Four Tips for Entrepreneurs Across the Generations

There is much discussion of late about how entrepreneurs across generations do things differently. Millennials rely more on mobile technology, Gen Xers love technology but are somewhat slower to accept newer innovations, and Baby Boomers hold out untill the bitter end on the technology front.

Regardless of whether you are a millennial, a Gen Xer, a Baby Boomer, or something else altogether, there are certain entrepreneurial truths that span the generations.

Marketing Never Stops
There is never “nothing” that needs to be done. If you are caught up on orders, have no current clients, freelance and have no current jobs, or just feel like you are done an hour early, there is always “something” you can do.

That something is marketing. Put out feelers for new work, send a thank you note or message to someone you met at a networking event, or just get on social media and do a few minutes of promotion.

Marketing never stops, or at least it never should.

Use Technology, but Keep a Proper Perspective
Different generations tend to take this to different extremes, generally speaking. One side tends to sometimes rely too much on technology, meaning they can lose the personal tough that many customers find very important. The other side can shun technology, losing out on much of the effectiveness and efficiency that it offers.

The key, as always, is balance. Use the technology of the day that is relevant to your business, but remember that people connect with people, not technology, and connection is good for business.

Pay Attention to the “Why”
Never just do something without thinking about how it will affect the business. Will it directly impact profit or move you toward your goal. Will the impact be indirect? If so, connect all the dots before action is taken.

Once you have the answers and dots are connected, carefully consider the cost versus the benefit and make certain you are using your time and your resources in the most effective and efficient way possible.

You Can Take Little Bites
You do not have to do everything at once. It is okay to take it slow and get your feet under you at each step before you move forward.

It is much better to move slowly and stay standing than to rush forward before you are ready and fall on your face. Running a business is hard. Despite differences in how they do things, the entrepreneurial spirit doesn’t change. It is brave, it takes risks, and it learns from failures. This is true across the generations.

Baby Boomers can work toward embracing technology while Millennials can listen to the wisdom their elders have gathered over the years. Gen Xers bring their own wisdom to the table and can learn from both the Millennials and the Baby Boomers. The shared entrepreneurial spirit can use a little wisdom from each group and everyone can work toward success.

Faith Stewart

Faith Stewart is a wife, mom, and freelance writer. She earned a BBA with a major in accounting and spent 10 years working in the fields of finance and accounting before pursuing her passion for helping small business owners and entrepreneurs through writing.