Gen Y Entrepreneurs

Chris Saad, of Data Portability fame, posted this video on his blog.  It clearly demonstrates what Gen Y’ers think about when they build a company.  I also think that many other Gen Y’ers look for environment like the ones described when they are looking for employment.  And if credit unions can’t attract Gen Y employees, they are probably going to have a very difficult time attracting Gen Y members.

Do strippers strip at home?

I’ve always wondered that.  If I married a stripper, do I get free lap dances at home for the rest of my life or is it the trusty standby, "I’m too tired."?  You’ve all heard the old adage that mechanics have cars that never work quite right and plumbers always have leaky pipes and faucets that drip.  Most people who do something every day don’t always enjoy doing it when the get home. 

What about us in the financial industry?  It is our job to know how credit works for our members, understanding why weekly interest makes more than quarterly compounding, and be able to know why the Fed dropping rates affects us.  But in reality, how many of us have perfect credit or save all that we can or budget properly?  Just because we know how to do these things, doesn’t always mean that someone will apply their knowledge to their personal life. 

I’m a huge advocate of encouraging (making) your employees use the products your company offers.  If employees don’t like what you have to offer, chances are your members or customers won’t either.  So if your employees don’t use your CU as their PFI, how good will they be able to sell your products?  The employees that have the highest insurance sales numbers tend to be employees who have had to use the product themselves.  Why?  Because they have actually experienced the benefits and don’t just have to sell the features. 

Get your employees using your products.  Help them create budgets for themselves, fix those leaky faucets, and invest properly.  If you can make that happen, your employees will automatically take care the members/customers, not with their knowledge, but with their experience.