No older person lectures here!
I am an outlier among those in my age group. I often defend those who forge career paths outside the box. Indeed I did so in my generation, leaving big firm law for a career as an education consultant. Moreover, there are some who “make it” in the new career path of “influencer”.
Career Counseling Connecticut’s clients have included two reasonably successful influencers, both of whom left corporate jobs to create their own business based on the “Influencer” business model.
Nonetheless, there are so many warning signs regarding this path that parents of young adults should have a general framework to combat impulsive thoughts about leaving college or not going to college to pursue this path.
The traditional 9-to-5 job has lost its appeal for many young people. Gen-Z, characterized by their tech-savvy nature and desire for independence, often dream of becoming social media influencers. Platforms like TikTok and YouTube offer the allure of fame, flexibility, and financial freedom. However, the reality behind these aspirations often paints a different picture. Let’s delve into the challenges Gen-Z faces when they reject conventional careers in favor of social media stardom, focusing on the failure rates of influencers, financial dependency, and the impact on their families.
The Influencer Dream vs. Reality
The concept of becoming an influencer is undeniably appealing. The idea of creating content, garnering followers, and earning substantial income from sponsorships and advertisements sounds much more enticing than sitting in an office. Yet, the journey to success in this field is fraught with obstacles.
Failure Rates of Influencers
But the vast majority of aspiring influencers do not achieve financial success.
TikTok: Only about 0.4% of TikTok users manage to reach 100,000 followers, a benchmark often associated with significant earning potential. The percentage of those who reach millions of followers and achieve sustainable income is even smaller.
YouTube: On YouTube, a mere 3% of channels ever reach the milestone of 10,000 subscribers. Only a tiny fraction of these channels manage to monetize their content to a level that provides a full-time income.
These figures illustrate the steep competition and the difficulty of breaking through the noise on these platforms.
But…a good plan and a sound business model can help
I’m not suggesting that no one should head into this world. For those who understand the historical reference, this is another “gold rush”. There will be millions of would-be influencers who expend a lot of time, energy, and probably parents’ money (room/board) with little return. But some will strike it rich. They will have a good plan and a sound business model. They also will have talent, drive, and business savvy.
Do both
Work a normal job and create your side hustle passion. This is the historical path of many entrepreneurs.