How Millennial Entrepreneurs Are Reshaping Business

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Millennials have earned this image as entitled, status quo-challenging individuals; they are also the first tech-savvy generation who grew up immersed in modern digital technologies. These generalization and events have shaped their identities, which allowed them to be in a position to possibly leave a lasting legacy in many aspects of society, politics, culture, and even the business world.

Since most millennials are ambition-driven individuals, they are also reshaping the business industries and their practices. With their shifted focus on work and life balance, progress, and equality over wealth and power, it looks like millennials will continue to leave an impact until the future.

Millennials Don’t Want Business As Usual

As the world faces different crises, more millennials are uncertain of their future and the one they will leave for the generations after theirs. These events caused a shift in the millennial generation’s attitudes, which encouraged them to focus on their social and environmental impact rather than profit and business as usual.

Of course, millennials still need money and stable income when starting their businesses. But besides partnering with financial planners and marketing experts, they also don’t overlook the inclusivity and sustainability of their businesses. They want to balance their financial returns with a positive impact on their communities.

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Sustainability And Equality Over Profit

Entrepreneurship and business practices have taken a different route in recent years as more millennials become involved. Since millennials have a better understanding and grasp of the current situation and the world’s possible future, they have discovered the direction they need to head. They want greener, more sustainable, and ethical businesses, inclusive to people from all walks of life, without undermining the demands of consumers and the business itself.

Besides growing up immersed in modern technologies, millennials are also the first generation to experience the catastrophic effects of climate change. These environmental crises are the reason why millennials want progress and action now. They are focused on sustainability and change, and they want to achieve it in a politically correct environment that isn’t a form of communism. Their goals involve looking for demands in the market and creating products or services that meet them, without violating the environment or anyone else’s rights, but still personally fulfilling.

Because millennials have put solving the climate crisis at the forefront of making decisions, they have created a society of businesses and consumers who practice green and ethical consumerism. More products are now vegan, sustainable, recyclable, green, and eco-friendly with zero plastic. More people are also more inclined to pay more or support environment-friendly products and services.

The Effects Of Millennials’ Fight For Sustainability

Millennials are both consumers and entrepreneurs, which allows them to share their values and influence their community’s attitude. They also know how to tap into other markets and communities to further their reach and make their calls for a greener business industry heard. Since they are tech-savvy people, they utilize the power of social media, digital marketing, and other modern technologies to get their messages across to as many people as possible.

Nowadays, even big companies like NIKE, Adidas, Puma, Starbucks, Home Depot, Apple, Amazon, Disney, Procter & Gamble, eBay, and Ford Motor Company have green initiatives. Of course, these aren’t perfect companies, and some of them still have questionable work ethics, but no one can’t deny that they are trying to change and adapt to the world’s needs. In the process, other companies are also going greener and more sustainable.

It was a long process to turn the tide around since sustainability first entered the mainstream consciousness during the 1980s. It was a paradigm that received more attention from the public to address the depletion of natural resources and the world’s dependence on fossil fuels. Unfortunately, it took a long time before sustainability evolved into something more than an abstract idea. But thanks to millennials, they have driven many businesses to become part of the sustainable movement.

The Future Of Millennials’ Green Initiatives

While it is debatable whether millennials have shaped business practices and economically profitable industries, it is out of the question. As mentioned, millennials would rather have a future in a green world where people and the environment are more important than money.

Sustainability and the other things millennials are fighting for will continue to become a significant part of the current world until the future, especially as they continue to be a force to be reckoned with.

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