Millennials are stepping into entrepreneurial positions, and their typical character traits make them perfect to run a business in the Florida Keys. Let’s discuss why Millennials are well-suited for running a business in the Florida Keys.
Millennials Structure Advancement Differently
Millennials consider career advancement as the most important aspect of a job. This advancement looks different for Millennials than it did for older generations. Millennials aren’t as concerned about earning promotions based on seniority. Millennials believe in creative, quality work. They see a willingness to contribute to the company as a team member as more valuable than seniority. Because of this, Millennial-owned businesses tend to use a flatter structure in which businesses have a more democratic group management format with fewer leadership roles. This business structure keeps their employees satisfied and more willing to engage rather than just put in their time.
Millennials Understand Mobile Technology
Millennials are the largest group of consumers and they easily understand the technology it takes to market to their own generation. They fully understand mobile technology and are able to easily adapt to new technology, new social media, and new forms of commerce. They have a keen understanding of digital advertising. To make this point clear, we only have to see that Millennials spends over half of their marketing budgets on digital media while baby boomers devote only 14 percent of their marketing budgets on digital media.
Millennials Are Prepared For Disasters
Most Millennial small-business owners have a disaster plan in place in case of disasters like floods or hurricanes. Less than a third of Gen-X or Baby Boomer small-business owners have disaster plans ready to go. This kind of planning helps secure the future of their small businesses no matter what disaster is thrown at them. Importantly, they even purchase insurance and have plans to protect their data and technology following a disaster.
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