Black millennials are changing the face of digital and business ownership. Not all black millennials hold a terrible rep, nor leave a bad taste in many mouths. Sadly, they are blamed for being “Narcissistic, Unlucky and the Me Me Me” generation. The reality is the baby boomers, and generation X-er’s haven’t taken time to understand them.
This generation was born from 1980 to 2001. Black millennials are a mix of generation Y and Z. By definition, both are leading and changing the world by way of technology. Black millennials will take business ownership to new high-tech levels. We must be ready.
Let’s not undervalue this group. According to Neilsen, “Black Millennials are 11.5 million strong and leading a viral vanguard that is driving African-Americans’ innovative use of mobile technology and closing the digital divide.” Thanks to technology now 20 to 30-year-olds take on entrepreneurial roles. These babies are running companies and leaping into a self-made millionaire, and even billionaire status. Before this, the baby boomers set out to start businesses at 35 years old.
Technology and social media are their worlds and habitats. They comprise the vehicle that gets them quickly to millionaire status. We have no choice but to respect this. They understand it in such a way to generate new ideas and run businesses. Black millennials aren’t afraid to take their ideas and turn them into profits. This generation doesn’t fear becoming millionaires.
These generation Y-er’s and Z-er’s seem to understand the difference between entrepreneurship and business ownership. As entrepreneurs, they solve problems for many in their communities. And, being business owners, the two generations are learning how to leverage their brands and manage large budgets. What’s even more interesting is how they use technology and social media for profitable gains. Perhaps “Selfishness” or “Me Me Me” isn’t too bad, right? Self-made millionaires are quite frugal and selfish when it comes to money as well.
Black millennials continue to rise as techies. They’re smart enough to know this area holds the money. Recent reports show consumer’s spending over $1 trillion in technology. Black millennials are multiplying and creating pivotal changes in app development, consulting agencies, gaming, robotics; initiating black-owned versions of uber; coding, developing intelligence and analytical software; and creating sites for business to business connects similar to Match.com. Black millennials show themselves to be more than meets the eye. These are the tech minds to lead us into the future of substantial business ideas, and self-made millionaire status.