StartupTalky

Tag: millenials

  • Shark Tank India’s Impact on Entrepreneurial Mindsets: Inspiring the Next Generation

    India is a country with a bit different thinking than what people believe and opt for in other parts of the world. The south Asiatic region has cultural differences that affect the youth and families, who try to ignore the risks, critical thinking, and odd decisions. 

    A simple question of career choice would define the perspective of the Indian parents, who strictly oppose any of such decisions. But thanks to Shark Tank India, which showed the youths of the country by the Arabian Sea, a path to discuss their pitches with their parents even before they do it with the actual investors.     

    The reality show has fostered startups in India and has even brought significant changes for budding entrepreneurs. The youth from middle-class families who were afraid to discuss their projects and business plans in front of their parents and family gatherings, now had an open sky to spread their wings of ideas. 

    Filled with eagerness, several about to be 9 to 5 employees have now dared to step into the world of business. In addition, Shark Tank has given them confidence and proof that they too can have a successful future.  

    The Indian business market has never seen such a drastic shift, as it is witnessing today. Let’s take a look at how Shark Tank India has had an impact on the entrepreneurial mindsets in the country. 

    Teaching Business Terms
    Example for Future Contestants
    Changing the Age-Old Idea and Promoting Mass Entrepreneurship
    Inspiration
    Boost to Products by Entrepreneurs
    Facts About Shark Tank India

    Teaching Business Terms

    Before Shark Tank was aired in 2021 on Sony TV, only a few knew business terms such as pitching, raising external investments for startups, and more. But having Shark Tank being televised on their idiot boxes, the audiences have been influenced and are now exposed to new terms. 

    These terms and topics included valuation, investment, gross margin, D2C, pitching, and more. Today not only those who have studied entrepreneurial works know about the meaning behind these terms but from a kid to an 80-year-old has become familiar with such terms, filling in the age gap. 

    Startup culture is now an attraction and has even changed the way people perceive this bravery by youths. 

    Number of Government Recognized Startups From 2016 to 2024
    Number of Government Recognized Startups From 2016 to 2024

    Example for Future Contestants

    The investors on the reality show Shark Tank, who are also regarded as the Sharks have stated that the first season was just a warm-up season as the entrepreneurs didn’t have a perfect pitch or presentation ready. 

    But with the end of the initial season, the future contestants will have a better picture in mind of how to please the Sharks on the show. They will have knowledge and understanding of how pitches work. The future Shark Tank entrepreneurs will even feel confident to go on national television while discussing their innovative ideas. 

    Changing the Age-Old Idea and Promoting Mass Entrepreneurship

    The Indian culture raises kids within a conservative environment. This atmosphere usually suggests they choose a secure career instead of pursuing entrepreneurship. Thanks to Shark Tank, for changing this age-old mindset. 

    Shark Tank India can promote mass entrepreneurship and boost the startup ecosystem in the country. India roughly has a population of 500 million between the ages of 15 and 44, the generation is capable of taking a risk and starting their own business. 

    As Shark Tank has reached the Indian middle-class families, there is a chance that the country could see a shift in its mentality towards startups in the coming years as well.

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    Inspiration

    Examples work a lot in India. Parents calling their son the next Sachin Tendulkar and daughters Kalpana Chawla have lasted through generations. 

    With Shark Tank India, now is the time to call the young ones to be the next Peyush Bansal and Vineeta Singh. This is already happening in India which means the country has seen a huge cultural shift. 

    Shark Tank introduced a panel of investors, Sharks who have experienced struggle and are now in a position to negotiate investment on the reality show. The sharks are people who have filled in a gap with their unique ideas. 

    These Sharks are the ones who came up with solutions for issues that the people around them weren’t even aware of. Moreover, the Sharks are admired by the people in India and hence are a great example for the future generation. 

    Boost to Products by Entrepreneurs

    Best of all! Shark Tank gave entrepreneurs in India a great platform to showcase their innovative ideas and portray them in front of the whole nation. But the opportunity just didn’t stop here, the products showcased on Shark Tank India have been in high demand since they aired. 

    Revenue for these businesses has increased exceptionally. The show has worked as a golden opportunity for entrepreneurs and startups, through Shark Tank’s medium they have increased their brand value and established a well-built position in the market. 

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    StartupTalkyRia Sahni

    Facts About Shark Tank India

    • Shark Tank India in its first season received 62000+ applications out of which only 198 startups were shortlisted.
    • Out of the 198 startups that had pitched in front of Sharks, a mere 67 were able to raise capital through the show.   
    • When talking about the entrepreneurs, 87% were the founders who had no IIT/ IIM degrees. Besides this, 67% of the startups had a co-founder who was below the age of 25 years. 
    • Amongst the 198 startups, 60% were never funded before, while 30% of the startups belonged to Tier 2/3  cities or were from rural parts of the country. 
    • Similarly, the first season of Shark Tank had 27% of startups that had couples or families as co-founders, while 43% of the businesses showcased, had at least one woman co-founder. 

    Conclusion

    Shark Tank has inspired the people of India by introducing them to business terms. Now even a layman speaks the language of an entrepreneur. With that, Shark Tank also explained the benefits of investing in a business. 

    Even if not through a reality show, entrepreneurs today have found the courage to approach pretty successful investors and have their money-making cycle roll. 

    Shark Tank has altered the psychology of Indian society, bringing a positive change in the entrepreneurial landscape. 

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    FAQs

    What is the impact of Shark Tank India on teens/young generation?

    Shark Tank India inspires teens and young people to think creatively, start businesses, and learn about entrepreneurship, pitching, and investments.

