Q&A, Donna Fenn, journalist and author of ‘Upstarts! How GenY Entrepreneurs Are Rocking the World of Business’ | JWT Intelligence
Other positive characteristics—it’s a very socially responsible generation. When I was doing research for my book, I asked everybody I interviewed, which was 150-160 entrepreneurs, “Would you describe your company as having a social mission?” And 70 percent said yeah. I thought that was amazing. Previous generations may have said, “I’m going to make my money, and then I’m going to give back. And I’ll do it through donations or maybe donating a percentage of sales to my favorite charity.” But this generation has a stated social mission at the outset: “We’re not going to wait until we make profits.”
There’s a company in my book called HAPPYBABY Foods, which makes frozen, organic baby meals. From the very inception of their company, they were committed to feeding a kid in Malawi for every package of baby food they sold here. And that was before they had a dime in profits. That’s very typical that there’s a commitment to having a larger purpose beyond commerce; there’s not this separation of profit and not-for-profit. You find a lot of hybrid companies in this generation.
Another positive characteristic is flexibility, because you don’t have this expectation that you’re going to get a job and stay in it for 20 years. You’re more flexible about moving around and juggling a lot of balls at one time and kind of cobbling things together, more than people of older generations who kind of would freak out if they lost their job.