Why Gen Z Is Thriving in the Entrepreneur Life

Older generations have often viewed entrepreneurship as a risky career path, but for Gen Z, it’s the opposite. Gen Z is quickly establishing itself as one of the most entrepreneurial generations to date, with a growing number choosing this path for various reasons, including independence, work-life balance, and the desire to make a positive impact.

A Shift in Mindset: Entrepreneurship as a Career Path

• Entrepreneurship over Traditional Careers: Many Gen Zers are rejecting the traditional path of college education and corporate jobs in favor of entrepreneurship. They see it as a way to gain independence, control their own schedules, and bypass the rigid structures of the traditional workforce.
• Social and Ethical Motivation: Social entrepreneurship is particularly attractive to this generation. Many Gen Z entrepreneurs aim to address social, environmental, and ethical concerns through their ventures, aligning their businesses with their personal values.

Economic Challenges Are No Barrier

• Economic Instability: Despite the economic challenges faced by Gen Z, including high housing costs and tough job markets, many are undeterred in their entrepreneurial pursuits. According to studies, 39% of Gen Z entrepreneurs aim to start another business, and many use personal savings to fund their ventures.
• Tech-Driven Startups: A majority of Gen Z businesses either started online or had a mobile component. This generation, having grown up in the digital age, is capitalizing on accessible tools such as social media and e-commerce platforms to build and promote their businesses.

The Benefits of Non-Traditional Paths

• Alternative Education: Gen Z is increasingly bypassing traditional education routes, instead opting for real-world experience and mentorship from successful entrepreneurs. They recognize that success in business is often more about character, adaptability, and hard work than formal qualifications.
• Practical Experience: Gaining hands-on experience by working in the field before launching their own businesses is seen as beneficial. Learning the ins and outs of an industry gives young entrepreneurs the skills and knowledge to successfully navigate their own ventures.

Where Gen Z Is Headed

• Pursuing Entrepreneurship: This generation is determined to pursue entrepreneurship with optimism. They are not fazed by negative stereotypes and believe they can thrive in a modern, tech-driven culture. As they continue to enter the workforce, many will pursue both entrepreneurial and traditional career paths.

3 Steps to Land a Role You’ve Never Done Before

Shifting into a new role, especially one different from your previous experience, requires strategy. Whether you’re underemployed or looking for a career change, there are steps you can take to make the transition smoother.

1. Confirm Key Results for the New Role

• Identify Core Objectives: During interviews, ask about the most important results the company expects in the next month, quarter, and year. Focus on aligning your skills with these key goals to show how you can meet their needs.
• Clarify Dealbreakers: Instead of trying to meet every qualification in a job description, concentrate on the essential skills that will make or break your candidacy.

2. Prove Your Capability

• Passion Isn’t Enough: While enthusiasm helps, employers need tangible proof that you can deliver. Upskilling through online courses and certifications can help, but practical, hands-on experience is even more valuable.
• Demonstrate Experience: Look for ways to gain relevant experience, even outside of a traditional job. Volunteering, consulting for nonprofits, or working on personal projects in your desired field can demonstrate your competence.

3. Gain Hands-On Experience

• Volunteer and Freelance: Volunteering in a role similar to your desired job can give you the experience and references you need. Freelance work, consulting, or side projects also help build a portfolio of relevant work.
• Showcase Your Work: Build a personal brand by creating a website, maintaining active social media profiles, or developing a following to show potential employers your ability to execute in your new field.

Key Takeaways

• Gen Z is embracing entrepreneurship, driven by independence, flexibility, and the desire to make a positive impact.
• Economic challenges haven’t stopped Gen Z from starting businesses, many of which leverage digital platforms for growth.
• Non-traditional paths to entrepreneurship are becoming more common, with many choosing real-world experience over formal education.
• To pivot into a new career, focus on the key results a company needs, gain hands-on experience, and demonstrate your capability through real-world projects and volunteer.