Defined as anyone born from 1980-2000, the millennial generation is the largest in US history, and the bulk of us are entering our prime working and purchasing years. But while the older folks in this generation (ie: anyone born in the ’80s) still carry some resemblance of previous generations, the youngest of this group vastly differ in their life goals and purchase behaviors. Goldman Sachs recently completed a large scale survey to pinpoint the differences of this group, focusing on what they want and don’t want, as well as when they expect to hit major life milestones like marriage, buying a home, and having kids. There’s a lot of information in there, but it’s all a very good read! So if you’re marketing to this generation, or even if you’re part of this generation and just want to see if you identify with the rest of us – check out the entire set of results.
Lately I’ve been reading “Good to Great” by Jim Collins, and I want to highlight an exerpt that talks about the struggle most successful start-ups go through:
“Few successful start-ups become great companies, in large part because they respond to growth and success in the wrong way. Entrepreneurial success is fueled by creativity, imagination, bold moves into uncharted waters, and visionary zeal. As a company grows and becomes more complex, it begins to trip over its own success – too many new people, too many new customers, too many new orders, too many new products. What was once great fun becomes an unwieldy ball of disorganized stuff. Lack of planning, lack of accounting, lack of systems, and lack of hiring constraints create friction. Problems surface – with customers, with cash flow, with schedules.