If you use any social media – especially Facebook, you probably see a sponsored ad at least once a week about starting an internet business. It’s the era of ‘internet gurus’ selling you on the idea of making passive income and stretching out at the beach on a daily basis. One of the most notable gurus is Tai Lopez, you know that guy that is on every damn Youtube commercial that starts by saying “Hey guys, just here in my garage…” then he conveniently shows his Lamborghini in the background. These internet gurus are making millions of dollars peddling the idea of making money online. But why is it so popular?
Flexibility And Work Life Balance
Millenials, anyone born between the early 80’s and mid 90’s have a very different work ethic than baby boomers. A recent study shows that millennials care more about flexibility and work-life balance than prior generations. However, in the current work climate, many jobs still have rigid schedules, lack advancement and offer little pay. This unpleasant work climate is why the idea of starting and internet based business is so appealing to young people. It offers the chance to work from home and have a strong work-life balance. It also provides the opportunity to advance yourself and determine your own pay.
The Opportunity For Creativity & Expression
In addition to the need for work-life balance, many millennials want the chance to express their creativity through work. I think it would be fair to say this generation is more open to creativity than prior generations. In the past, baby boomers were more likely to be happy just having a job that put food on the table. Going into the office and doing a default position such as filing paperwork or being an accountant was enough fulfillment as long as they made money to support a family. Millenials, however, need creativity and a recent study showed that 73% of Millenials consider themselves creative. Owning an online business is a great vertical for creativity from designing a product, website, logos, graphics, writing, and marketing – there is no shortage of creative opportunity. y
True Financial Opportunity
Salaries right now are incredibly stagnant. A study posted on ThinkProgress shows that productivity has skyrocketed over the last decade, but salaries have not. Most of the benefits of increased productivity have gone straight to the company owners and not back into the worker’s pockets. This disparity leads to the logical conclusion that starting your own business will result in the rewards coming back to you instead of your employers. The other side of the productivity to salary disparity is the fact that the essentials in life are exploding in price. Health insurance, rent, utilities, child care costs and mortgages are all becoming un-affordable to the Millenial generation. The most intelligent thing to do when facing this reality is to find a way to make more money than what your average employer is willing to pay.
The best way to summarize why Millenials are starting online businesses, and perhaps why you should also is that; You can spend your life building on someone else’s empire, or you can build your own empire. There has never been a better time than now to start your own venture thanks to the internet.