    Does Shark Tank encourage entrepreneurship?

    Yes, Shark Tank encourages entrepreneurship by showcasing startup ideas, teaching business strategies, and motivating people to turn their ideas into businesses.

    What is the role of Shark Tank in promoting startups?

    Shark Tank India promotes startups by providing a platform for entrepreneurs to pitch ideas, secure funding, gain mentorship, and receive exposure, helping them grow their businesses.

  • What Millennials and Gen Z Look For in a Job for Success

    It comes as no surprise that for decades most of us have always striven for success. But gone are those days when people didn’t see success as the ultimate goal of their lives. Having a high-paid job isn’t the definition of success anymore. Rather, valuing the work-life balance and being as flexible as possible are the new norms of success and thriving.

    Today, most millennials are either employed or seeking better job opportunities. Most young professionals do a lot of research to understand certain factors about the company before they decide to join it. These factors usually include the work culture, company values, and other perks and benefits.

    In this article, we have listed the key features and priorities young professionals often seek when they are hunting for jobs.

    Job Search Priorities for Millennials and Gen Z

    10 Career Tips for Young Professionals

    Job Search Priorities for Millennials and Gen Z

    In today’s competitive job market, job seeking has evolved beyond simply applying for a job, undergoing assessments, and being done with it. Young professionals are now placing greater emphasis on various factors that play a crucial role in their career success. Below are the key priorities and features that Millennials and Gen Z look for when searching for a job:

    Work-Life Harmony

    Many jobs today are demanding and require commitment. In this quest, young professionals have the urge to prove to their supervisors their hard work and sincerity, but at the same time, they expect them to understand their integrity. While it can be essential to stay true to your duties, young professionals seek a role that allows them to take care of themselves and have quality time with their family and friends. It is not just about their career but it is their life, thus, they want seamless positions that can give them peace of mind by having a good work-life balance.

    Company Values

    Another feature that most young job seekers look for in a job is company values. The foremost step before working with any organization is to know what kind of organization they are. For young professionals, when their professional goals match those of the desired company, employment no longer seems like a job for them. They research thoroughly to compare their values to the company’s mission statement, fundamental principles, and business model.

    Remote or Flexible Work Options

    A FlexJobs poll of more than 4000 respondents found that 24% of workers would accept a pay cut of 10% to 20% in exchange for the freedom to work remotely whenever they choose. This comes after the pandemic, where many people have become accustomed to working from home or remotely. As a result, the concept of a hybrid work culture seems to have taken a top spot as the most preferred work culture among today’s youth.

    In the case of a hybrid work arrangement, where young professionals got to spend a part of the week in the office and the rest of the week at home, it made them more productive than ever before.

    Growth Opportunities

    Millennials are considered to be very growth-oriented in whatever role they pursue in their lives. They want to join those companies that provide them with the chance to grow, especially if they are in the initial days of their career. Companies that make their employees feel trapped can never have a skilled employee because that will not give them the liberty to change or develop new skills throughout their lives. Therefore, this generation is motivated by a career that lets them nurture and improve their skill set.

    Biggest Challenges Faced by Job Seekers
    Biggest Challenges Faced by Job Seekers

    Happening Work Culture

    Some studies have shown that young professionals prefer working in an environment that is more enjoyable and happening. As working people, they spend most of their time at work, so this is one of the reasons millennials want to have fun while they are at work. They opt for a workspace that excites them and increases their job satisfaction. They want to enjoy the work they do, which further increases their overall happiness.

    Healthy Relationships in the Workspace

    The majority of young professionals want to develop a better relationship with their supervisors and team in general. Millennials and Gen Z like their employers to be helpful and developing rather than taskmasters. Companies have to be mindful when dealing with their young employees. The managers of the company have to behave like mentors, as young professionals look to them for inspiration. Supervisors and even teammates need to be aware of how they allocate duties and provide feedback. They need to keep in mind that their millennial employees are an ever-changing asset to the company.

    Health Benefits and Mental Health Support

    These days, healthcare is an enormous expenditure. But if a company offers excellent health insurance, then young professionals are most likely to work in that company. Besides, physical health, mental health too has become an important matter. Taking care of your mental health has become equally essential as taking care of your body. Companies that offer mental health leave to their employees seem to have attracted a majority of young workers.

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    Recognition and Appreciation

    The present generation is very precise about recognition and being rewarded. Since these millennials are regarded as hard workers, they expect their company to appreciate their efforts. It is not only about young professionals, in fact, everyone values compliments and acknowledgment for a job well done. Millennials, or Gen Z, in particular, prefer companies that support their growth and reward their hard work. They tend to look for jobs that provide bonuses, yearly vacations, and prizes as common performance rewards. In the end, young employees will join a company where they feel valued and respected.

    Conclusion

    There can be many features a young professional will scrutinize before joining a company. However, one of the top priority features for young employees these days is having better learning opportunities, where they have the scope to develop and fundamentally grow to become the best version of themselves.

    FAQs

    What do millennials and Gen Z look for in a job?

    Millennials and Gen Z look for the following while job searching:

    • Work-Life Harmony
    • Company Values
    • Remote or Flexible Work Options
    • Growth Opportunities
    • Positive Work Culture
    • Healthy Relationships in the Workspace
    • Health Benefits and Mental Health Support
    • Recognition and Appreciation

    How can managers create healthy relationships in the workplace?

    The managers can create healthy relationships in the workplace by behaving like mentors, as young professionals look to them for inspiration. Supervisors and teammates should also be aware of how they allocate duties and provide feedback.