Hey there, Monsters!

You probably know by now that I think labels don’t make sense, but they are important to help us understand each other better. Gen Zers are the new kids on the block who seem to reject corporate norms with incredible vigor. They defy tradition at several levels: whether it comes to dress code, office hours, hierarchies, communication styles, and much more. They seem to be more comfortable in a start-up environment… but are they really? So join me as I delve deep into the fascinating world of Gen Z entrepreneurship. Let’s uncover the dynamics driving the entrepreneurial spirit among Zoomers!

You’ve probably come across headlines painting Gen Zers as the next generation of CEOs and founders, with surveys indicating that a significant portion aspire to start their own businesses. It’s an enticing prospect, especially in a landscape where access to venture capital is on the rise and traditional educational pathways are being re-evaluated. But beneath the surface lies a more nuanced reality.

Despite the allure of entrepreneurship, many Gen Zers are ultimately seeking stability in an economy rife with challenges. While they might dabble in side hustles, our data reveals that the majority prefer the security of permanent employment over the uncertainties of freelancing.

It’s essential to recognize the historical context shaping Gen Z’s entrepreneurial journey. Much like their millennial counterparts, Gen Zers are navigating an economic landscape fraught with uncertainty, grappling with student debt, inflation, and soaring housing costs. The road to entrepreneurship is anything but easy, often requiring years of perseverance and resilience to transform aspirations into tangible success. It is no wonder that the current economic reality leaves Gen Zers stressed, anxious, and pessimistic when it comes to their financial future. Seems like job security is playing a key role in this young cohort of employees, making me think that they aren’t much different than their Baby Boomer or Gen X colleagues, who, according to multiple surveys, also prioritize stability in the long term.

However, there’s no shortage of opportunities for Gen Zers to make their mark in the business world. Whether it’s through cultivating side projects that evolve into full-fledged ventures or spearheading innovative initiatives within corporate environments, the entrepreneurial spirit thrives in myriad forms.

Moreover, entrepreneurship isn’t confined to founding a startup; it’s about seizing opportunities, thinking outside the box, and driving change wherever one finds themselves. Whether it’s pioneering the adoption of cutting-edge technologies or championing sustainability efforts within organizations, there’s ample room for Gen Zers to showcase their entrepreneurial prowess.

What’s more, global CEOs are increasingly recognizing the importance of fostering a culture of innovation and new business development. With over 50 percent of CEOs prioritizing new-business building, the stage is set for aspiring entrepreneurs to carve out their place in the entrepreneurial landscape.

There is a term I would like to draw your attention to – intrapreneurship. Intrapreneurs are employees of established businesses who act as if they were leading their own business. They take the initiative, create, innovate, and lead the change with dedication and passion. But unlike their self-employed buddies, they enjoy the stability of a full-time job: the pay, the benefits, the access to talent, and funding. The entrepreneurial journey is about embracing challenges, seizing opportunities, and making a meaningful impact on the world around us.

So, Gen Z employees might be our CEOs’ new best friends. They might be the key to revolutionizing industries, pioneering new ways of working, or bringing new products or propositions to market. However, for this to happen, we all need to change a little bit. If we continue applying the old leadership model and keep young employees at arm’s length, it will be extremely hard to engage and retain this intrapreneurial cohort. That is why we need Leadership, but not just any leadership. I like to call it New Age Leadership.

If you’d like to learn more about New Age Leadership, order my book “Dear Monsters” here. If you want to take a deep dive into the New Age Leadership principles, I am running a leadership retreat in Mallorca for female leaders and business owners, and you can apply here.

Until next time,

Helena