Here’s what you can learn from Gen Z entrepreneurs

Buckle up, you’re in for a ride. Working with Gen Z-ers (anyone born between 1997 and 2012) can be quite the experience, from their work ethic to killer confidence – these digital natives can teach us a lot when it comes to running and growing a business!

 

Gen Z-ers are not afraid to try new things

Let’s face it: Gen Z-ers are great at adapting, and they’re not afraid to try new things. Give them a laptop and Wi-Fi, and they could probably work from the moon if they really wanted to. 

Why exactly? Well, it may have something to do with the fact that they understand that failure isn’t the end of the world. This generation has a great deal of confidence in themselves and their abilities — so much so that they’re willing to take on challenges even if it means failing at first.

Try it for yourself: 

  • Adapt a “fail forward” mindset. When you start looking at things from a growth perspective, you relieve yourself from the pressure to succeed.  
  • Visualise courage. Fear of failure can paralyse you to not take action. It’s been proven that exposure is the key to overcoming your fears. Take some time to imagine yourself taking action.

Gen Z-ers can’t be stuffed with excuses

If you’re struggling with your business and need to find ways to improve it, look no further. Consider working with Gen Z-ers on your team! They will help you by providing honest feedback and finding time-efficient solutions to your workflow, coming up with business funding solutions, and cultivating company culture- you name it, all with the help of their tech-savvy skills. 

Try it for yourself: 

  • Take the time to do an honest (like really honest) self-review. Are there any key skills that you’re missing? Perhaps you lack the resources or business funding. If so, hire someone to fill the gap or, if you can’t afford it, try to cultivate a lifelong learning mindset to build on your weaknesses. Take courses, watch YouTube tutorials or simply ask your Gen Z team member to teach you their ways!
  • Have inviting and open brainstorming sessions with your team. You never know where good ideas can come from!

Gen Z-ers are not afraid of hard work

Tying in with our previous point, it’s clear that Gen Z are not afraid of hard work. Having witnessed events like the 2008 Recession, Gen Z values the financial stability and monetary success that comes from hard work.

On the other hand, they also enjoy a healthy work-life balance and value mental health. Working with a Zoomer will motivate you to graft hard but also understand that productivity can come from things outside of work. 

Try it for yourself: 

  • Cultivate a work culture with a healthy work-life balance. Encourage open discussions about mental health, flexible working, and PTO. This may sound counter productive, but the right employees will work hard regardless. Remember, happy employees are good employees. 
  • Track your team’s hours to ensure that people aren’t under-, or overworking themselves, and find ways to streamline processes. 


Gen Z-ers are tough and like responsibility

Perhaps one of their best traits, if a Gen Z has an idea, they aren’t afraid to share it! Fortunately, they’re also open to feedback and constructive criticism because they want to improve on their work and feel like they’re making a valuable contribution to their team. 

Try it for yourself: 

  • For your business to grow, you’ll need to give your employees responsibilities. Not only will this take pressure off of you, it will also allow your team members to feel more valued and committed to your company. 

 

Gen Z-ers know how to use their (social) networks to achieve their goals

Gen Z-ers know how to network on their terms. Having grown up with social media for the majority of their lives, they know how to navigate the digital world. If they need a job, a contact, a supplier, access to business funding, or any other query they’ll Google, DM and e-mail their way to a solution. They have a unique approach to building relationships and know how to connect on an emotional level online. 

Try it for yourself: 

  • Leverage your social media and lead the way. Connect with industry experts, mentors and potential clients by representing your business’s mission online.
  • Motivate your employees to become ambassadors of your company. With your extended connections, you’ll likely have thousands of people in your company’s network!

 

Gen Z-ers view money differently

As we mentioned earlier, Gen Z-ers mark a shift in financial concerns and purchasing behaviours. They’re aware of financial literacy and want to become better at it, educating themselves with the help of the internet. What’s more, these Zoomers have an extremely ambitious outlook towards their financial timeline, with over 45% expecting to be homeowners in the next 5 years and 35% already having started a business. 

The good news is Gen Z-ers have choices to help them alleviate some of the problems ahead, like EPIC BIZ FUNDING by Fundrr! Apply here quickly and easily to get Fundrred within 24 hours! 


Conclusion

As we explore the behaviours of our newest generation entering the workforce, it’s important to consider how businesses are changing and evolving on a global scale. A new way of business calls for the return of the Jack-of-all-trades type of person. 

What we’re referring to is a multifaceted person with many areas of interest, knowledge and skills that will help to combine the elements of digital innovation, risk calculation and creativity within your businesses. And Gen Z seems to offer it all!

 

Sources:

The Annie E. Casey Foundation, “What Are the Core Characteristics of Generation Z?”, 12 January 2021

Arthur C. Brooks, “Go Ahead and Fail”, The Atlantic, 25 February 2021 

Rick Munster, “Gen Z and Money”, Money Fit, n.d. 

Talisa Carlson, “Millennials and Gen Z adapt well to change — what is their secret?”, Media Update, 29 April 2020

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