Just when you were starting to figure out the Millennials, here come the Gen Zers. These kids, born from the mid-1990s through the late 2000s, are poised to become the largest consumer AND entrepreneur generation yet, and they are going to seem like aliens.
Generation Z has never known the world without computers and the Internet. If you think Millennials know more about technology than you, brace yourself. These Gen Z kids are native; it’s in their blood. Connecting with them is going to be quite the challenge.
For Gen Zers, opening up a small business is a no-brainer so look out!
By 2020, a projected 50 percent of Americans will be self-employed, and you can bet a lot of them will be this younger generation, who will wonder why they would ever get a job when they can sell stuff from home by playing around on social media all day.
You’re probably getting that sinking feeling... Yet another group you have to figure out so you can keep your business afloat, right?
The only real difference in working with Generation Z is that there will be infinitely more young, hungry competition down the road. This demographic grew up building websites and marketing themselves before they even understood the concept of marketing.
It’s not only that they know how to use editing programs like Garageband (to edit music), Adobe Creative Suite (graphic design and photography), and iMovie, it’s that learning these new programs is second nature and effortless. They are unafraid to grow and change. So how do you prepare yourself for this ever-increasing competition?
No matter how quickly and easily these kids might be able to create a website and design a logo, they are not inherently able to grow a strong business by building a brand and reputation.
You need to have your own niche. This is true not just for new and prospective clients, but also for your existing customer base. When you grow your business based on a realm of expertise, it will be increasingly difficult for anyone to compete with you. You will actually scare off future competitors because you have such a hold on your corner of the world.
We call that having a badass brand!
The Gen Zers will inevitably build things they’ve already seen, playing the “me-too” game that lures in so many entrepreneurs. It will take a while for them to realize they have to create their own niche, so that gives you just a little extra time to make it happen.