Entrepreneurship is the new equalizer. Regardless of your background or upbringing, you can leverage the power of entrepreneurship and reap great dividends for a fulfilling and successful life. To know why being an entrepreneur is, quite simply, the best, read on.
As an entrepreneur you can:
1. Develop financial independence.
Contrary to popular belief, entrepreneurship does provide financial security. Unlike in a job, where your entire income stream is based on a single source, while running a venture, you are completely in charge of your earning potential. Financial independence means different things to different people. To some, it means having the cash to buy what they want. To others, it means saving for retirement or a home. Finally, there are those people for whom it means being able to open bills without dread. Regardless of your definition, entrepreneurship gives you the option to control your money, and not let it control you. That’s a victory worth celebrating.
2. Set your own schedule.
You are in possession of one of the most valuable gifts: time. What will you do with yours? An entrepreneur has a greater command over his schedule, despite the greater workload and demands. You can prioritize and do the more important work instead of having to spend your day doing mundane tasks like you might be doing while in a 9-5 job.
3. Bring your ideas to life.
Entrepreneurs bring ideas to life. If you know that you will not find peace in your life until your vision becomes a reality, you are willing to invest valuable resources and acquire new knowledge, it could be time to start your own business.
4. Have creative freedom.
5. Release the fear of being fired.
The fear of being fired can make anyone’s workplace uncomfortable. However, as an entrepreneur, it is highly unlikely that you will fire yourself. There is a “random quality that exists in layoffs and terminations; working overtime and generating significant revenue for your organization will not necessarily guarantee that you escape the axe.” But layoffs can be a good thing. There are plenty of entrepreneurs who have celebrated being let go — in fact, getting fired led them to entrepreneurial success.
6. Be challenged — in a good way.
Entrepreneurship is challenging and rewarding. You will have to overcome challenges like competition, funding, planning, and the list goes on. But it is such challenges that breed solutions and equip you with the potential to innovate and disrupt industries.
7. Create a legacy.
What will be your life’s legacy? According to SUCCESS magazine, your legacy is, “something you create during your life solely to benefit future generations…” Business philosopher and author Jim Rohn suggests that “Those who came before leave us the world we live in. Those who will come after will have only what we leave them. We are stewards of this world, and we have a calling in our lives to leave it better than how we found it, even if it seems like such a small part.”
8. Work from anywhere in the world.
Working from home has become increasingly common — even more so for start-ups, home-based business owners, freelancers, and solopreneurs. Entrepreneurs enjoy the luxury of working from anywhere on a regular basis. They choose to work from a home office, a leased office or the beaches of the world — the world is their playground. Literally
9. Gain personal fulfillment.
Entrepreneurs are not stuck in passionless careers. Sadly, that is not the case for many employees who report into a thankless job, day-in, and day-out. The pursuit of passions drives small business owners. Economist Larry Smith, in a TED Talk, asserts why some will fail to have a great career. Don’t let that be you. What’s your excuse for not following your passion?
10. Impact the lives of many.
Social entrepreneurs identify a social problem and start a venture to solve it. The era of the social entrepreneur is here. The “role played by entrepreneurs in advancing positive social changes” is growing according to David Bornstein in a NY Times post. “I don’t mean business people solving social ills, but people spreading new approaches — through non-profits and businesses, or within government — to address problems more successfully than in the past.”
We hope you enjoyed our article. Let us know in what other ways is entrepreneurship the best by dropping in a comment below. Do check out our related article and know why start-ups fail.