One of the blogs I read on a regular basis is that of Penelope Trunk, as it falls somewhere between wisdom and an outright train wreck waiting to happen. Her claim to fame is being born a late stage Baby Boomer, she claims to know the inter-workings of Gen-Ys mind (sometimes referred to as the Millennial Generation or those born in the 1980’s). As they happen to be the thirty something workforce of the moment and what she [Penelope] thinks seems to interest some employers enough to pay Miss Trunk (not her real name) for her thoughts on the topic.
Anyway, the point of this is in one of her post she wrote that Gen Y believed that entrepreneurial pursuits were actually financial safety nets. Being a late stage boomer myself and for a decade and a half a business owner, found this paradigm shift very interesting. As in my day business ownership was more akin to a financial flyer then safety net! Actually had to do a double take when reading this passage from her post to be sure that I caught the drift correctly.
As what this shows is the shift in the capital intensive nature of starting a business as twenty years ago it was small manufacturing and logistics which reined as the business of choice. Both of these as I was in the later where VERY capital intensive under takings and not for the faint of heart or those without serious banking connections. As manufacturing off-shoring became more accepted and popular, then came services. With s shift moving down the “capital chain” it yet brought with its own Opex issues of big payrolls. However it’s always easier to talk somebody into working for you, then it is a bank to give you money even in those days.
Yet today is different, as we in essence are looking at the edge of “micro business” start-ups. As to set out on the entrepreneurial road all one needs is a domain name, web space and a laptop computer and you’re in business out of a spare closet in your house. In a way the product or service is second to the act of visiting these “micro businesses” as they are more akin to “garage sales” as you can have a pile of junk out front and the sign alone draws people in on the “chance” of a find.
As key in today’s world of ad-words and the like is to get people to “stop” as this is now more valuable than the products themselves as just look at Facebook in the billions its worth, started in a Harvard dorm room, talk about a garage sale start up. You may be asking why such a big deal as the world turns everyday and things change, that’s the circle of life here on planet earth. The key here is the 30’s something are always the ones with disposable cash in their pockets. As the 20 something’s are still low on the earning curve having just exited college carry with them student loans and the burden of starting an independent life. The forty something’s have what they need as just have been 30’s something they are simply coasting by conserving cash for the golden years. It’s a good time to be 30-Something…