Today I read a fantastic article in Inc Magazine that asked 10 ‘Millenials’ what constituted the most effective qualities of a leader. I found it completely and utterly fascinating. For starters, I’ve never heard the term ‘Millenials’ before (I’m a Gen X myself) and the thought had never really occurred to me that their opinions and work ethics were given more weight in recent time from a corporate stand point.
Millenials are now in their mid-30s and are fast becoming a force to be reckoned with in the marketplace in terms of leadership roles, entrepreneurship, ideas, buying power not to mention the ever importance of political preference which more are tending to take a strong interest in. Just look at the likes of Mark Zuckerberg and Sean Parker and I guess this indicates the drive and fresh ideas this generation brings to greater society now. Facebook is fast becoming as essential as a smartphone now and it is now almost inconceivable as to how we did without them so few years ago.
So how does this translate to you and your business and what you are trying to achieve either in your network marketing business or in whatever venture you are in creating wealth? I feel this particular market segment will be just as if not more critical to all of us from not just an economic perspective, but a social, relational, psychological, medical, professional standpoint than the Baby Boomers have been for the last 60 odd years.
We all are abundantly aware of how important it was 10 years ago to focus our attention to what the Baby Boomers were doing and interests were in order to create a wave of demand that would see our businesses soar. I believe an even bigger wave is coming with the Millenials. They are very confident and sure about what they want to see in the world and probably more so than ever before, they are ideologists. My parents’ generation were stout – and continue to be so – industrialists. Work a 40 hour week, for 40 years of your life, for preferably the same boss, then retire on 40% of that income on a Government handout that you’ve worked to be entitled to. It is what it is. Problem with that is – and I think the same applies to wherever you live – there aren’t enough people working to support this generation in retirement. Only a relatively small percentage are self-funded.
Millenials are not interested in buying into this antiquated model of living. They are fast changing the entire collective conscience of what is possible and how to live ones life. I know – I live with one. And there is barely a day where he doesn’t do something that utterly astounds me (and I know that is going to sound biased because he is my partner). But it’s the same with most people that he works with. There’s always going to be those who are still living the “industrialist consciousness”, however most of the people my partner associates with are striving to do better and bigger things constantly.
Is all of this information interesting? Of course. Is it essential to know from a business and wealth creation point of view? You bet!! So now I will be making it my business to target my marketing campaigns towards this market segment and to take greater notice and watch closer to what they are thinking, what they are reading, how do they spend their money, where do they live, what do they aspire to and how to best serve them. There is a wave coming and if you are not prepared, you will either get washed away or miss it completely.
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