How Generation Z entrepreneurs will shift the small business world …
How Generation Z entrepreneurs will shift the small business world
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Book source :books:
Scholarly article :pen:
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Risks and Threats
How to become an Entrepreneur(
"They must also be able to handle risk. If the thought of not getting paid on a regular basis, failing to sell your product, or simply falling flat on your face frightens you to paralysis, you may have difficulty dealing with the up-and-down nature of entrepreneurship."
Risk is often the major reason why people avoid becoming an entrepreneur, but consider this: someone who works for a company has one source of income: their employer; while an entrepreneur has many different sources. If the employee gets laid off, they are out of a paycheck, but if an entrepreneur loses a customer, they have many more to fall back on. When managed properly, being an entrepreneur can actually be one of the safest careers possible
There are some certain traits, qualities, and values that most successful entrepreneurs share. While they don’t guarantee success, certain entrepreneurial characteristics lay a strong foundation for life of risk-taking and reward
:books:"Start Something That Matters"(Blake Mycoskie)
"When you have a memorable story about who you are and what your mission is, your success no longer depends on how experienced you are or how many degrees you have or who you know. A good story transcends boundaries, breaks barriers, and opens doors. It is a key not only to starting a business but also to clarifying your own personal identity and choices.
A well told story is way more powerful than smothering your audience with facts and statistics. People make decisions based on facts that are important to them, not just general facts.
:desktop_computer:"How to sell a tale: the power of stories in marketing" (Katelyn Piontek)
"storytelling is ‘the process of making a connection with the customer first, and selling a product second."
"It’s one thing to know that stories have power and that stories sell. You also have to know how to practically apply this to your marketing campaigns"
"Lists of products, features and prices are forgettable. Characters connect with customers, the conflicts relate to their needs and the themes remind them why your brand is one they can get behind."
Changes in technology
:desktop_computer:"How Entrepreneurship has changed in the 21st Century?"(Donya Zimmerman)
"Small Business is really growing and booming in the 21st Century because many people are opting for small business opportunities over working for large companies."
"Many societies are starting to realize that the best way to improve their economic conditions is by assisting their citizens with starting their own businesses."
"Another reason why it has become easy for individuals to become successful entrepreneurs is due to the advancements in technology. You no longer need to have personal contact with your customers as a business. You can now do business with someone in another country from the comfort of your own home. It does not cost a lot of money to start a business in the 21st Century."
:desktop_computer: "Why Millennials and Gen Z are Going to Take the Small Business World by Storm."(Larry Alton)
"Because technology is a natural part of their daily lives, younger entrepreneurs are going to be quicker to spot opportunities for tech to improve everyday tasks -- or even to invent ways to improve existing technology."
Take the example of Ben Pasternak, who parlayed a hobby into a business. His love for gaming and apps helped him develop programming skills, as well as a good sense of why and how his peers use apps.
Gen Zers surveyed use technology to broaden their horizons and learn about the world around them, but they also expressed the belief that technology will help them realize their ideas.