Tag Entrepreneurship

Posts: 2

Millennials can't catch a break

This is just nuts. Millennials just can't seem to catch a break. Now AI is coming for their jobs.

Research released by Gallup on Thursday indicates a collision between technology and “business as usual” is coming soon, and the fallout will be ugly, especially for Millennials. Automation and artificial intelligence (AI) are among the most disruptive forces descending upon the workplace, says the Gallup report, and 37% of Millennials “are at high risk of having their job replaced by automation, compared with 32% of those in the two older generations.”[via Forbes]

So how can they stay relevant? Look for new trends in hiring. The top one I can think of is Data Science.

If you’re considering a career move, get a beat on what jobs are trending up (software engineer) and which ones are on their way out (reporter). You can boost your skills through a boot camp or with a traditional degree, no matter what your industry is, but know that some companies may prefer a regular degree over a boot-camp certificate or DIY learning.

But those industries might be susceptible to offshoring.

Though the Bureau of Labor Statistics (BLS) says that programmer and coder jobs will decline 8% due to outsourcing to other countries from 2014 to 2024, there will still be plenty of work, and in many cases, it will be too unwieldily to move massive operations overseas.

So in other words, Millennials can't seem to catch a break. If I were part of that creative and awesome generation, I'd probably go the route of entrepreneurship.

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Got MBA? Buy ~~that~~ the Right Business!

Brian tweeted an interesting link the other day about a new trend that HBR picked up on. It was about newly minted MBA graduates buying existing businesses instead of going into right into the consulting world.

At the Harvard Business School, for example, the number of MBAs who decide to look for a business to acquire right after graduation has gone from less than a handful a decade ago to more than a dozen, and in an occasional year, twice that amount.

I'm surprised that this number isn't higher but it's probably because of the stress that these students experience in the search for that special business.

One of the most common concerns that we hear as we advise our students at HBS is that searching for a business to buy — a full-time endeavor — is too “risky.”

It appears that financial risk has less weight than the finding the right business to buy. This is interesting but makes complete sense to me.

If you want to be an entrepreneur and be successful, you need to either fill a need or solve a problem in an industry that you are passionate about.

This is why the search for that right business can take a long time and requires lots of reflection. Just because a business might be cheap to buy, it might not have long term potential. This is key. You want to find that business that has the potential to disrupt the status quo.

Now go forth and find it.

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Neural Market Trends is the online home of Thomas Ott.