Over the last few years, we’ve seen a significant transition in the global economy. For the first time ever, we have four generations collaborating in our workforce. We are watching technology, innovation and globalization transform the way business is conducted on a daily basis. Old business behaviors are transforming the way companies develop new products, services and marketplaces – also known as the “sharing economy”. Everyday we witness entrepreneurs emerging in greater numbers with a majority of them being young, savvy and technologically inclined, utilizing the internet and it’s advantages to their every whim.
As time presses on and the days pass, we’ll only continue to see this trend of entrepreneurship grow and blossom amongst the millennial generation. Unfortunately, the older generation (as most older generations do) often overstep this younger generation and stereotype them all as lazy or entitled, but reality is, they are neither. If you really talk with this group, sit down and listen to them, you’ll realize that this group of young professionals are working hard everyday trying to grow out of one of the worst recessions to date. With more debt and very little faith in Government and Corporate America than their parents, this young group of vibrant, innovative and energetic individuals are venturing off on their own and starting to grow small businesses, creating new opportunities outside the limitations of a traditional work environment.
This emerging class of young professionals and executive pioneers are creating new businesses and embarking on ventures unknown. Together, they collaborate with each other on projects and develop innovative ideas that drive them equally to success. This group of emerging collaborative entrepreneurs, or “col’labrenuers”, are growing a new economy that encompasses sharing technology and collaboration at its core. We are already seeing this occur through successful companies such as Uber, TaskRabbit or eBay. Entrepreneurs make this country great, and at the end of the day they are the true “local” job creators.
However, it’s not easy to start up all on your own, especially when there is not a lot of capital to support you on your new venture. That’s why we want to introduce our thoughts on what we see as the “collaborative economy”. Some have already coined it in terms of how company’s develop services, products and marketplaces, however, BigFish Consulting is introducing a new spin on it.
We see the future of the collaborative economy depending on two distinct groups of people, the Baby Boomers and the Millennials. Why you may ask? For simple reasons, Baby Boomers bring with them a breadth of experience, business knowledge and financial resources but lack the innovative and technology driven mindset the millennials have while the millennials bring a collaborative and out of the box way of doing things digitally. This young dynamic and extremely smart group is already bringing the skeletal structure of what the new economy is, now we need the older generation to come in and help move it forward with their experience and financial resources. These two groups already work together everyday and are just missing the mark on how to accurately communicate, collaborate and innovate with one another. Neither group is right nor better than the other. Finger pointing and name calling won’t help build the next economy. Issue recognition and understanding each others needs must happen, and the next steps will follow. BigFish Consulting is determined to help bring these two groups together to keep growing our new collaborative economy.