As a Gen Z undergrad, I’ve noticed an intriguing trend among my peers: a preference for starting businesses over continuing formal education. For instance, look at this article by Forbes about How Future Entrepreneurs Can Create Companies Without A Degree.

Phrases like “Why study when I can start my own business?” are becoming common, suggesting that entrepreneurship is perceived as an easy path to success. But is this shift a genuine change in mindset, or just a fleeting “teenage” rebellion?

While scrolling through social media, dodging memes and cat videos, I stumbled upon a Business Insider article discussing why Gen Z is veering away from traditional career paths.

It makes a note that many Gen Zers view entrepreneurship as a quick route to wealth, avoiding the conventional corporate climb. It sounds enticing, but is it really that simple?

Understanding Gen Z

Gen Z is often characterised as tech-savvy, creative, and adept problem-solvers, having grown up in an era where smartphones and the internet are readily accessible (refer to Vertex Ventures Southeast Asia & India (VVSEAI)’s Gen-Z Perspectives Report for more insights).

Also Read: A paradigm shift on the Z axis: How Gen Z is shaping the new work culture

However, there’s also a perception that they are prone to seeking quick fixes and focused on short sprint motions over the long run.

The reality check

Is entrepreneurship that easy? During my internship at VVSEAI, I realised that entrepreneurship is far from being easy. I initially thought success was about having a cool idea and securing funding. However, insights that our portfolio company founders like Joseph Phua, Guan Dian, Achita Jacob, and Roshni Mahtani revealed during the interviews showed me that it takes guts, grit, and a lot of hard work to turn an idea into a successful business.

Dreaming big and chasing those dreams is essential, but it’s crucial to acknowledge the challenges involved in starting and growing a business. It requires relentless effort, resilience, and often a willingness to face failure head-on.

Is this a lasting mindset shift or just a trend?

If starting or running a business is not easy, then are Gen Zers more likely to succeed as entrepreneurs? To find the answer, I interviewed Glenn Cheow, a Gen Z entrepreneur from Singapore and the founder of GIFEducation. His edutech startup, a proud venture of Huawei and the ASEAN Foundation, strives to provide accessible and free basic educational resources to the ASEAN Region through AI Mentorship in their native language.

Thoughts on entrepreneurship as a Gen Z trend

Cheow believes that Gen Z is quick to learn and adapt to new trends, thanks to our tech-savvy upbringing. He says, “Gen Z learns trends quicker, follows trends, creates their own trends quicker.” While he acknowledges that entrepreneurship seems like the latest hype, he stresses that real success requires long-term tenacity and grit. “It’s not a race; it’s a marathon,” he adds.

Also Read: Experience over expense: How Gen Z and Millennials are redefining travel

Cheow views the trend of Gen Zers jumping into entrepreneurship as a double-edged sword. On one hand, it allows us to gain firsthand experience in the business world and understand what it means to be our own boss. On the other hand, it can be risky if undertaken without a clear direction or understanding of the challenges involved.

“I birthed the idea of GIFEducation, but it takes a dedicated team to execute a seamless learning experience. Motivational Speaker Jim Rohn once said “You are the average of five people” and I believes that having a team that is all focused on the same goal of creating a more seamless and accessible education experience is paramount,” said Cheow.

My own perspective

While the stereotypes surrounding Gen Z hold some truth, as a Gen Zer myself, I don’t think they capture the full picture. Gen Z is a diverse generation driven by a wide array of talents and aspirations.

Many Gen Z entrepreneurs like Cheow are challenging these perceptions, demonstrating remarkable business acumen and determination. They’re not just chasing the next big thing; they’re building startups and pursuing ventures that align with their passions and visions for the future. With an innate grasp of digital trends and consumer behaviour, Gen Z entrepreneurs have the potential to make a significant impact in the business world, driving innovation and shaping the economy.

So, is Gen Z’s entrepreneurial spirit just a phase, or are we witnessing the birth of something significant? The truth is, that is a trend that serves as an alternative to traditional paths and it may seem like escaping from it, but with the right mindset and perseverance, it can lead to substantial achievements. It’s not about following trends; it’s about making meaningful moves like embracing entrepreneurship.

Gen Z has grown up in an era of unprecedented access to information and opportunities, which has fostered a confident and daring approach to pursuing our goals. Thanks to the groundwork laid by previous generations, we have the privilege and tools to explore new ventures and embrace entrepreneurship.

Personally, I find inspiration in the stories of resilience and determination from fellow Gen Z entrepreneurs like Cheow. I am reminded that entrepreneurship is not a pursuit for the faint-hearted. During my internship with VVSEAI, the journeys of their portfolio companies reminded me that success isn’t about luck or timing but about perseverance and a willingness to learn from failures. So, if you’re considering entrepreneurship, know that with hard work and a clear vision, anything is possible.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join our e27 Telegram group, FB community, or like the e27 Facebook page.

Image credit: Canva Pro

The post Gen Z generational shift: Embracing entrepreneurship or escaping traditional paths? appeared first on e27.