In years past, the manufacturing of products was king. However, we have fully transitioned into the information age, and it is changing virtually every aspect of how we live our lives. In the same way as this evolution is occurring for individuals, we are seeing modifications in the startup companies that are now forming and the entrepreneurs who are making them happen.
LEAN AND MEAN
Not so long ago, business owners looked to large corporations for their inspiration. CEOS like GE’s Jack Welch were their role models, and their goal was to build the largest footprint possible. Fast forward to today, and you will notice the popularity of small startups and other micro-businesses whose founders are attempting to follow in the footsteps of innovative icons such as Apple’s Steve Jobs and Microsoft co-founder Bill Gates, who built their companies from nothing.
Today’s business movers and shakers are highly motivated to share ideas and plans with their peers. This behavior represents a marked departure from their predecessors’ tendencies to keep information as secret as possible. As a result of this sea change,
Modern companies promote a team approach that takes advantage of the combined intelligence of the group that is greater than its parts. Facebook’s co-founder Mark Zuckerberg, for instance, does not have a fancy corner office with a beautiful view; he occupies a desk in the facility’s open floor just like everyone else.
TASKS ARE DIGITAL AND AUTOMATED
The fathers and mothers of today’s companies were raised with technology, and operating it in its many forms is second nature to them. As a result, they have taken this knowledge into their careers, using it to enhance the performance of the enterprises they have founded. Thanks to cloud-based and mobile systems, many business tasks including sales, marketing and customer relations are now streamlined and automated. Not only does this cut costs but it also gives company heads more time to engage in the activity they do best: expanding their business.
FOCUS ON THE WIDER WORLD
The internet has opened the globe to millennial entrepreneurs, giving them a greater understanding and empathy for people and situations that their forebears did not possess. As a result, many of today’s companies place an emphasis on using some of their profits to make a difference toward a cause they support. Highly respected CEOs like Nick Gross, founder of Gross Labs, for instance, has used some of his financial resources to found the Find Your Grind Foundation, an organization that supports aspiring entrepreneurs to find their niche.
In a nutshell, millennial entrepreneurs have one simple goal. They want to create innovative, technology-supported companies that enable everyone involved to work as a team as they strive for excellence and work to make the world a better place. With their knowledge, flexibility, high level of motivation and empathy for others, this generation of leaders has the potential to take businesses to a new level of success and integrity.…Read More