Upstarts: How GenY Entrepreneurs are Rocking the World of Business and 8 Ways You Can Profit from Their Success Review

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Upstarts: How GenY Entrepreneurs are Rocking the World of Business and 8 Ways You Can Profit from Their Success ReviewLiving and working in Silicon Valley: the land of VC 's and start-ups, I was intrigued to read this book. Fenn begins by describing GenY entrepreneurs as builders of "the new lemonade stand." How true that is about the GenY revolution and their impact and influence on modern business practices. With a population size of roughly 80 million, a predisposition to all things technology and little start-up capital required to produce results, it's fair to say we all need to pay attention to how they think and operate.

Fenn opens up the dialogue with how cultural norms within this group fuel their passion and direction such as brand, social justice, and the need to work on their terms - a philosophy born out of seeing their parents get wiped out from corporate downsizing. They see a servant-leader model focused on collaboration that strives to share the wealth with all. To that end they don't view weekends and long hours as work - but an extension of themselves and their passions - the very fuel that most entrepreneurs need to be successful.
In terms of modeling, Upstarts shows the basic formula for the Millennial world view. They grew up understanding team activities so they collaborate easily. College is the incubator where they meet like-minded spirits. Throw in a dose of mentoring and encouragement their creativity flows. Soon corporations (often in the form of strategic partnerships or community outreach) get involved and fund their innovations.
Leveraging technology is key as well. No surprise as Fenn points out; Millennial entrepreneurs are accustomed to an imperfect business launch via the web, coupled with social networking chatter and buzz. Soon a community platform is built that praises (and buys) the product or service idea. It doesn't take long for this simple business plan to leapfrog into game changers or new rules of engagement. This mentality allows the GenY entrepreneur to adapt quickly to changing customer needs, uncover underserved niches, and professionalize old-economy businesses.

Acting fast on trends or rapid re-design isn't the only key differentiators for GenY entrepreneurs. Fenn describes the role this group plays in corporations and what to do about managing this talent pool. Fenn outlines key strategies such as flexibility, continuous learning, frequent feedback, open spaces, and increasing the frequency of web-based tools to keep communication flowing and dynamic.

Fenn interviewed 150 young CEOs for the data behind the conceptual and practical guidance she offers in Upstarts. The result is a rich text that gives you background, real world examples, and playlists that condense the essential learning points into digestible information chunks. The book also contains an appendix full of stats from her survey and advice from experts which is very insightful in itself.
Upstarts: How GenY Entrepreneurs are Rocking the World of Business and 8 Ways You Can Profit from Their Success Overview

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