Understanding the MTV Generation by Rebecca Morgan Ask, "What's a CD?" and most respond, "Compact Disc." Ask about bankers' hours and you'll get a puzzled look in lieu of an answer. Ask about planning for retirement and you'll be reminded that seeing a UFO is more likely than receiving social security. They're skeptical, technically savvy, and all but immune to sales pitches. next generation consulting dubs America's young consumers (ages 19-39) "the MTV generation" and concludes that their earning potential is tremendous. . American Demographics seconds that motion. In September, American Demographics reported that single 18-24 year olds earning over $50,000 a year grew 75 percent from 1994 to 1997. Single 25-44 year olds earning that amount grew by 59 percent. And the number of 18-44 year olds earning upwards of a cool 100K per year skyrocketed as well. What do we know about the MTV generation and how can you and your business cash in? When people share their impression of Generation X (b. 1961-1980) at seminars, terms like "lazy,""slacker" and "disloyal" surface But organizations aren't totally sour on this generation, either. Gen Xers thrive on change, are creative thinkers, and learn 4-5 software titles each year. Despite their negative stereotypes, today's young have the skills and chutzpah to lead tomorrow's teams. So let's look more closely at what makes young consumers tick. Skeptical: Gen Xers came of age as American institutions were crumbling. The Iran-Contra scandal, declining U.S. scores in math and science, the Challenger explosion, corporate downsizing and unemployment, high divorce rates, razor blades in Halloween candy, and faces of missing children were headlines as children came of age in the 1960's, 70's and 80's. The result? A generation of young people who don't talk to strangers and rely on themselves. Gen Xers are skeptical. Savvy: Gen Xers grew to be savvy consumers on a steady diet of information and technology. This is the first generation of Americans to understand that Apples[TM] have memories. Video games, computers, and cable television exposed them to millions of megabytes of electronic stimuli, available 24 hours a day. Gen Xers have adapted to the information overload. They have learned to use technology and other resources to sift through the hype. They've heard it all from the time they mere mini-bytes themselves. They use technology and information as tools to make informed decisions. They're savvy consumers. Self-reliant: 40 percent of Gen Xers were raised in single parent households. This is Americas first generation of latchkey children. They learned how to set the VCR, set the table, and set the agenda for what they wanted from dad on weekend visits. This generation is highly self-sufficient and can take care of themselves. Don't micro manage them. They want responsibility and credit for doing a good job. Generation X is our first consumer group of multi-taskers. They rely on themselves to build the skills and networks that will take them from the break room to the boardroom. Swift: Gen Xers like fast computers, quick turn-around time and instant access. Gen Xers don't wait for organizations to open. They do research, apply for loans, and comparison shop electronically, preferring to search online than wait inline. Gen Xers do face to face banking less than twice per year. Why? It's not convenient. And convenience is the name of the game. Gen Xers want to streamline their lives, to make things simpler, and swifter. Gen Xers are skeptical, savvy, self-sufficient and swift. The timing of financial modernization couldn't be better. To find out more about the MTV generation, contact Rebecca Morgan at next generation consulting world headquarters:888-922-9596 or www.rebeccaspeaks.com Rebecca Morgan is America's "Gen X'Pert." Morgan's firm, next generation consulting, shakes the Armani Armor from Corporate America and puts them in touch with today's young. Morgan speaks about "Marketing to the MTV Generation" and "Turning Slackers into Superstars: Managing young employees" at conferences across the country. Morgan invites your feedback on this article: rebeccaspeaks@earthlink.net