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The 5 Obvious Advantages of Becoming an Entrepreneur

Published on April 23, 2021

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When it comes to the decision about whether or not to be an entrepreneur there are three types of people: those who know they want to own their own business, those who know that being an entrepreneur really isn’t for them, and those who think they might want to open their own business but can’t really decide if it’s for them or not. For the first two, there’s really nothing to be said. It’s black and white. The third type of person, however, typically needs convincing before they take those crucial first steps. Here are five solid reasons why to consider becoming an entrepreneur.

You control your fate.
If you are currently working for someone else, take a look at your job. You have a set schedule, which depending on the type of job you do may or may not change each week. You have a boss you report to about every aspect of your day, and you need to keep them in the loop about what you are working on. You have deadlines that must be met, and meetings you must attend that may or may not concern you.

For eight hours every day you are at the mercy of the company you work for, and you have little control in what you do. They can hire you, and fire you as they see fit. You show up, you do your job for forty hours a week (and sometimes more if it is required), you get paid, you go home, and you repeat it the following week. Being an entrepreneur gives you more control, because you are the boss. Things go in the direction you want them to go. Why let someone else tell you where to go, when you can do it yourself?

You control your time.
When you think about it, even if you’ve been with the same company for a long time, you still only get so many days off each year. While some companies are more generous than others when it comes to vacations or days off, you still need to book specific time off, around their schedule. It can be difficult being spontaneous or dealing with a life circumstance that suddenly pops up.

Being an entrepreneur means you will have the freedom to spend your time however you see fit. You can balance your time, and have work fit into your life instead of controlling it. Let’s face it, life is short, which makes time our most valuable resource.

You Control Your Earnings.
At most jobs you earn an hourly wage or a salary, which is set by the company or negotiated by a union. While you can get raisesw and promotions, there is a limit to how much you can make. Entrepreneurs on the other hand have an unlimited earning potential.

Of course, there is always the possibility that the business could fail, but for many entrepreneurs that just increases their motivation to try again. The point is, owning your own business prevents others from having the power over how much you earn. Your income is too important to allow someone else to control it.

You control where you work.
Generally speaking, having a job means you have a place of work that you need to go into several times every week. Sure, some jobs allow you to work from home, but typically there is still a base of operations out there you need make an appearance at.

Owning your own business allows you to control that. If you want to, you could run everything halfway around the world, or you could build an entirely online business that doesn’t even have a physical location. You don’t have to be tied down anywhere, because your business can support you, no matter where you are.

You control your legacy.
When you retire from a job, you leave it behind. No matter how long you’ve been with the company, when you leave, someone else takes your place. It’s not a family thing you pass on to your children, and it’s not something you put in your will. Entrepreneurs on the other hand can leave their business to their children in hopes that they carry on with their dream. A successful enterprise can be more than just something to give you your freedom from the nine to five job, it can be something that supports a family for generations. It can be source of pride for many down the line.

While many things can be different from one company to the next, including the amount of control you have, you will never have full control of a business unless you own it. Entrepreneurs know this, which is one of the main reasons they head down the path. For those considering the notion of opening a business they should take the time to understand it as well, because it might just be enough to get them moving.

Written by Team

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