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 like shopping at Staples because they have good prices on supplies I need for school [and] electronics or other devices I may need.” –Female, 17, ID

For urban Millennials, getting married doesn’t necessarily mean saying goodbye to roommates. Members of the generation continue to mature into adulthood in an untraditional way, and with rent increasing dramatically, some are choosing living as husband and wife and roomie over a moving to smaller place, or having a longer commute. This acceptance of communal living could be a reflection of the rise of the sharing economy, as it becomes the norm to share everything from rides to the kitchen. (New York Times)

Although most of today’s 18-24-year-olds were still in high school or college during the Great Recession, it’s still affecting their career choices today. A survey from Way to Work found that 70% would prefer a stable job over a job they were passionate about but offered little security, and one third said finding that secure job was their top concern. 34% of Millennials named financial stability as their greatest aspiration. (Forbes)

According to some teens, “MTV is dying.” Hoping to reverse that sentiment, MTV will be introducing eight new series, and has 85 more in development, that are meant to reflect Millennials’ “unbridled optimism.” Upcoming series include a reality show about YouTube star Todrick Hall and a scripted comedy around Vine star Logan Paul—MTV likely has their fingers crossed these social media stars will bring their fans to the network. (Adweek)

YouTube channel AwesomenessTV has successfully hooked hundreds of thousands of young viewers, and now they’re setting their sights on a new audience: Millennial moms. Their new network Awestruck will premiere later this year, offering a wide range of female-centric series, from comedy to drama to talk shows featuring both online stars and Hollywood celebrities. The network hopes that young moms will turn to them as they consume more online video content. (StreamDaily)

What does it take to become “Insta-famous?” Sometimes it just takes being photographed in the right place at the right time. Sixteen-year-old Charlotte D’Alessio amassed tens of thousands of followers in just a few days when a photo of her and her best friend, model Josie Canseco, went viral at Coachella. From there Canseco and D’Alessio appeared on celebrities’ feeds, the Coachella account, and new fans’ Tumblr posts. The girls’ viral status speaks to how quickly notoriety can amass for young consumers in the age or micro-fame. (BuzzFeed)

Want to know Millennials' favorite fast food chain? How often they're dining out? What they order? Our most recent topline and date on 13-32-year-olds gave Gold subscribers the inside scoop on all their food and dining preferences. We deliver in-depth tables and a visual report to them every two weeks, covering another aspect of young consumers' behaviors, beliefs, and more. (Ypulse)

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