Take Control Through Entrepreneurship

coach entrepreneur success Sep 16, 2022

Do you find that you want a career where you can create your own terms for work, set your schedule, or have the freedom to work where you want? Then maybe entrepreneurship is for you.

More and more people are choosing to leave their jobs to launch their own businesses, doing something that they are not only passionate about but where they can work toward the flexibility, freedom, and satisfaction that they crave.

There are many reasons why someone may choose to become an entrepreneur instead of joining a 9-5 job. This includes:

  • Independence and Autonomy
  • Income Security and Financial Success
  • Family
  • Dissatisfaction with Current Work Arrangements
  • Achievement, Challenge, and Learning

 

Pros And Cons

There are several benefits to choosing to become an entrepreneur.

Freedom and Flexibility

When you are your own boss, you have greater freedom and flexibility. You can choose where you work, when you work, and how long you work. You decide how much time and effort you want to put into the business.

You have control over the business

Whether you offer a product or a service, you have the final say over everything. You control the operations, sales, marketing, and production; you even have control over who you hire as well as the wages. You control what kind of culture your business has and the direction that business will take.

Potential to earn a high income

This is a huge one for people looking to become an entrepreneur—the potential to earn a lot of money. The business's success is your success.

You can follow your passion

This is an opportunity for you to reach the dream countless people have; to do something you love and are passionate about. You have the ability to have an impact on people, as either consumers or employees.

Learn additional skills

You can develop your leadership skills and learn additional skills such as time management, multitasking, and organization. Most entrepreneurs have the drive and desire to advance themselves and learn more.

However, with all things in life, entrepreneurship has its drawbacks too.

Greater responsibility

The benefit of being responsible for your business and success is a double-edged sword. You are in charge of most, if not all, things; you control Marketing, Sales, Operations, Production, Finance, Legal, and more.

Greater financial risk

Though there is outside funding that many entrepreneurs can access, many people still invest quite a bit of their own money in launching and running the business until it becomes profitable.

Greater stress

You have more responsibilities and money tied up in this business. The stress is higher because the risk of failure is more real when you are the one who will feel the financial consequences. Being an entrepreneur has you wearing many different hats, which can become emotionally and physically exhausting.

Greater sacrifice

When starting as an entrepreneur, you will likely have to work harder and longer hours than you typically would in a 40-hour work week. You are investing not only your money but your time.

Competition

You will be competing against not only other established businesses but, possibly, other start-ups. Competition is inevitable, so it is important to figure out what makes your business different from those you are competing against.

 

Why People Leave Their Jobs

Over the last couple of years, over four million Americans have quit their jobs. With the pandemic and the shift in work-from-home opportunities, many people began experiencing considerable shifts in priorities.

The people who were hit the hardest were women and parents of young children. Because of everything, many parents weren't able to work the typical 9-5 job and were forced to find positions that offered greater flexibility, such as entrepreneurship. Many of us were forced to reevaluate what would be best for our families and ourselves, and what could afford us the flexibility, freedom, and stability we needed.

Another huge reason people left their jobs or switched industries was burnout. When we are emotionally burnt out, we can start to feel trapped, living the same day and routine, over and over again.

Over the years, many workers have been giving more and more of themselves without being able to fill themselves back up. It is important to balance being a giving person and learning how to take care of ourselves. As a society, we get it a little twisted where we focus on giving so much to others that we don't know how to give to ourselves.

This is why being an entrepreneur is attractive to many people, because you are your own boss, and you can set your boundaries without as much fear of repercussion.

 

Take Control Of Your Future

Even with these risks and difficulties, many people still pursue entrepreneurship to take control of their lives. At some point, you say that "enough is enough" and that you aren't going to keep pushing yourself and sacrificing your personal life. Entrepreneurship gives you the financial freedom that many people want and, over time, has the potential to earn you a lot of money. Entrepreneurship provides you with the chance to succeed on your own without being tied to a business that doesn't care about your needs. You can make not only a difference in your life, but the lives of others.