If you had the opportunity to join us on the Leads Club Cruise to Mexico this past February, you will remember how much fun we had with “The Test”. If you missed the cruise (OMG it was such a blast, Alaska is next May 2010!) or haven’t had a chance to take “The Test” go ahead now and give it a shot. It only takes a couple of minutes (promise, lol). You will probably impress yourself with the results; in fact, you may feel years or even decades younger afterwards! (Now what wrinkle cream can really make that claim?) I will give you another week try it and then I want you to email your results to traci@traciwithatoolbelt.com.

In one of my future blogs, I will let you know how we did as a group, how technologically advanced we really are, and how this new found confidence will increase your business and strengthen your relationships, especially with your favorite Gen Y’s.

In the mean time, I would like to give you some more insights about this up and coming generation of small business owners. Generally speaking, those born during the Gen Y years (1980-2000) are quite different from their predecessors, including me, born a Gen X-er, (no slacker jokes please, lol). We can almost divide the Gen Y population into two segments:

The first segment, we will refer to as the “Millennial’s”, or the Gen Y kids that are products of broken homes. Divorce rates soared during their youth and the dual income family became more of the norm rather than the exception. Have you ever heard of the term Latch Key Kid? What about the notion of computers being used as cost effective babysitters? These kids were left home to fend for themselves and developed a strong bond with technology such as computers and video games.

We will call the second segment “Trophy Kids”, these Gen Y children were raised in very busy families as well. Instead of being left home, they were the first generation that were enrolled in multiple activities such as before and after school programs, which again decreased time at home with family. They were far more pampered and natured then proceeding generations as well. (When I was growing up, I don’t recall every kid that participated in an event received an award like a trophy or a metal unless they won!)

An observation can be made that whether it is the Millennial that was left home with almost no supervision and sometimes forgotten or the Trophy Kid that was over supervised even micromanaged by coaches, teachers and parents, the same result occurred. Gen Y became a group of young adults that are technologically advanced, high performance, but yet quite high maintenance. (…and sometimes a little whiny, j/k…) Many do have the strong “I can do it” attitude, but experience problems in actually being able to accomplish goals due to a lack of proper skills, which can be attributed to this phenomenon of “too little direction” or “too much control”.

The Gen Y entrepreneur needs a leader or a mentor. These kids may be confident and determined, but they also want someone to listen to their ideas and have a desperate need for approval and praise. They have also shown the need to be a part of something bigger and worthwhile in their community, but don’t necessary know how to go about doing it. This is where you come in…

By enrolling a young Gen Y business owner in Leads Club, you are assisting them with their entrepreneurial goals and helping them develop skills they will use throughout their business career. Leads Club chapters provide exposure to all different types of businesses and the weekly meetings provide consistency and demand reliability to prove one’s dedication to growing their business and being accountable. Being a part of this organization, the Gen Y entrepreneur will gain valuable knowledge about how small companies operate; have the opportunity to learn how to network for business referrals from seasoned professionals; be a part of a group that is supportive of their business which will help meet their need for being part of a bigger organization. These skills will certainly help a Gen Y or any age business owner achieve their goals!

A good way to start introducing you younger generation counterpart to business networking is to recommend Lisa Bentson’s book, “Focused Networking”, which is currently in its second printing! (Congrats Lisa!!!). The book (available on this site) teaches the Eight Principles of 21st Century Marketing. It’s an easy, fun read for your Gen Y’ers that lose interest easily or think reading is constantly checking their blackberry to see their bff’s Facebook wall posts, lol! I highly recommend this book for anyone in business today, cause times they are a changin’, and you need to be ready!

In my next blog, I will help to prepare you even more with a list of “Things You Need To Know” about your Generation Y prospects and talk about your role in bridging the Generation Gap!