Kudos to Martha Young and her story Leadership – The Millennials Impact on Business. As a parent of two Millennials myself, let me add one note to Martha's story about business impact. Many Millennials assume everything they use comes on a subscription model, and they'll carry that “lease rather than own” idea forward as they go into the workforce.
Phone service, which means cells only to them, focus on the service at $XX per month rather than the physical phone, which can be upgraded every two years. Internet access: paid per month. Music download services: paid per month. Radio, with Sirius/XM: per month. Those Millennials out of college now have yet to buy homes, so they live in apartments paid for by the month and changed every year.
One of the big reasons for the sub-prime real estate shenanigans was the push to create an “ownership society” and put people into homes with mortgages. This current housing hole will do little or nothing to create a positive image of home ownership for Millennials old enough to start thinking about buying. Why buy a home when it gives you so much pain? Use your subscription phone service to find your next subscription apartment and drive there in your subscription leased car.
Save your computer files on a subscription backup service, arrange your social life on subscription Facebook, your business life on subscription LinkedIn, and your dating life on subscription eHarmony. Where's the love ownership? Find someone you like? Move in together, the subscription model, rather than get married.
If your business caters to younger customers, the Millennials, think service subscriptions rather than sales. The upcoming generation seems far more used to dollars per month for everything than ownership.
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Understanding Millennials
This article is very helpful to me in understanding millennials. Business people as a whole don't know how to deal with the new influx of millennials and their expectations. There are many issues and concerns on both sides - see my article on http://blog.startupprofessionals.com titled "Facebook or Faceoff" for some specifics.Marty Zwilling, Founder & CEO, Startup Professionals, Inc.
Confusion about millennials
Confusion about millennials since long time but little bit clear out, and yes coming generation may more fast.Real estate Florida