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Topic : Gen X Vs Gen Y Entrepreneurs....
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Gen X v/s Gen Y entrepreneurs

Created by : Veena Gupta, Analyst, Blackstone Group  | 08 10 2010 06:47:13 +0000
Industry : Hedge Funds/VCs/Private EquityFunctional Area : Getting Started(Entrepreneurship)
Keywords : entrepreneur entrepreneurship startup gen y entrepreneurs .com startups gen x entrepreneurs
Activity:  716 views;  last activity : 12 18 2010 13:25:07 +0000

When it comes to starting a business there are advantages and disadvantages to taking the leap at various points during your lifetime and there are distinct differences between entrepreneurs from different generations.

Gen Y entrepreneurs, who are famous for their .com start-ups like Facebook, but equally as infamous for their entitled attitudes and over-exuberance. These young entrepreneurs are fresh out of school and have decided to take the world by storm, with or without their parents support. All of these are below 30 yrs of age and are never tired of trying new things until and unless fall flat on their face.


http://allanmcdougall.files.wordpress.com/2008/08/clip-image004.jpg

And there are Gen X, who know more than Gen Y but didn't start early for various reasons, but can manage interms of Investment and other things and are having a more balanced approach than the ad-hoc way the Gen Y are going at the moment...

So, who do you put your money on Gen Y entrepreneurs or the Gen X entrepreneurs??

  
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Gen X entrepreneurs Vs Gen Y entrepreneurs
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I would like to go with the Gen X entrepreneurs, who aren’t looking to risk it all on a roll of the dice. Instead, their business plans are much more thought out, not just to impress investors, but also to prove to their spouses and families that dropping half of the family income will work out in the long run. Entrepreneurs at this stage in their life have a lot more to lose and the opportunity cost of the salary they’ve been accustomed to will weigh heavily on their minds. So, will take the right decisions most of the time.

Gen Xers have been saving for the opportunity to start their own company. Which means they often they have their own capital to start with and can also look for funding from friends who trust their track record. Whereas Gen Yers look to start businesses on a shoestring budget or look to their parents for start-up capital.
By Veena Gupta, Analyst, Blackstone Group  08 10 2010 06:54:19 +0000
 
Top Argument
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I would somewhat contradict with Veena m'am here., if you liked Generation X, you’re going to love Generation Y, because they’re like Generation X on fast forward with self-esteem as an addiction. And they’re going to be the highest performing workforce in the history of the world. These entrepreneurs run on pure passion. They’ve learned a lot from their parents and have always been told they could do anything in the world.  With Colleges and universities having entrepreneurship programs or access to incubators and organizations, also baby boomer business leaders love to extend a helping hand to young people.
By Pravin Kumar, MBA student, DELHI SCHOOL OF BUSINESS  08 10 2010 07:05:50 +0000
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Gen X is the choice between both.
By SHRIKANT MANOHAR DANKE, Project Manager, Phadnis Infrastructur Ltd  | 12 18 2010 13:25:07 +0000
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Gen-X started form Net zero so their development was more evident. Gen-Y have Gen-X to thank and then better.
By Amritash Agrawalla, Director(Personnel & Procurement), Agya Boortmalt P Ltd.  | 08 22 2010 03:58:07 +0000
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Gen-Y (particularly in India )seems stuck on web-2 and the ways to amortize the data assets seems unclear.Gen-X have sure yieled good returns.
By SUMEET DIKSHIT, Real Estate Transactions & Advisory, Real Estate  | 08 17 2010 12:33:39 +0000
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Support for Gen X---time tested and more logical in approach--since they have gone thru the initial grind.

We know about the successes of Gen Y--good enough. But what ratio are the faliures???If you have success to faliure ration of 2:8 then it still is not working out!!!

 
By Uday R. Junnarkar, Head Vet Division, Muscat Pharmacy & Stores LLC  | 08 16 2010 13:03:10 +0000
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I am in the way to become Gen Y entrepreneur. But after lot of meetings with Gen X entrepreneurs, I can surely say that their thought is more secure than us.
By Md Abdul Quddus, CEO/MD/Director, BotQ Home Needs Private Limited  | 08 16 2010 12:51:28 +0000
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Gen X is more calculating, sure - they learnt from their mistakes, are far more seasoned, not averse to risk taking (measure "calculated") & have taught the Gen Y to be what they are today!

Maturity in biz, decision making prowess & the gut to stand behind their decisions, are characteristic of a typical Gen X'er! 

Plus, any Gen X would firmly believe in the importance of a satisfied customer, more than just clocking sales, like is the motto of today! 

