Entrepreneurs' Blog

06 Dec, 2011

The changing face of business by Bev James

Posted by: Bev James In: Bev's Blog|Marketing|Mentor Articles|Mentoring|Millionaire Mentors|Public Relations

The changing face of business by Bev James

Move over babyboomers, there are new kids on the block.

Here comes Generation Y – the Facebook generation – who are changing the face of business forever.

New research tells us that: between 2006 and 2009 there was a 46% jump in the number of graduates describing themselves as self-employed or freelance; more than 30% of undergraduates are managing their own businesses or setting up companies while still at university; and more than half of 14-19-year-olds would like to be their own boss.

It’s a trend that is happening the world over. There is no such thing as ‘too young’ to be in business any more. There is a rising awareness of ‘youth power’.

Internet enterprise and the new wave of TV business ‘gurus’ are encouraging young minds to think differently about the world of work. The generation born between 1980 and 1994 were introduced to computers and mobile phones at an early age.

They are enthusiastic about using social media. In a rapidly changing commercial world where traditional job security is a thing of the past, many have been inspired by the success stories of entrepreneurs who found success and fortune at a young age.

Some are realising that there is no need to choose between going to university and setting up a business because both can be achieved within a similar time frame – provided the aptitude is there.

The new generation of young entrepreneurs have superior networking and digital skills. They will have less need for hard selling skills because they have grown up using social media, which means they are building solid relationships for the future. Most are already far better connected than older business people were at the same age.

By the time they leave full-time education many have contact lists of thousands of names. Their connection will allow them to spread a (marketing) message to thousands in seconds.

Young entrepreneurs are more likely to:

• Seek a business mentor. Popular business programmes such as Dragons’ Den, The Apprentice, even entertainment shows such as the X-Factor all showcase the benefit of a mentor for fast-track success.

• Work from home and grow their business organically without feeling the need to rent premises.

• Be comfortable working in a virtual team, which allows businesses to be flexible and developed at low cost. Outsourcing is preferable to employing staff in the early days.

• Create strong social networks that can give them a head start and provide valuable resources.

• Be inventive. Visit the Fiverr.com website for example where people advertise what they will do for $5 – anything from evaluating a business plan to creating a Facebook fan page.

• Maximise the benefit of technology in a business environment.

Young people may lack experience and commercial know-how; some may need help with their social skills or confidence building; but self-motivation comes from personal achievement.

With the right encouragement, those who are currently in their 20′s and 30′s will bring energy, enthusiasm and a lack of cynicism into the commercial world.

They are the leaders of tomorrow who are teaching the world new lessons today.

About Bev

Bev is CEO of The Academy Group which includes The Entrepreneurs’ Business Academy (EBA) & EBA for Coaches which are both joint ventures with James Caan. Her book “Do It! or Ditch It” has already been listed as a bestselling business title and she is ready to pass on her success to your organisation.

Connect with Bev on Google+

2 Responses to "The changing face of business by Bev James"

1 | Make your online brand memorable for all the right reasons | Entrepreneurs' Business Academy Blog

December 13th, 2011 at 10:54

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[...] is an awesome tool for business generation. It’s hard to imagine life without it isn’t [...]

2 | Anne Harrington

December 14th, 2011 at 16:17

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Yes, I agree with this, as a member of Virgin Media Pioneers I’ve met so many amazing younger entrepeneurs, who are achieving a lot :) … but please don’t write off us ‘older’ entrepeneurs, I love Social Media/Networking, have a Mentor with Virgin Media, can see the excellent value of Virtual Teams, and I studied Computer Programming at Uni … so, perhaps this shift has been brewing for some time.

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  • Morgan Grage: I like this post, enjoyed this one regards for putting up. "No man is wise enough by himself." by Titus Maccius Plautus.
  • Derek: Brilliant article Bev, thanks for sharing. coincidentally the kilimamjaro example used is on my 2014 to do list! Ps thanks for the tips you gave me
  • jackson: thanks for your great article about developing your business idea to great business Jackson mutebi

About EBA

The Entrepreneurs' Business Academy is a unique and highly practical one stop resource for business owners and aspiring entrepreneurs, providing a range of courses , EVENTS and materials that give step-by-step guidance for entrepreneurs on their business journey. The EBA's courses have been put together by James Caan and Bev James MD of EBA and The Coaching Academy, and specifically designed to teach its participants the skills required to take an idea and turn it into a reality. Read more...

 

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