Entrepreneurship seems to be a trendy career choice but just because we can do something doesn’t mean we should…
Entrepreneurship seems to be something of a trendy career choice at the moment. However, it’s important to remember that being an entrepreneur isn’t something that should be approached in this way. Just because we can do something doesn’t mean we should, and entrepreneurship is no different in this respect.
The hard truth for a lot of people is that they’re simply not cut out for being an entrepreneur because it’s actually something you’re born as – not something you simply decide to become because it seems easier or because platforms like Facebook make it easier to do nowadays.
If you don’t have the passion, tenacity, dedication and mindset to make a success of your business, then you’re going to find that you’ll really struggle. You will probably at some point have to face the reality that you’re just not cut out for it and will find yourself having to go back to a job.
There’s absolutely nothing wrong with this, because even if we look at it from an economic perspective, then it’s simply not viable for everyone to be an entrepreneur – otherwise who would actually take jobs in companies when they need to grow with the right talent?
Mindset is also a crucial aspect of entrepreneurship, and many people simply don’t have the mindset for this – so they’ll find it easier to be employed by someone since they’re more likely to have an employee mindset.
This post is not intended to put you off from entrepreneurship or to make you think you’re not cut out for it, but it’s simply to help you see the reality of it and realize that it’s not as easy as many people on social media like to portray it.
We want to help you decide for yourself if you think entrepreneurship is really for you so that you don’t waste time on something that’s ultimately pointless and will just result in frustration and disappointment, so we’ve listed out some of the top pros and cons of entrepreneurship.
Pros of entrepreneurship
- You have freedom: Entrepreneurs are people who are typically drawn to freedom in all aspect of their lives. They don’t fit into the 9-5 life because they find it too restrictive. They’re constantly looking for something else and coming up with new ideas all the time. Having freedom to choose the clients and projects they take on. The freedom to set their own hours. Freedom to work wherever you want in the world. Entrepreneurship is something that will offer you all of this.
- You can control your earnings: Another thing that’s great about entrepreneurship is the ability to control how much you earn. Whether that’s through one business, project, or even through multiple streams of income. Most entrepreneurs are idea machines so they’re constantly coming up with new ways to add to their income. It’s the perfect career choice for those who don’t want to accept being capped to a certain level of income.
- You’re more likely to be doing what you’re passionate about.There are plenty of people who work in jobs they’re passionate about. Teachers and nurses, for example. The whole point of entrepreneurship is that it’s about paving your own way and creating something on your own terms. It’s not very likely you’re going to find an entrepreneur doing something they’re not passionate about. It’s certainly possible and happens all the time that entrepreneurs lose passion for the original business or project they started. Since they’re highly creative people, this happens a lot, and there’s nothing wrong with that. It’s also a good reason to build a business you can sell. When passion does fade and if you want to move onto the next thing. It’s good to have a financial buffer to enable you to do so.
Cons of entrepreneurship
- It’s risky: True entrepreneurs are risk-takers. But this is not something that appeals to many people and since entrepreneurship is full of risks and uncertainty. It makes sense that a large majority of people will either be put off from the start. Or later find out that the stress of how risky entrepreneurship is just isn’t something they want to deal with. They’d rather have the stability of job instead. If you think that the risks of entrepreneurship don’t really fit in with your personality that’s totally fine. It’s something you need to be honest with yourself about. You don’t want to waste time and energy trying to do something that’s not going to work for you. You could be much happier working for someone else instead.
- It’s not glamorous. If you’ve ever found yourself being drawn in by the so-called entrepreneurs on places like Facebook and Instagram. Showing off their flashy cars, houses and talking about their 6 and 7-figure launches. It’s easy to think all it takes to be a successful entrepreneur is whipping up a few Facebook ads. And sending some email or posting daily “content” on social media. Of course, these things are part of it – but they’re a very small part, and entrepreneurship is far from glamorous.
No matter what you do as an entrepreneur, you have to be in it for the long-haul. You want to be the next Richard Branson or you want to build multiple affiliate businesses where you sell things like windows product key 10. It doesn’t matter as long as you understand that the rewards come from hard work and not from posing.