19/10/2015 3:38 PM AEDT | Updated 15/07/2016 12:50 PM AEST

I Put An X Next To Gen Y Stereotypes

Gen Y is breathing new life into entrepreneurialism in Australia. This generation is the most educated and well-travelled in our history, and has grown up with the latest technologies at their fingertips.

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image of a pensive businessman in a cafe

In recent years Generation Ys have felt a significant amount of flak for their seemingly 'lazy' approach to life. Often branded as 'entitled' and commonly known to display a pathetic work ethic involving limited input yet expecting big rewards, Gen Ys generally have a pretty bad reputation when it comes to work.

I couldn't disagree with this belief more.

On the contrary, Gen Ys are breathing new life into entrepreneurialism in Australia. This generation is the most educated and well-travelled in our history, and has grown up with the latest technologies at their fingertips. Gen Ys do commonly display an intense amount of confidence. However, as an entrepreneur, this has proven to be a valuable trait to embrace.

With the help of the internet and social media, this is possibly the best and easiest period in history to become an entrepreneur. With this comes more opportunity and endless possibilities.

Here are my top five reasons why Gen Ys make for ruthless entrepreneurs:

1) They have limitless opportunities

Most Gen Ys could manoeuvre their way around the keyboard before they had even started school, and it is their intuitive tech knowledge which has opened up their business opportunities. This generation now has effortless access to high-up contacts in their field through apps like LinkedIn, and they have the confidence to go out on a whim to make these connections. Gen Ys have the world at their entrepreneurial fingertips; the World Wide Web is their key to access global networking potential.

2) Taking risks comes naturally

Gen Ys know how to push the boundaries and they aren't afraid of the consequences when it comes to taking a risk. This is something Baby Boomers were raised not to do by their parents, who just touched the edge of the Great Depression. The Baby Boomers were taught that it was better to live a secure life, rather than Gen Ys who live a passionate risk-driven one. With taking risks comes great responsibility and this generation is welcoming this with open arms. What some might consider an insurmountable task, Gen Ys have the guts to charge ahead without fear of failure.

3) Own a 'no time to waste' mentality

Being a generation filled with impatient ambition seekers, Gen Ys have no time to be anything but ruthless. They will not wait for opportunities like their parents did. Instead, they seek out and secure prospects, and if there aren't any available, they will make opportunities for themselves. Gen Ys aren't interested in what they can do tomorrow, they are interested in what they can do today. With this mentality comes the notion that things can change in the blink of an eye, which is another reason why it's important that this generation embraces change rapidly and enjoys doing this differently.

4) Aren't afraid to ask questions (and lots of them)

A questioner himself, Albert Einstein once said: "The important thing is not to stop questioning. Curiosity has its own reason for existing." What's more, the old saying 'curiosity killed the cat' couldn't be further from the truth. On the contrary, questioning is the key to why Gen Ys thrive as entrepreneurs. Being open to asking and answering questions leads people down the positive path of finding solutions rather than only seeing problems, and enables them to ask why something can't be done better or why hasn't it been done at all?

5) Strive for impact and purpose

Gen Ys feel strongly about why they do things and strive to have a strong purpose in their lives. Mostly Gen Ys are motivated by the potential to have a significant and positive impact, ideally leading to great change.


Zaki Ameer is a self-made millionaire and founder of Dream Design Property.