According to a survey released by Bentley University last year, 67% of millennials said their career goal involved starting their own business versus climbing the corporate ladder.
Millennials are reshaping the job market, putting a focus on flexibility and innovation, as opposed to the traditional 9-5 job. As they continue to enter the workforce, there is an increase in popularity amongst certain markets.
DIY and homemade products
With the rise in websites like Etsy and Shopify, creating your own products and selling them is easier than ever.
Artists, designers, craftspeople, antique and vintage collectors, and more use these websites to showcase their talents, and make some extra money. What would have once been a simple hobby has turned into a game changer for entrepreneurial-minded millennials. Not to mention, the demand for homemade and unique products is booming. There are more and more people who want to support local initiatives and entrepreneurs.
Consulting and freelance
Freelance work is becoming increasingly popular amongst students and recent graduates. It is a way to gain valuable experience and put your educational expertise to work. Plus, it allows for a flexible and remote work schedule.
Freelancers are beginning to transform their side jobs into full-time businesses, because it allows them to escape the cubicle life, and work on their own terms.
Mobile app development
Just about everything is going mobile. They say there is an app for everything – and even if there isn’t, young professionals are determined to make sure they fill a growing demand for accessible technology.
Having the knowledge and skill-set to develop and build mobile apps is incredibly useful – when new grads couple this with the ability to create mobile friendly websites, they possess a huge opportunity to pursue an entrepreneurial venture.
The world has started to transition over to content marketing – it’s becoming one of the most important avenues for many businesses big or small. Blogs in particular are seen as one of the top 5 platforms that consumers trust the most, with brand sites and most social platforms falling far below.
With this shift in the industry, bloggers are popping up everywhere, and in every possible sector imaginable. Brands are seeing the value in hiring on bloggers, and the rise in people making blogging and content creation a full-time venture is growing.
Social responsibility is when an entity, such as an organization or individual has an obligation towards something that benefits society, whether locally, nationally or internationally. Social responsibility is said to be becoming the new religion amongst millennials and when surveyed, one in three millennials said they boycott or support businesses based on the causes they care about.
We are seeing an increase in socially responsible businesses and entrepreneurs. Whether it is through starting a business or non-profit that supports a cause, or advocating for the rights of others through online campaigns, social responsibility is changing the face of business and will continue to as millennials conquer this field.
For new graduates or students who dream of going out on their own and becoming an entrepreneur, these fields are great places to get started out in early and can teach you a lot about working for yourself, and how to develop a side project into a full-time venture.