Should You Become an Entrepreneur?

There are many reasons why people decide to become entrepreneurs instead of taking the more conventional route of being employed. Only you can determine the right life for you. While entrepreneurship comes with a lot of uncertainty, it has a lot of benefits that we cannot overlook. In this read, we are going to look at some of the reasons to become an entrepreneur and why it might not be a good idea.

Entrepreneurship Pros:

1. Opportunity to Become Your Own Boss

One of the best things about becoming an entrepreneur is that you gain the freedom to pursue whatever you wish. You become the person who is pulling all the strings and making all the vital decisions as you continue with your venture. You get the chance to immediately use your skills and strengths to make the difference you have always wanted.

Most individuals stay in jobs they do not like for reasons like ‘’the need to pay bills’’ or ‘’need to work for the weekend’’. While becoming an entrepreneur is never easy and you may never amass the wealth you have always wanted, at least you will not be miserable and unhappy.

2. You Get to Discover More About Yourself

Most people quit their typical jobs as they do not like the non-motivational workplaces, promotion barriers, and office politics. Many people with a 9-5 job experience all at the same time. When you decide to become an entrepreneur, the only barriers in your way are those that you allow or are in your industry.

3. Dictate Your Own Schedule

If you are fine with working 35 hours a week and going home in the evening, on weekends and holidays, then becoming an entrepreneur perhaps is not the best decision. You will be probably looking at an additional 20 to 40 hours per week if you wish to succeed in your new venture. If you are launching something on your own, then you better be truly passionate about it as it calls for hard work.

The benefit here is that you gain flexibility in your schedule. You will not be stuck to a mandatory 9-5 routine. If you feel like taking a day off, you can easily do so without anyone’s permission. If you wish to take a vacation, you have all the control over the day and time.

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Entrepreneurship Cons:

1. Your Venture will Dominate Your Life

Whether you succeed or fail in your venture will depend on your productivity. You will not have off days, particularly when starting. While you may have spent some time going through social media or playing mobile games at a conventional job, that goes away in entrepreneurship. If you are not working, then you are not making money. You won’t have paid lunches, holiday pays, sick days, benefits, or even weekends off.

While you do not need to be on the grind round the clock to become successful as an entrepreneur. According to the founder of Enclosed, his day begins with a yoga class followed by work from 8-5. He then takes a break to do other things between 6 to 10 pm, after which he will spend another hour on work.

2. There is no Guaranteed Paycheck

When it comes to making money as an entrepreneur, you are responsible for making that happen. There is no guaranteed paycheck waiting for you at the end of every month. It all comes down to you to make that happen. This means sending out invoices, finding clients who haven’t paid and avoiding those who want you to work for free in return for exposure.

Entrepreneurship is no easy road, but it can be rewarding if you are passionate about what you want to do. By weighing the pros and cons, you will be better informed about whether it is the route for you or not.