Table of content
- Introduction
- Why you should be an entrepreneur
- . Entrepreneurship Give you the Opportunity to Set your Own Rules.
- Entrepreneurship offers you a the potential of unlimited Earnings
- . Entrepreneurship Offers you huge Flexibility compared to 9-to 5 work.
- Entrepreneurship offers You the opportunity to follow your passion and continue to learn
- You are in a position to help
- Why Entrepreneurship may not ne for you
- Conclusion
Introduction
There has been a shift in entrepreneurship as we used to know it from the days of Henry Ford, Thomas Edison, C.J. Walker, and J.P. Morgan among other. These were the days when these entrepreneurs used their creative ideas to amass millions of dollars and created global empires that were transferred to the next generations. Today many more people at different scales and from different works of life venture into entrepreneurship. The concept of an entrepreneur has evolved over time and continues to evolve with various interpretations. An entrepreneur can range from the solo Joe the plumber down the road to the multi billion Mark Zuckerburg or Elon Musk, who own and run massive business empires created from nothing and anything in-between.
In fact an entrepreneur could be you!
The number of entrepreneurs in the United stated and globally has risen drastically in the last few decades, with a particular jump coming on the heels of the COVID-19 pandemic. For example in the US, nn 2020 alone, there was a 24% jump in the amount of new business paperwork filed.
This trend remains high and there is no signs of getting back to the pre-pandemic levels. Many now recognize the benefits of running their own businesses and the opportunity to maximize their skills and relying only on themselves and making space in their lives for other things like family, hobbies, travel, or whatever holds their passion.
Chances are that you are one of those who have considered starting your own business, else you wouldn’t be reading an article about the benefits of being an entrepreneur. It is important to know whether running your own business is really worth it.
The rest of this article brings you five top reasons why being an entrepreneur is great for you so that you can make an informed choice.
5 Top Reasons Why You Should be an entrepreneur
Various authors have written on the topic of entrepreneurship and the life of an entrepreneur. Many view entrepreneurs in certain instances positively and other negatively. Whatever the views are about entrepreneurs, in this article we share top five reasons why you should consider being an entrepreneur. It must also be noted that entrepreneurship is not for everyone
- Entrepreneurship Give you the Opportunity to Set your Own Rules.
Many call it “be your own boss” and being able to set the rules of your own playbook. If you prefer to work according to your own strategy, make rules for yourself on when to take vacations, choose your own work hours and how work then entrepreneurship offers that option to you.
Entrepreneurship, gives you that freedom to be in charge. You take charge of where you invest your resources, your time, how to shape the culture of your company, who to hire, or, if you’re on your own, you make choices about how much (or how little) to grow. All of this can be incredibly freeing.
- Entrepreneurship offers you a the potential of unlimited Earnings
All the top richest people in the world, could only get to such endless earning potential through entrepreneurship. No one working a 9-9 kind of job can ever make it to the top rich people list or get a possibility of endless earnings since the salaries of 9-5 workers are set by entrepreneurs who own the businesses that they work for.
There are no limits to what an entrepreneur can earn and the growth potentials are also limitless. In contrast, one of the most important benefits of being an entrepreneur is that your growth is unlimited. If you want to earn more money, you can change up your strategy, add to your offerings, expand, or do any number of things to push your business in a new direction. The most successful entrepreneurs are billionaires. That goal is dangling out there as a possibility for everyone who starts a business.
- Entrepreneurship Offers you huge Flexibility compared to 9-to 5 work.
Humans love flexibility and less ridged rules. Entrepreneurship would give you more flexibility than a 9-5 job. When you are in charge of your own job, you do have a lot more options when it comes to when, how and where you work. If you want to jet off to an exotic place and work by the pool, no one will stop you. If you need to leave early to attend an event at your child’s school, that is up to you. There is so much value in that kind of flexibility!
Despite the benefits of entrepreneurship if you are an entrepreneur or want to venture into entrepreneurship, you need to set realistic goals. While entrepreneurship gives you the opportunity to have a flexible life, it also places great weight of responsibility on your shoulders as a leader of your business to take responsibility for the success or failure. This means that it’s not always an option to leave or pass tasks on to someone else.
As you build and structure your business, keep in mind the lifestyle you are working towards, and surround yourself with the kind of team who will help you get there.
- Entrepreneurship offers You the opportunity to follow your passion and continue to learn
There is nothing as rewarding as following your passion and having the opportunity to continue to learn all lifelong. Entrepreneurship offer you that opportunity.
When you find an idea that you can’t stop thinking about, and you are willing to put in long hours, real resources, and dedicate your life to it, it is exciting! Turning that into a business means you can do something you love every day of your life.
- You’re in a position to help
Many of the great donors, foundations and good men and women impacting the world are successful entrepreneurs who now take up various causes and support humanity. As a business owner, you have the opportunity to influence other lives. You might provide jobs to other people, rent office space in an underserved neighbourhood, sponsor a little league team, join the Chamber of Commerce, send workers out to volunteer, adopt green policies, start a mentorship program, or invest in your community in any number of ways.
Best of all, you can be the business you always hoped to work for. Whether it is just you, or an office of hundreds of employees, you can create the culture you’d like to see and be an example to others of how work could be better for everyone.
Why entrepreneurship may not be for you
There is no question that there are a lot of benefits of being an entrepreneur.
That said, there are some drawbacks, as well.
For all of the freedom you earn, you also take on a heavy load of responsibility. For every entrepreneur making millions, there are many more entrepreneurs barely making ends meet. For every entrepreneur driven by passion and excitement, there is a business owner somewhere struggling to stay engaged in their own brand.
People who do well as entrepreneurs tend to be very driven, self-starters and risk takers. They have a strong belief in themselves and their ideas. They have the ability to find great people and get them on board with the vision of the company. They have a growth mindset that helps them overcome setbacks.
Entrepreneurs also need to be willing to fail.
If you are not comfortable talking about your own strengths, selling your ideas, or admitting you don’t have the answers and figuring out who does, the benefits of being an entrepreneur may not outweigh the positives for you.
If you don’t have a backup plan for the people relying on your income and support, entrepreneurship may not be a good fit for you.
If working from home seems unbearably lonely to you, starting a business may not be the best move.
There’s nothing wrong with working a traditional job. Many people find success, wealth and fulfilment along a more traditional path.
Others find it in entrepreneurship.
Conclusion
Entrepreneurship remains a core means by which many transform society and add value to the world. As entrepreneurship has changed, so have the benefits of being an entrepreneur. In the past, wealth and notoriety may have been the biggest drivers behind those who started a business.
In more recent times, freedom and the chance to change the world seem to be more motivating. Freelancers, innovators, influencers, empire-builders and icons alike have the chance to reap the benefits of being an entrepreneur, if they are brave enough to take on the challenges.