Many people are drawn to entrepreneurship, but don’t pursue it because they fear the intense work it requires. If you decide to become an entrepreneur, you’ll deviate from the norm and experience insecurities that you generally wouldn’t face with a more traditional “nine-to-five.”
What might you gain, though?
Amongst a host of other things, passion, freedom and the ability to work for yourself.
Yes, starting a new business can be scary, but it’s not impossible. In fact, over time, you might find that starting a company was actually a much better idea than working for someone else.
Don’t get me wrong or anything — there’s nothing wrong with a traditional nine-to-five. However, full-fledged entrepreneurship offers an enticing, alternative route that can be equally — if not more — rewarding.
If you’re interested in becoming an entrepreneur or are simply wanting to learn more about going out on your own, one of the most important things to understand is the advantages it can offer.
Below, you’ll find a few of my favorite reasons for taking the entrepreneurial “leap.”
It aligns with passion
76 percent of millennials want to have a career they are passionate about. This was something Patrick Aloisio, founder and CEO of Ascension Brands, knew early on, which is exactly why he decided to attend Babson College as an undergraduate.
While attending a school that specializes specifically in entrepreneurship, he debated internally between getting a traditional “safe” job and taking what he assumed was a “risk” with his own business. Fortunately, he chose the latter, and hasn’t looked back since.
Because of it, he now spends his days as an e-commerce entrepreneur, distributing luxury watches that help improve the confidence of young professionals from all around the world.
Today, he’s inordinately grateful he took a chance on entrepreneurship, as it’s provided more security, less risk and more fulfillment than he previously thought possible.
If he can do it (and countless others just like him have), so can you.
You control your risk exposure
Business owners have complete control over the risks they take when starting a new venture.
There are a few ways these risks can be mitigated, but one of the best (and most obvious) is to take the time to gather feedback before you start your business. This feedback can help you understand how your idea might perform in the market before you actually put it out there.
Additionally, avoid credit card debt up front — whether on your personal line of credit or a business credit card, steer clear of this kind of money trap.
Regardless of industry, starting a company has a few inherent risks.
That said, control what you can, and the peace of mind you’ll acquire from it will likely keep you on the “straight and narrow path” that leads to financial prosperity as an entrepreneur.
Multiple sources of income
At a traditional job, you can be let…