Generation Gaps in Your Business

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 Recently, I had three different people come to see me about starting a new business (shocker, I know.)

1. The first one, an older gentleman, wanted to meet weekly, work on the business plan in person, and wanted to make very good money.
2. The next one, a woman that was my age, wanted to meet once or twice for some direction, worked on the business plan independently, and was primarily focused working from home so she could spend more time with her family.
3.  The last one, a young whippersnapper fresh out of college, simply wanted to email me, collaborated with friends online to create a strategy (he refused to use the words business plan), and wanted to make a difference in this world.

   All three would-be-entrepreneurs had the same goal, but went about it for different reasons and with different methods.

Let’s consider the different generations each of them represent.

Characteristics	Baby Boomer (born 1946-1964)	Gen X (born 1965-1980)	Millennials (born 1981-2000)
Structure	They like a lot of structure and specifics	May be more entrepreneurial and less interested in structure	They are participative
Meetings	Are more apt to appreciate meetings and like to communicate face-to-face	Want immediate communication and fewer meetings	Want to communicate through technology, i.e email and social media
Rewards	They want to know they are valued and needed	Freedom and time off may be their best reward	Their reward is meaningful work and whenever they choose it
Motivation	They are motivated by money and titles and less interested in feedback	Want to do things their way and may not be worried about the rules	They are motivated by working with sharp and creative people
Work/Home Balance	Tend to be more focused on work, than family	Want a more balanced work and family life	Want a more balanced work and family life

There are exceptions to every rule of course, however, these characteristics tend to hold true in most situations. 

So take these characteristics into consideration when you are:

• Training and rewarding employees
• Negotiating with vendors
• Communicating with customers

To work well with others, we need to understand generational differences and learn how to use them effectively in dealing with each person.