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: “My favorite store to shop in is The Apple Store. Best store layout i have every experienced. They have the products I want and the expertise to answer any questions.” –Male, 19, VA

Those fretting about the "dating apocalypse" are missing a lot, but it's true that dating in the digital age is full of complications for young consumers. While some truly believe that so-called hookup culture is the problem, there is another theory out there for the modern dating scene’s issues: math. The book DATE-ONOMICS: How Dating Became a Lopsided Numbers Game argues that hookup culture is actually a result of unequal numbers in the gender pool. In short, far more women are going to college, and “when gender ratios skew toward women, as they do today among college grads, the dating culture becomes more sexualized.” (Washington Post)

Every parent who has asked, “What were they thinking?!” when they see teens’ questionable social media posts finally has an answer: nothing. Ask.fm’s recent survey found that 80% of teens post status updates, or send tweets without thinking about the consequences of what they’re broadcasting. But many of their parents don’t actually know what’s being posted anyway: 43% say they don’t keep tabs on their children’s online activity. (Jezebel)

When Millennials get over their wariness of the stock market and actually do invest, they still aren’t making the same choices their parents did. Younger investors favor “passive management,” and tend to choose less volatile stocks. Unsurprisingly, their tech-reliance is also influencing their investments, and they're using online wealth management tools and “robo-advisors,” while Boomers still rely on information from peers, traditional brokers, and financial advisors. (Nasdaq)

According to a recent Ypulse monthly survey, 91% of 13-32-year-olds say they care about their health and being healthy, and 73% say they enjoy exercising—so it makes sense that it’s young consumers who are spending on health and wellness products. Another recent study found that one in three Millennials share health content through social media, texts, or email every week. Their fitness behavior is driving the growth in health tech: health and wellness apps have seen 171% annual growth in usage. (MediaPost)

We’ve told you about the unique and wonderful talents of YouTuber Todrick Hall in the past, but in case you missed that, Fast Company has a “Non-Millennials’ Guide” to Hall—because he’s now got his own show on MTV. Todrick, which premieres tonight, is a reality show that gives viewers a behind-the-scenes look at Hall and his creative crew making their musical online videos. The singer's YouTube channel currently has over 1.6 million followers. (Fast Company)

Quote of the Day: "My favorite place to shop online is Sephora, because I love high end makeup and I love reading about what's new and watching tutorials on how it works.” –Female, 26, MA

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