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

Quote of the Day: “I follow movie critics/sites on Twitter - this is the best way to find out latest news and upcoming films.”—Male, 23, AL

McDonald’s new ad is brand-free and interactive. In the TV spot starring Mindy Kaling, she never says the brand’s name and no logo appears—though she is wearing a yellow dress in front of a red background. Instead, Kaling asks viewers to go to Google and search "that place where Coke tastes so good" to find out for themselves. Requesting the viewer to take action “play[s] on how teens and twentysomethings use their phones while watching TV, while also acknowledging "how they're discovering information" they trust. The ad has been viewed almost 4 million times since being posted earlier this week. (Inc.MediaPost

Nintendo might have plans to dominate the holidays (again). Last week, the brand announced the discontinuation of the wildly popular NES Classic Edition after very limited availability—news that was not received well by gamers worldwide. But now rumor has it that the brand is working on a SNES Classic Edition that could come in time for Christmas 2017, according to Eurogamer's sources. If their response is any indication, Millennial nostalgia will guarantee a success for the relaunch of the classic console. (Let’s just hope Nintendo makes enough this time.) (WWG)  

“Satisfying videos” are trending, and brands are taking notice. Clips that feature “repetitive tasks, perfect patterns in motion or machinery processes being completed in slow motion, with relaxing music” are providing Millennials and Gen Z an escape from stress—as we explored in our In Their Heads trend. These videos—which include things like paint mixing, slime squeezing, and cake icing—are only getting more popular online: over 265,000 posts on Instagram currently live under the hashtag #satisfyingvideos. Prism TV is one brand capitalizing on the trend, with a promotional video series that shows painters mixing colors together in slow motion. (DIGIDAY

Teens are ushering in a new era of “webrooming.” According to a new Dealspotr survey, 47% of 20-year-olds and younger are using their phones as their primary source for online apparel shopping, compared to 39% of Millennials and 37% of Gen X and Boomers. However, since they are less likely to have digital payment options, they were also the most likely age group to shop in-store, signifying they are using mobile to “reverse showroom” or “webroom.” The survey also found that H&M leads as the most popular retailer for the group, followed by Forever 21. (Yahoo FinanceDealspotr

Beauty brands regularly market to Millennials by speaking to their too-busy, “chicly rushed lifestyles,” but is it the right approach? Newcomers Milk Makeup and Allies of Skin are just a few examples of brands growing their beauty empires by offering simple products that are easy to apply, have multiple uses, and can shorten routines for the busy consumer. But when it comes to beauty, quality may come before convenience, especially for young consumers who enjoy spending time on makeup routines: a Ypulse survey found that 55% of 13-33-year-olds like experimenting with different looks. (Racked

Quote of the Day: “I am passionate about beauty, and I look to Ulta, Sephora, and Bluemercury to learn what news products are out on the market and how to use them.”

—Female, 24, FL

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