Millennials are known for many things such as being civic-oriented, conscious, and the largest, most diverse generation in history. But analysts say this generation is missing one thing, their willingness to take risks.
To some, this is seen as a problem. Studies show that our youth puts us in the best position to take risks but we look for security instead. Economically, millennials struggle and cannot afford to risk it all on uncertainty. However, risk avoidance and cautiousness does not help stimulate the economy, innovate technology, or produce many entrepreneurs.
According to a survey by Babson College, 41% of 25 to 34 year olds state that their biggest roadblock to starting a business is the "fear of failure." In today's business world, most would say to "embrace failure" rather than seeing it as a fear but not to millennials. Studies show we prefer to get it right the first time rather than stumbling and starting again.
Check out Barbara Corcoran's speech at Entrepreneur's Growth conference. Although it's fairly long, I encourage you to choose at random five minutes to watch and you'll want to watch more. Her words are both inspirational and motivational and she encourages people to put themselves into situations where they might fail and then learn how to bounce back.
2 min clip of speech
Whole Speech
I agree with your article because I don't personally take risks. Even though you are taught to leave your comfort zone to reach goals and tasks but as whole I do believe we look for security rather than taking a risk to get something accomplish.
ReplyDeleteGreat article, you must be able to take risk in your life and career. I feel as though sometimes you have to step out of your comfort zone to get ahead or else you will become complacent with things in your life.
ReplyDelete- Shadae Perry
I agree, we need to not fear failure and go out on a limb and take the risk because if we don't, we will never know what could have come of it.
DeleteLove this topic. I believe the millennials don't take the risk that they should. We look for stability and shelter because we feel as though theres things we cannot risk and afford to lose. I feel like if we did take those risk we are afraid to they can honestly have great outcomes. The fear of failure is REAL and thats what hold back a lot of people from achieving or going after something they really want.
ReplyDeleteThis topic article is definitely necessary and our generation is taught to be content with the comfort of security rather than the possible rewards of taking a risk. It will be interesting to see the impact that this will have on stimulating the economy like you said.
ReplyDeleteI believe that this is an extremely relevant issue. I've noticed that our generation often becomes content with being comfortable. In order to grow, you have to step outside of your comfort zone and take risks. By not taking risks, one will stunt their own growth in any aspects of life.
ReplyDeleteGreat blog, I personally find it hard to take risk but it is something I always want to do. Just a little hard to come around.
ReplyDeleteGreat topic, I am personally more cautious and find it difficult to take risks sometimes. I do prefer to get it right the first time. I know these aren't good traits because growth doesn't come from being in your comfort zone.
ReplyDeleteI really do appreciate Mr. William for speaking to the class. His experience motivated me to make many accomplishments in life. Thank you for allowing him to speak to our class.
ReplyDeleteBeing an aspiring entrepreneur I wholeheartedly appreciate this topic of discussion because I can relate to it. I agree that millennial avoid risks. The probability of failure at one point frightened me but once I let go and let God it didn't seem so nerve wracking. Who am I ultimately failing anyway, myself? Thank you for this topic, good job!
ReplyDeleteRisk taking is extremely important when it comes to opening businesses. I enjoyed this blog because it makes me think about the steps I need to take. I believe getting things right the first time is important but taking risk also helps you learn what route to go and help with lessons learned
ReplyDeleteWhen becoming an entrepreneur all you think about and encounter is risk, that's why this field may be scary to enter into. Nothing is wrong with security, but with risk you have a chance to win big. I recommend taking educated risks, taking risks that have some security.
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