“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the efficiency.” ~As said by Bill Gates,
The fourth industrial revolution is knocking at the door. Automation and artificial intelligence are changing businesses’ dynamics and bringing new challenges.
The success of any business depends on several factors. Some of these factors are leadership, vision, strategy, teamwork, innovation, competition, and delivery. Millennials are considered the most entrepreneurial generation. Most of the millennials have side hustles while doing their job. The quest of having financial security is the driving force for millennials to start their businesses. This entrepreneurial mindset is so healthy that some millennials are ready to risk their stable jobs for the sake of their own business.
Why are millennials becoming entrepreneurs?
The millennials are different kinds of breeds who want to know and explore things independently. Their mind is ready to take the risk for their business or startup. This generation
prefers to work in a team setting with friends. Sometimes it is relatively easy to deal with this generation; however, it becomes complicated.
The innovative mind and spirit to deal with the challenges are two main driving forces for the millennials’ entrepreneurial mindsets. Leaving their comfort zone excites them. The fourth industrial revolution is bringing new challenges and opportunities for businesses. The products and services provided by the creative and passionate mind impact society and bring visible changes in society without any discrimination. The new services are different from the traditional services; they reduce their dependence on the existing ecosystem and technology. For an entrepreneurial mindset, possibilities are always endless.
It is our time to make a change;
Michael T. Thomas