Most profitable businesses today are owned and operated by young adults who have graduated from college and who have had the experience of watching their parents climb the corporate ladder to success. The young adults of this generation give business a new perspective by being more digitally connected and tech savvy than their elders. In most instances, profit is not the main goal but people and the planet.
Josh and Dan Steppling are examples of new generation business owners who are attracting the millennial population. They own two store locations at the same time that they are managing six more franchises. According to them, millennial business owners are different from their elders because of the collective sense of responsibility. Josh and Dan want to cultivate a culture of inclusion, social responsibility and accountability. Traditional management treated employees as replaceable pieces of a company. As business owners, Josh and Dan want employees to be happy and comfortable while they please customers with products and services that provide true value.
If employees are treated like family, Dan Steppling believes that a su ccessful working environment can be easily created. People take notice of a business that is willing to support local charities and causes. However, building a healthy and trustworthy brand is very important because millennial customers are more than willing to pay extra for products and services that are beneficial to the environment.
Building positive brand perception is difficult considering that millennials make up one-fourth of the United States’ population. Since the millennial population is the target audience, the product must appeal to this specific demographic. The key to success is to persuade these people during the digital shopping process to visit the physical store. It is also important to be aware of keywords like organic, farm-raised and antibiotic-free because consumers are more educated and health conscious.
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