Millennial entrepreneurs are leaning heavily on mobile devices to keep their new businesses running, research shows.
A new study by cloud services and digital media provider j2 Global revealed that, thanks to smartphones, tablets and laptop computers, more than 30 percent of millennial business owners feel they get the most work done while commuting, while another 32 percent feel free to work during their downtime, like when watching TV or relaxing at home.
The research found that more than half of millennial entrepreneurs ultimately see themselves being able to work entirely from a tablet within the next year.
As part of their reliance on mobile devices, more and more millennial entrepreneurs are using apps to help run their business. Specifically, 36 percent of millennial business owners use more than five apps to support their operations.
Mike Pugh, vice president of marketing for j2 Global, said millennials have grown up immersed in technologies that let them connect and collaborate anywhere, on a host of devices they always have with them.
"So it makes perfect sense that they see their professional lives unfolding outside the confines of office or cubicle walls," Pugh said.
Based on the study's results, j2 Global offers millennial entrepreneurs several tips for building a successful business, including:
- Student loans: Young business owners shouldn't let student loans rain on their parade. The federal government's Student Startup Plan allows millennial entrepreneurs to defer their loans or lower their interest rates to help them jumpstart their business.
- No experience, no problem: Millennials can't let their lack of experience bring them down. The successes of Facebook's Mark Zuckerberg and Tumblr's David Karp show that experience is not always a key factor for success. Resources abound on the Web to help millennial business owners learn from others and become long-lasting entrepreneurs.
- Embrace technology: Millennials are learning that launching a business today takes far less cash than previous generations' required. Cloud-based tools let small business owners convey the image of a larger, professional enterprise for a fraction of the cost of a traditional business phone system. Tools like these help entrepreneurs preserve precious early capital as they get their new businesses going.
- Avoid all work and no fun: Being a small business owner requires hard work and dedication. While it's crucial to work hard, it's also important to have a balanced work-life style in order to effectively manage a staff and run a business.
The study was based on surveys of more than 2,500 small business professionals.
Originally published on BusinessNewsDaily.