Millennials creating their own businesses and opportunities
Move over generation x, there is a new generation in town. They are young, tech-savvy, risk-taking – millennials.
Born in the early 1980’s to 2000’s, millennials are starting their own businesses sooner than later. They are also developing a different mentality than their parents.
Jose Loranca, a first year business administration student at Humber College says things have changed since his parents’ generation.
“Back in the day, it was get a job, climb the ladder, retire, end of story. Nowadays, it’s more encouraged to work not only as a team, but if you can do your own thing, why not?” Loranca says.
Loranca says he never worked a regular part time job while in high school. Instead he worked for Go Roofing. After moving away to Mexico for four years, Loranca returned to Canada to attend school. Once he discovered the cost of tuition, Loranca decided to put his entrepreneurial skills to the test.
“I figured I’m going to be adventurous and try something and open up my own roofing company in order to pay for school,” says Loranca.
Wayne Ferrell has been a client relations and project management professor at the University of Guelph-Humber for five years. Ferrell believes entrepreneurial skills teach students to think about all aspects of business and customers. He also notices that students contribute great ideas and work based on experience.
After Loranca opened Losa Roofing he says that it was intimidating to be a young entrepreneur, “they [clients] say who’s the boss? And it’s me, they kind of seem skeptical.”
For Elias Williams, a fourth year business student at Humber College, he says it felt like it was hard for him to land a marketing job without any experience, so he decided to create some opportunities of his own.
“If I may not have five years of experience maybe I could create one or two years of my own experience,” says Williams.
In the summer of 2015, Williams set out on his new journey as an entrepreneur. He began creating websites and editorial content for clients such as the Pakistani Armed Forces of Canada and Live from The 905.
Williams also has a sweater line, Fly 905, with a group of friends. He says he took on a leadership role and began promoting it on Instagram where they received a lot of business.
Ferrell also offered advice to millennials looking to take on the entrepreneurial world.
“You have to have an idea, you have to be able to flesh it out in enough detail with enough facts and data to make it a viable proposition so people will invest in it. Thinking like that whether you are working for somebody or you’re working for yourself, it is basically skills for the new age, especially millennials,” says Ferrell.
About the Author
Chelsea Williams is a student journalist who loves everything fashion and entertainment.
Related Posts
Students must fight temptation to start saving money, experts say →
Promoting businesses on Instagram →
Women in Business: Paving the way for equality →
