RSS Feed
Top of Mind: May 22, 2014
May 22nd, 2014
by Bill Boyajian

Millennials: Misunderstood or Just Different?

I’m a classic baby-boomer.  So are you if you were born between 1946 and 1964.  Our parents were Depression children and we picked up many traits from them, like hard work, dedication, long hours, and loyalty to one company.  Sound familiar?

But like most baby-boomers, I have children that are Millennials, and I have learned, from both my reading and my personal experience, that they think differently than I do.  Some would say that Millennials have a sense of entitlement, and maybe some do.  But I think it is much more complex than that.

17797340_s

Every generation is somewhat different than the previous one.  We are all products of the environment and the times we live in, and the lens we see life through.  Millennials have watched their parents work hard and exhibit loyalty to their jobs where it wasn’t necessarily returned.  They have grown up with cell phones and the internet, and they’ve now had the opportunity to live through the “Great Recession” (and its aftermath) just several years ago.

Armed with their smart phones and tablets, Millennials reached their most spirited age with exponentially more information about more things than any generation in history.  And that makes them fearless when it comes accessing products and services through strictly unconventional means.  No wonder things are changing.  Young people are helping to drive that change.

Make no mistake, Millennials are idealistically ambitious, but believe in working reasonable hours while maintaining a life of their own, on their own.  Work is important, but it isn’t the most important thing to them.  It should be fulfilling, but there are many other things in life that can bring them similar fulfillment.  I wonder how many of us baby-boomers figured this out before turning 50!

So before we start judging Millennials, we should be learning about them.  They are our new employees, our present customers, and our innovators of the future.  Embrace them.  It’s good for business.  And learn from them.  After all, they are next in line to take over.

Speaking of Millennial’s, here’s something to think about……

“Hey Dad,

I got your last email….

I know you recommended a jeweler for me to buy my finance’s engagement ring, but I’m beginning to wonder why I need to go to a jeweler in the first place; I’m thinking they will charge me a lot more money for the same ring. 

The thing is, I bought my iphone online, I find my restaurants online, I buy my airline tickets online, I book hotels online, and I bought my car online.  I even found my fiancé online!  So why shouldn’t I just buy the engagement ring online?

– Your Son”

Do you have a good answer for this young man?

 

Here are a few Business & Life Tips to think about…..

Business Tips:

  • If you’re in business, you need to touch your customers as often as you can with solid information that will benefit them.
  • Even experienced leaders need a tune-up now and then. To lead well, you must focus on your priorities, and work through your people.
  • If you take two similar people and give them exactly the same opportunity, one will succeed, and the other will fail. Which are you?

Life Tips:

  • Be true to your words in your actions. Respect others and win respect back. And fight for those who can’t fight for themselves.
  • Think about the turning points in your life that activated a positive change. Try to recreate that same sense of accomplishment.
  • Want to know your priorities? Well, what do you think about the most? Where does your money go? And your time?


Tags: , , , , , , , , , , , , , , , , ,

“I needed help orchestrating a succession plan for our business. I had heard that Bill Boyajian specialized in assisting owners to transition their business to the next generation. He knows how to bridge the generation gap and deliver what each needs to hear. I would recommend Bill to any business owner who needs advice on succession planning from a trusted outside professional.”

–Charles Denaburg,
Managing Partner,
Levy’s Fine Jewelry
Birmingham, AL

"Our family needed some guidance on business transition and succession planning. We asked Bill Boyajian to help us because we knew we could trust him to tell us what we needed to hear. Bill became a valuable resource for our company and our entire family. He has the ability to meet each of us where we’re at and it has served us very well."

–Ceylon Leitzel
Leitzel Fine Jewelry
Hershey & Myerstown, PA

“We needed a plan to transition our business to a non-family member and we asked Bill Boyajian to help us. His experience in the area has really paid off, but we didn’t expect the added value of putting us together with a financial planner who helped organize our retirement needs. We now have the fundamentals to transition our business successfully, and we have Bill to thank for it.”

–Ernie & Debbie Cummings
Kizer-Cummings Jewelers
Lawrence, KS