World problems such as climate change and poverty hold tremendous opportunities for innovative millennials.
In fact, technology advances so rapidly enabling innovative ways of everyday living – faster than ever thought before. However, this growth of technology comes at a price to our youngest generation – or so we thought?
Read more about technology and how it will affect humans in the future in my previous article: How humans will evolve in the future
One fact we all know already and probably fear: the better our technology becomes, the fewer jobs will be available for young people to start a career.
Finding a lucrative profession during a recession is possible only for a few, but the majority is trapped in low-income jobs.
According to the global opportunity network:
Around 75 million youth globally are looking for work; a few have already given up hope they will ever find a job. In the next ten years, a further billion people will enter the working age. High youth unemployment implies slower economic growth and lower tax receipts. Furthermore, countries with prolonged elevated levels of youth unemployment are far more vulnerable to social instability.
Global disasters such as hurricanes and floods will likely intensify in the future, partly due to global warming, as we have already seen through Harvey and Maria.
These catastrophes have a devastating effect on low-income communities. However, there are lots of opportunities for entrepreneurs to make a difference.
I am not talking about donations or volunteering, although they are needed, too. But rather clever inventions of fresh water supplies, innovative food systems, education, healthcare, and affordable, smart architecture housing projects just to name a few.
The rise of robots come at a price to our millennials
The source of youth unemployment is much deeper than one might think. We are entering a new universe of work.
The implementation of robotics technology, artificial intelligence, quick job switching, self-employment and cellular work are all aspects of the world these days.
Best examples are Siri, the voice of the Apple’s iPhone. The largest corporations already adopt this type of technology like American Express, Geico, and others.
The increase of robots means factories are running but not recruiting. The mid-level of the labor market is decreasing, while low-income occupations and high-end jobs continue to be in demand.
To top this the new world of work is also marked by unemployed growth, with unemployment staying stubbornly high even as markets grow. The technological invention describes part of the trend, but not all.
It’s in the hands of the educational system, corporations, and governments, to create opportunities such as incubators for young people to learn and adopt an entrepreneurial way of thinking.
On the other hand, the global opportunity network calls it: A generation wasted. Pretty harsh, however, a wakeup call for our youngest generation to buckle up and focus on what’s important.
Self-employment is a portion of the new workforce reality.
The web is making competition over assignments internationally, with the outsourcing of jobs online instead of hiring in-house.
In 2014, more individuals in the UK and US were self-employed than at any point over the past four years.
For all millennials and generation Z individuals who are thinking of becoming an entrepreneur, but fearing that the timing is not right; read Tim Ferris quote below from his book “The Four Hour Workweek.”
By the way, his book the “4-hour workweek” is an absolute must-read for millennials who want to work smarter and not harder.
“For all of the most important things, the timing always sucks. Waiting for a good time to quit your job? The stars will never align, and the traffic lights of life will never all be green at the same time. The universe doesn’t conspire against you, but it doesn’t go out of its way to line up the pins either.
Conditions are never perfect. “Someday” is a disease that will take your dreams to the grave with you. Pro and con lists are just as bad. If it’s important to you and you want to do it “eventually,” just do it and correct course along the way.”
― Timothy Ferriss,
Being your own boss demands an entrepreneurial spirit to stay in business and includes a great deal more uncertainty than a job. However, owning this spirit combined with a clear vision and focus represents a great opportunity for millennials to make a “dent” through entrepreneurship.
The new world of work creates an opportunity for an educated, flexible, and technologically advanced generation – everyone else seems to be left behind.
That is a major concern. However, there are still opportunities to land a meaningful job to individuals that want to make a difference in the world.
A study, conducted by an independent research firm and commissioned in partnership by Upwork and the Freelancers Union, surveyed more than 6,000 U.S.
workers to answer questions and more. Results showed that more people than ever are choosing to freelance – 55 million this year, or 35% of the total U.S. workforce.
If the trend goes on, the future will hold fewer jobs, but a lot of work.
Focus is the new tool to beat Social Media distraction
Many millennials live at the mercy of social media madness. The smartphone, although necessary, has become a part of the body or so it seems…?
Every Facebook notification is eagerly noticed and commented on. Tweets and emails are instantly read.
To be fair, it’s not only millennials who watch their social media notifications 24/7, it’s almost all of us, including myself. Although, I have found a way to control this urge, more on this in a later post.
Studies have confirmed that people tend to undergo a kind of withdrawal: A study a few years ago from Swansea University found that people experienced the psychological symptoms of withdrawal when they stopped using (this went for all internet use, not just social media). Their recent follow-up study found that when people stop using, they also undergo small but measurable physiological effects. Forbes
Other recent studies have shown that the average worker spends 50% of their work time checking social media news.
Where has our focus gone? Without focus, our work has no value, and that’s what differentiates the successful from the average.
Focus – A habit worth learning
Focus is also the new trend among a few who are trying and succeeding to make “a dent in the universe,” as Steve Jobs used to say. We know millennials want to make a difference, but quite often they don’t know how.
Implementing a new habit in our daily routine could make the difference between success and failure. By using the first 2 hours in the morning to focus on the most critical tasks of the day, without any interruption. I learned this trick from Robin Sharma.
Millennial entrepreneurship holds the key to a better world
Entrepreneurs, currently, creating more jobs than any other segment. Millennial entrepreneurship seems to be an alternate path compared to the traditional corporate world.
