The debate between Entrepreneurship is better than a Job is a hot topic in every other career-related conversation nowadays. If we ask this question to our parents’ or grandparents’ generation, most answers would be in favor of a job. Of course, their upbringing and the surrounding environment convinced many of them that pursuing a job was a safer option than starting their own business. However, the tables have turned today.
Thanks to the increasing influence of technology and social media, newer business opportunities are emerging rapidly. Seizing these opportunities, many youngsters are breaking the traditional stereotype and preferring to go the entrepreneurship way. They are not only showing immense growth in their own businesses but also inspiring dozens of aspiring entrepreneurs to take the leap of faith and try their hand in the business world.
In this blog, The Entrepreneur Review sheds light upon the 5 probable reasons why entrepreneurship is better than a job today.
1. You are your boss
It must have happened many times that you have an idea and you think it would do wonders. You go to the boss and share it, but it gets rejected due to some irrelevant and unsatisfactory reason. Sounds harsh, but it’s a reality experienced by many individuals who try to do something out of the box at their workplace. If you are also an individual who has different ideas and creative inputs that are often ignored, you must consider Entrepreneurship is better than a Job.
Unlike any employee working full-time at a company, you do not have to report to anyone. You are always free to try something new, adopt a different strategy, and experiment with the current business procedures. This allows you to use your creative potential to its fullest. Moreover, you can set your own work timings and can take your business decisions independently.
2. No Limits on Money Earned
If you are working for a company, you’ll receive fixed a salary with some incentives (if applicable). While this sounds good in terms of monetary security, it can limit your financial growth. Despite regular promotions and appraisals, your monthly income will always be a fixed number. On the entrepreneurship side, things are different.
When you are starting on your own, you might not always get the desired profits at the start. Establishing a business takes time. But once you are in the game, there’s no stopping. Your finances will always be directly proportional to your efforts and results. With the right mindset and approach, you can turn even a small business into a unicorn.
3. Increased Accountability and Motivation
Accountability is something that is emphasized more in running a business than in doing a job. While at a job, your team leader/senior will be responsible for your work, a manager will be responsible for the team leader’s/ senior’s work, and the cycle goes on. There will always be someone who will be accountable for your success and a lack of motivation can kick in at these times.
Entrepreneurship, on the other hand, requires you to be on your toes all the time. You are responsible for literally everything—the growth, downfall, right strategies, wrong decisions, etc. Although this can take a lot of toll on you, it gives you the necessary motivation and drive to achieve success. And since you are responsible for your success, you tend to go that extra mile and invest that extra hour. This eventually translates to success that is satisfying and long-lasting.
4. Flexibility of Work
How often has it happened with you that you don’t feel like going to the office but have to go as no leaves are remaining? I’m sure most working individuals would have experienced this at least once. Although working from home has emerged as a good option for employees, many companies are still reluctant to allow employees to work from home. Fixed schedules and lack of flexibility reflects low productivity and ultimately less satisfaction.
When you are doing something on your own, you can set your schedule according to your convenience. Based on the workload and importance of certain tasks, you can change your schedule anytime you want. This often results in a relaxed workspace environment and increased productivity. If you are someone who likes to work in a flexible environment, Entrepreneurship is better than a Job for you.
5. Work-life Balance
Work-life balance is something everyone seeks in today’s busy world. And if you are a corporate employee, chances are high that you will struggle to manage your work-life balance. You will often need to work overtime, on weekends, and sometimes even on public holidays. This may not be the case with entrepreneurship.
As you are your boss, you can take out time for your interests/hobbies beyond the cabin. Despite working for more hours, high stress levels, relatively lower incomes, etc., many studies show that entrepreneurs are happier and healthier than those working at a 9-5 job. Renowned publications like Forbes support this claim.
7 Successful Entrepreneurs who quit their jobs to start on their own
- Ivelyse Andino (Radical Health)
- Shep and Ian Murray (Vineyard Vines)
- Rocio F. Brusseau (Overflow)
- Jamie Lieberman (Hashtag Legal)
- Terry Finley (West Point Thoroughbreds)
- Andy Schamisso (Inko’s White Tea)
- Paul English (Kayak)
So, this concludes The Entrepreneur Review’s views on why entrepreneurship is better than a job. Swimming against the stream is difficult, but sometimes it is necessary to reach the shore of success. Choosing entrepreneurship as a career might just be the turning point that can transform your life forever. Choose wisely, live happily!