Tag: GenY

Then Comes Generation Z

USA Today ran a story by Rebecca Walker on the entrepreneurial nature of Generation Y.  They have three interesting profiles on Gen Y entrepreneurs.

Here are my thoughts that I shared with the author for this story, which regular readers have heard me say many times:

Generation Y is the most entrepreneurial generation ever. Parents raised their children to be independent. This generation feels a general sense of distrust for large organizations and government.

What will be really interesting to watch over the next decade or so is the next generation coming along — Generation Z.

These are the children of Generation X.  They share some characteristics with Generation Y.  For example, they seem to view entrepreneurship as a perfectly normal career path.

But they have some fundamental differences.  Unlike Generation Y, they will probably not be seeking balance and meaning in life from their careers.  They are driven, high achievers.  They are the first generation for whom the constantly connected, social media world is ubiquitous.

Should be a fun ride as they start to enter university programs like ours.  We will need to be adjusting our programs and probably our expectations as this group begins to replace the Gen Y folks in our classrooms.  They will challenge us to integrate technology and social media in our classes.  They will be looking for more high growth opportunities than the Gen Y folks have..  And we will have to get comfortable with their multi-tasking personalities.

This may be about the last generation I teach.  By the time they have worked their way through the system it will about time for me to open my bait shop.  I will always be teaching in some fashion.  I will continue writing and will certainly honor the life time warranty I offer my alumni.

I will be leaving the next generation — will they be “Generation AA”??? — to my younger colleagues.  Who knows what they will bring into this world!

Patience

Monroe Carell, former CEO of Central Parking,
talked to our students this morning about his journey of taking the
eight parking lots his father owned and turning it into the largest
parking company in the world.

It was interesting to hear him talk to our students about the
importance of patience, especially given the impatience of GenY where can i buy topiramate that I
talked about in my recent interview with Inc magazine. He
believes that patience is probably the most important trait of
successful entrepreneurs. I agree. This will probably be the biggest
lesson that the entrepreneurial Generation Y will need to learn if they
hope to be success over the long-run.

The Virtue of Impatience

Thanks to Donna Fenn for the nice comments about our program here at Belmont in her article published in Inc about the entrepreneurial –and impatient — nature of GenY:

Now, says Jeff Cornwall, who runs the program at Belmont,
“it’s a whole new world.” Fully 40% of undergrads come to Belmont with
businesses already started — an astounding number. “So we try to make
learning so relevant to their businesses that they don’t want to
leave,” he says. “A lot of what drives them is impatience. They want
fulfillment and success and they’re not willing to wait 10-15 years.
They want it today.” It’s a trait that may make GenY difficult to
employ, but that could bode well for their future entrepreneurial
success. What do you think? Is impatience an entrepreneurial virtue?