Combining the two might result in revitalized opportunities for young people and large corporations to stay longer in business.
Millennials favor meaningful work more than a tedious cubicle job from 9-5. It is essential to them add “value” to any company.
Taking this desire into an entrepreneurship makes them ideal candidates to solve the world problems.
Even large corporations must adjust to the rapid change of technology
With the current pace of technology, many established corporations are forced to make drastic changes or face to lose market share.
However, running an internal incubator gives businesses an advantage – should the market move, the company is ready to change directions or grow a new branch quickly.
Large corporations who offer structured incubators to young adults often benefit from the ideas generated, which in turn also serves the millennial entrepreneur.
When it comes to innovation, our millennials are best suited to cope with the exponential growth that lies ahead of us.
The Future is Better Than You Think
Millennials have an opportunity to create a future of exponential growth that couldn’t have been possible decades ago.
Because of the speed that technology advances, millennial entrepreneurs are in a unique position to create solutions to solve the worlds most significant problems and hence make a fortune.
Peter Diamandis writes in his new book: “Abundance, the Future is Better Than You Think,” about the opportunities for entrepreneurs to change the world for the better.
He firsts describes all of the world s challenges and then creates an in-depth list of how to tackle each problem.
Catch a glimpse of what the future will hold by watching this 2-minute trailer.
Top ten challenges and opportunities for millennial entrepreneurs
One – is a challenge and ten – the opportunity to make it big and make a difference in the world through entrepreneurship.
- Distracted – Millennials seemed to be distracted 24/7 by social media. However, others call them the best collaborators.
According to World Technology Report from Cisco 2014. 82% Human Recourse professionals believe that millennial employees are better performers when it comes to computer software, mobile devices, and apps.
- Connected – Millennials are connected 24/7 which aggravates certain employers.
However, because of their connections to various networks of friends and colleagues, they obtain new trends and knowledge.
Millennial entrepreneurs are always well informed, which equips them with any potential upcoming opportunities.
- Misunderstood – The baby boomers have trouble understanding a “millennials” way of life.
Two different generation are clashing, where one doesn’t understand the other.
That doesn’t mean they can’t work alongside each other. If both generations are open to dialogue, in most cases great things will follow.
- Resourceful – Nobody is perfect and nobody knows everything, hence if you ask a millennial any question you surely get an answer.
- Problem solver – Most millennials want to live a meaningful and purpose-driven life. That makes them ideal candidates for solving problems.
- Mentor-able – This young generation wants to be mentored. Because they are great problem solvers they are also good at taking advice. That makes them, in turn, great future mentors.
- Engaged – Millennials who are engaged are also more productive. When it comes to technology, they are behind the eight ball. Millennials perform especially well when given a deadline.
- Multi-taskers – Here again, productive people are also efficient multi-taskers. In the perfect environment, millennials will thrive and excel.
- Tech-savvy– There is no question, millennials are one of the most tech-savviest people in history.
- Innovative – Millennials who become entrepreneurs are curious and eager to learn more.
With a focused mindset on the end goal, this generation can solve the worlds biggest problems.
They are also the generation to cope with the exponential growth of technology, AI, 3D printing and bio…
Resources for millennials to become “Futurepreneurs”
Futurpreneur Canada was fueling the entrepreneurial pursuits of Canada’s young enterprises for two decades. They are the only federal, not-proﬁt business that provides ﬁnancing, mentoring and support tools to aspiring entrepreneurs aged 18-39. Their internationally recognized training program connects young entrepreneurs with a business specialist from a community of over 2,800 volunteer mentors.
Youth work in Europe
Europe’s Youth Work is an Innovative area offering opportunities and space for young people to form their future. It also plays a very significant part in encouraging the youth to learn accountability and get involved in shaping society.
A Youth Program for Green Entrepreneurship and Employability – a project that aims to help young people to find new professional opportunities, by developing entrepreneurial skill sets and attitudes in the Green Economy Industry,
Startup Village Collective
Their program is exclusively for software startups, which can be built while in college and the platform enables one to learn from anywhere.
Founded in 2009 to facilitate and support the rise of the global fab lab network as well as the evolution of regional capacity-building organizations. The Fab Foundation is a US non-profit 501(c) 3 company that arose from MIT’s Center for Bits & Atoms Fab Lab Program. Their mission is to give access to the resources, the tools and the monetary means to educate, innovate and invent utilizing technologies and digital fabrication to allow anyone to make (nearly) anything, and thus generating opportunities to enhance lives and livelihoods around the world.
MASS empowers emerging leaders with a methodology and technique that can be replicated worldwide. The organization passes on the knowledge through courses, lectures, and hands-on skill-building workshops. Throughout the building process, they cooperate with the communities that those buildings will serve. They design solutions comprise of architectural as well as landscape design, master planning, engineering, and strategic planning.
The “entrepreneur” is the largest resource of entrepreneurship, startup ideas, franchises and business opportunities.
SU mission is to inspire, educate, and enable to apply exponential technologies to address humanity’s grand challenges.
“Creating abundance is not about creating a life of luxury for everybody on this planet; it’s about creating a life of possibility.”
Co-founder, Singularity University
I believe millennials hold the key when it comes to entrepreneurship and making the world a better place. Creating a vision and never deviate from it is the key to success in my opinion. Entrepreneurship seems to be the only way forward providing Millennials with the need to make a difference and the chance to make it big.
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