 
By Amit Abrol, Business Owner , Primexp  | 08 16 2010 11:13:23 +0000
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IN BUSINESS,IT  IS ACUMEN,EXPERIENCE,MATURITY,KNOWLEDGE,FORESIGHT, FLEXIBILITY,PERSEVERANCE ARE IMPORTANT TO SUCCEED.GEN X HAVE MORE THAN ALL THESE.
By s.baalu , Consultant, XYZ LTD  | 08 14 2010 13:35:42 +0000
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Thanks ,Veena for referral.At this age i would like to go with your argument.The natural law of averages remains constant.The earliest entrepreneurs also started with shoestring budget and succeeded.
By Mohammad Bakhsh, Project Leader/Managing Consultant, Freelancer  | 08 11 2010 03:03:18 +0000
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If you are talking about investment then obvious everybody go for Gen-X because it is more safer or even more profitable too than Gen- Y.

But if you are talking about supportive or work with whom then i will choose Gen- Y because fast innovative decision are demand for future growth. Safe but Rapid work lead to success...


By Vipin Bhasin, Private Equity/Hedge Fund/VC-Manager, Indian Investment Co.  | 08 10 2010 18:50:14 +0000
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I will definitely support Gen X entrepreneurs who are good decision makers in business.

Thanks for the referral Ms.Veena gupta.

 
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 08 10 2010 16:33:31 +0000
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I support this side becoz: Gen Y would be next Gen X..!

And investing any type; will prove beneficial no matter what age is the innovation comes from..!
By Satwinder Singh, Program Manager, Confidential  | 08 10 2010 11:24:31 +0000
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Gen Y have not experienced and success will based on their hard work and way of approach. But Gen X have a experience to find out and solve issues in initial stage. Hence I support GEN X
By UDAYA KUMAR, QUALITY AUDITOR, TEXLINE INDIA PRIVARE LIMITED, TIRUPUR  | 08 10 2010 08:28:22 +0000
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Yes the Gen X are the watchful lot and any investment will reap benifit since they observe for quite some time do the research and proceed forward hence will never fail on top of that they have deep pockets and wait for the opportune moment and start the business operations.

On the other hand the Gen Y though knowlegeable and want to do the business at any cost with not so deep pocket will have more chances to fall flat.

But as on today we want 1000 flower to blossom and 900 will die immature death but at least 100 will survive and thay will provide jobs and the Gen Y since falls in this class I want them to continue so that at least 100 survive.
By Rathin Deb, Freelance Retail Consultant  | 08 10 2010 07:33:48 +0000
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I am with Gen Y . Because these are very open about the uses of latest automization/ Information technology and more than traditional methodology. 

After globalization business opportunities are more thats why you can't stuck on past achivement.  they are very  open to adopt latest methodology to improve business & services. they always ready to get inputs from employees/ external parties.

  The biggest problem is that they always on the edge of credibility. so we have to give them time and confidence . young enterpreneurs are more professional and target oriented. they work hard and focussed and last and very improtant thingh they want to share   their profit-loss & experience .
By Rajeev Gupta, SBU/Profit Center Head, BSI Management sytem India Private Limited  | 08 30 2010 13:21:35 +0000
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Thanks for invite Veana,

Advantage Gen-Y: More risk taking ability, not bound by conventions or fixated notions, low arrogance factor and better enthusiasm etc....

Yet, Gen Y must respect real time experience that is so crucial for any growth.
By Ravindra Sharma, Managing Consultant, CHEF-India  | 08 16 2010 08:06:58 +0000
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Because we don't have the choice, I started to consider the gen Y part, while they are more multi-tasks, social web oriented and learnt to manage in collaborative fields. They like diversity, are able to do lots of things at the same time, and then more skilled to modern fight in high competition world and web driven information. For example, I wrote time ago, two referenced posts for the encountered behaviors (HR and talent management: http://evidencesx.wordpress.com/2009/05/03/hr-20-talents-manage-their-careers-alone-while-corps-are-blind) and other on necessary evolution for gen Y, in modern companies...see: http://evidencesx.wordpress.com/2008/10/13/darwin-20-necessary-evolution-in-companies

It's obviously a matter of opportunity and nature of business you target to do: they could be so fast, bright and innovation oriented, but sometimes they lack of experience and crossroads, that limit the risk of an entrepreneurial venture...

 

 
By Laurent Blondeau, Freelancer, Freelancer  | 08 11 2010 20:19:59 +0000
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Although the rational behind Gen X seems to be reasonable- it's so only superficially.

Almost all Gen Y(with an average 2yrs. work exp.) failures are 80% due to lack of sustainability, 20% for rashness due to lack of balanced guidance, lack of proper guidance is also the Achilles heel of most successful Gen Y entrepreneurs - I say so out of first hand experience at age 45. The best part is once a Gen Y always a Gen Y - irrespective of all factors. 
By MisterT , Marketing Manager  | 08 11 2010 19:21:20 +0000
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My vote is for Gen Y entrepreneurs, because new technologies, new area of entrepreneurship stems out  from these Gen Ys.  Gen Xs always try to enter the tested area of business since they are very calculated.  They rarely go beyond the traditional business arena.  I am not going by the success rate, but by the new areas of entrepreneurship. 


By Srinivas suravajhala, Asst. Manager.  | 08 11 2010 03:45:03 +0000
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