Tip of the Day: Change with the Times

If you come from a small business lineage, you likely recall parents and grandparents sealing deals with handshakes. And while tradition is wonderful, it’s not always the best path for sustaining or growing a business. If you’re looking to stay competitive (and we know you are), it might be time to take some cues from the fastest growing group in the workforce who are quickly becoming known as the entrepreneurial generation. Yes, we’re talking about millennials.

Here’s where to start:

Numbers talk. Expansion is great, but don’t leap into something or continue doing things the way they’ve always been done without research, testing and backing up your plans with good, solid data. (Data makes millennials swoon.)

Collaborate. Open doors and open minds create a collaborative culture. Think of how many good ideas have slipped into oblivion because of the old-school ‘yes, sir,’ ‘yes, ma’am’ mentality when employees were intimidated to share ideas. Brainstorming and innovation are the name of the game.

Ask. Don’t be a lone wolf afraid to ask for help. Use your network or an online community, and join forces with competitors. Utilize each groups’ strengths for greater gain.

With just a few adjustments, you can incorporate a millennial mindset and keep pace with the next generation of business leaders.