Female, 22, WA

A new quiz app’s R-rated categories are capturing teens’ attention. FriendO is rising through the ranks of the app store, but not by following the Play Nice, PG strategy that took tbh viral. FriendO users move up their friends’ rankings boards as they answer questions about each other, proving their friendship. If someone sends the app to three friends, they unlock NSFW categories like MSFK (Marry, Sex, Friend, Kill). But people are worried that none of these categories are barred to young users. (Mashable)

TGI Fridays is adding Instagrammable milkshakes to their menu with “cascading toppings,” “suspiciously” similar to Black Tap’s infamous creations. The “Extreme” milkshakes “take dessert to the next level” with a seasonal option piled high with Christmas cookies, and a s’mores shake topped with marshmallows, Oreos, and graham cracker crumbs. If that’s not enough to get Millennials in the door of chain restaurants that they notoriously avoid, both shakes can be ordered “boozy” (a tactic we’ve seen before). (Grub Street)

Seventeen is creating an LGBTQ community for teens with their new, “social-first” platform, Here. Instagram and Facebook form the main hub of Here, along with a dedicated vertical on Seventeen itself. Launched less than a week ago, content is already popping up on social and the site. Seventeen is appealing to the Genreless Generation, and one editor said Here will be “a resource and a place for teens to express themselves.” (Fashionista)

Rising musician Tallia Storm says her Instagram paid for her debut album. Lauded by Sir Elton John and Nile Rodgers, 19-year-old Storm leveraged The Influencer Effect for her own gain: Her debut album, Teenage Tears, was entirely self-financed via her earnings as a “fashion ‘it girl’” and Instagram influencer with over 300,000 followers. As a result, she had full creative freedom and became a “part of the growing staple of acts who are not repped by a major label.” Oh, and she got to open for Sir Elton John. (PR Newswire)

Kylie Cosmetics, Kylie Jenner’s online-only beauty brand sensation, has teamed up with Topshop to drive young shoppers in-store. Brick-and-mortar is far from dead, with research from TABS Analytics showing 66% of shoppers prefer to purchase new cosmetics in-store—and brands like this one are betting on IRL retail. Kylie Cosmetics is now available at seven Topshop stores across the country for just five weeks, and they’re accruing long lines of fans to test out the coveted lip kits in person. (BuzzFeed)

“…[Rick and Morty] has our generation's sense of nihilism, fear of wasted time, humor in unpredictability, and shy optimism in human relations.”—Female, 17, TX

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