According to a study by Rutgers University, as of May 2012 only about 50% of all college graduates who graduated between 2006 and 2011 have a full-time job. As the cost of colleges soars, inflation is ripping the seams of American wallets.
Yet young entrepreneurs are redefining young America’s job market. Instead of applying to jobs, attending job fairs, sweating through interviews and phone screens, young entrepreneurs think how they can develop something completely new instead of settling to become a piece in an already existing, rickety machine of corporate America.
Some of the biggest household names were developed by young entrepreneurs under the age of 30. Ever heard of Pintrest? A website with over 20 million visitors a month, worth over $1.5 billion, Pintrest is led by two 29 year olds, Ben Silbermann and Evan Sharp. Pintrest is a website that allows users to use pins to share websites by posting photos.
Ever heard of Spotify? Spotify is an Internet music service that allows you to listen and share music with various users, while connecting you to other music based on your tastes. And that’s right, Spotify was developed by someone under the age of 30. Daniel Ek, Spotify’s founder, is only 29.
More famous Young Entrepreneurs include: Mark Zuckerberg, 28, Founder of Facebook, Larry Page and Sergey Brin, both 25 in 1998 when they founded Google, Mike Krieger, 26, and Kevin Systrom, 28, Founders of Instagram, and Hayley Barna, 28, and Katia Beauchamp, 29, Founders of Birchbox.
Young entrepreneurs find a demand for a product, and fill it. But many entrepreneurs say there is more to creating a business than simply creating an idea. The trick is to throw your passion into creating a product that your customers will keep coming back for. And according to Jessica Stillman of Inc.com, age is not a hindrance. Many young people fear they “look too young” or “have a baby face,” and no one will take them seriously. This is not always the case. On the contrary, when people, “are given a choice between proven ability and apparent potential, they often opt for the excitement of the untested but promising candidate.” A youthful face with a punch of enthusiasm will almost always win over the more mature face with a complacent attitude.
Despite the recession, young entrepreneurs are paving the way for more jobs and more reforms. The jobless rate among young people today is 23% as a whole, over 50% for recent college graduates. Yet entrepreneurs are creating more jobs at a faster rate than old-established corporations. According to Inc.com, in 2012, “the Inc. 30 Under 30 employs more than 1,800 people, up 73% since last year. The median number of employees at companies on the list is 25, up 92% from last year.” New, fresh, young companies are hiring more people than ever before.
Young entrepreneurs are working to develop industries in need of reform, such as healthcare and education. They are reawakening American manufacturing, bringing factories back from countries such as Sri Lanka, to American cities such as Durham, North Carolina. Young entrepreneurs are redefining the American dream – redefining consumer needs, creating jobs, and stimulating the economy for a bigger, better future.
This guest post was written by freeresumebuilder.org