Accounting software provider Sage has released a report stating that Millennials who consider themselves to be entrepreneurs can be sorted into five different personality groups, each with different motivators and strengths.
As such, it is recommended that you understand the type of personality that fits best within your workplace, and tailor your search accordingly.
The five groups Sage identified are the ‘principled planners’, the ‘driven techies’, the ‘instinctive explorers’, the ‘real worlders’ and the ‘thrill-seekers’.
In Australia, the largest classification was found to be the instinctive explorers, who are “cavalier, … love the unknown, … trust their gut instincts and stick to their guns”.
“Australia has always been a test bed for new innovation and business ventures, so it is natural that the instinctive explorer is the most commonly found personality trait for Australians,” Lukas Taylor, general manager at Sage’s cloud division Sage One, told My Business.
“One strength of the instinctive explorers is the love of the unknown, and therefore they are more likely to take risks to follow their passions and start their own venture[s].”
He added: “Fearless when it comes to exploring uncharted territory, the instinctive explorer is a serial entrepreneur and is most likely to start more than one business”.
Mr Taylor said that another strength of instinctive explorers is their resourcefulness.
“This innate ability to successfully adopt and utilise whatever tools are available to them, including technology, fuels their drive for success.”
While instinctive explorers are quite driven, Mr Taylor says that it’s important they don’t lose sight of maintaining a work-life balance.
“Keeping their eye on the main prize is about achieving early retirement and enjoying life, and in order to do so, it means they need to keep a check on sustaining the personal aspect of their lives as much as their business success,” he said.
Having an instinctive explorer working in an SME can mean great things, according to Mr Taylor.
“Drive, ambition and the pursuit of fame and fortune make the instinctive explorer the ideal business partner,” he said.
“Going into business with these entrepreneurs guarantees a shared commitment to success.
“This infectious passion and drive can be inspiring and attractive to potential business partners.”
He added: “The instinctive explorer, being less risk-averse, is more open to trying new things, such as new technology, which makes them the ideal early adopters and influencers”.
As well as attracting Millennials to your workforce, My Business has plenty of tips on how to change your marketing to appeal to Millennial consumers.