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starting your own

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Reasons Why You Should Become An Entrepreneur

Although, it seems that almost everyone is thinking about starting a business or becoming an entrepreneur, yet, without doubt, the thought can be a little scary, if not outright frightening. Nevertheless, there are countless reasons for you to give it a shot. Whether you’re pursuing fame, money, or just an escape from having to deal with a bad boss (autonomy), it remains the best venture everyone should take. If you are reading this post, chances are you searching for that one conviction or for reasons why you should become an entrepreneur. To that I say, “welcome to that post that would change the course of nature today.”

Unarguably it is now riskier to depend on your job. Thus, my reason for writing this post on the reasons why you should become an entrepreneur. If history has taught us anything, it is that job security isn’t secured anymore and labour law protection are almost irrelevant in the face of downsizing or bankruptcy. As interesting as this article might sound, I must also postulate that this might not be the life for you.

Reasons Why You Should Become An Entrepreneur

5 Reasons Why You Should Become An Entrepreneur

1. Control your own destiny

The first reason being able to always call the shots, and having the ability to set and fulfil target for your own life. You dont get to do this when are fixed on a 9-to-5 schedule and at the mercy of your boss. In most cases, the company controls how you spend the eight hours of your life and what happens. This is why for many entreprenuers, it is the fear of being fired that motivated them to starting their own business.

The bottomline is, you are limited when working for another company and your life is determined by the paychecks you get. Regretably, things have changed and hardly will you find a company where you can work for years and retire with a pension. The new pension plan you can trust is entrepreneurship because as an entrepreneur you can chose which product or services you want to provide, and have a positive impact in people or the society.

2. Freedom

It’s fun to build a brand and earn a recognition for it. Entrepreneurship certainly comes with lots of excitement, and it gives you the ability to balance your time. For many entrepreneurs, this freedom of time is one of their most valuable resource.

But you must also understand that entrepreneurship is not a game. It involves money, responsibility and it is time demanding.

3. Potential unlimited earning possibilities

This is probably the biggest reason most people want to become entrepreneurs – for financial independence.  Entrepreneurship allows you to achieve this feat.  Fact is, if you are working for a company that is not yours, your salary is set by the job. Although, you can be promoted or get salary increase, those are exceptions not the rule. Your earning potential is fixed regardless of the time you spend at that job.

Generally, critics of entrepreneurship claim that starting your own business do not necessarily mean you’ll succeed. This is partially true. Like the analogy of “half full or half empty”, it all depend on which perspective you view it from, either from the pessimist view or optimist view. If you’re called to entrepreneurship no other career will satisfy you. Period! It is self-motivation and proper planning that drives a profitable business and anyone can fail or succeed in any other career path or venture. Truth is, no entrepreneur would be happy with the status quo of a business that earns them nothing and there lies the driving force to their success. One other significant advantage of entrepreneurship is that there are no gatekeepers to how much you can earn.

Also Read : Beginners Guide to Entrepreneurship

4, Impact

Reasons Why You Should Become An Entrepreneur

Undoubtedly, there is nothing compared to the gratification of knowing you’re responsible for the success of others.  Giving someone a job and watching them succeed can be a wonderful thing. Seeing your ideas provide someone else the opportunity to earn a living, provide for their family, grow in life and fulfill their own dreams is very gratifying. Money doesn’t buy happiness, but it does make finding happiness much easier. And if making money for yourself means you making others rich and having a fulfilled life, then what other happiness ranks up to that?

5. Leave a legacy

As an employee, it is rather unimaginable for you to pass on your career to your loved ones. But this is something you do if you are the CEO of your company, and be proud of. Passing the business to next generation comes naturally. Companies like New York Times and Ford has been passed down through the generations and continues to impact lives.

Like they say, “the road to success is not a bed of roses”, so also becoming an entrepreneur is not going to be all smooth way,  with precious stones loitering on the streets. It can get rough and messy, taking longer time than expected, but it is possible. Yes, it is very possible. But you have to be prepared for the leap.

As much as possible, avoid shortcuts, you don’t want to turn your dream into a nightmare. Always look out for opportunities to grow your business.  You’ll find them. And in all, I wish you best of luck.

 Recommended Book: The ABC’s of Entrepreneurs By Thom Singer and Bryan Menell 

 

If this article answered your questions, would you recommend to a friend?[:]

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Beginners guide to entrepreneurship

[:en]The internet is flooded with crash courses that claim to give beginners guide to entrepreneurship, but do not address the cores of being an entrepreneur. Entrepreneurship can be described as having or developing the right frame of mind to start a business. Simply put, “one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods”.

Beginners guide to entrepreneurship

Before venturing into starting up a business, certain questions must be reflected upon. Such questions as: do I have a business plan, do I have a clue on how to write a business plan, how do I raise money. For this reason, I have written this post on beginners guide to entrepreneurship to address this issue, using simple step-by-step easy to master technique.

Before you start a company, you must have passion and desire to want to do it. Else, maintaining your stand when you are confronted with inevitable obstacles would be difficult. You need to have guts (bold and daring) for starting your own business, able to face challenges. This is because you really need to know to do these things as a beginner. After mastering the simple business steps with your heart you can then progress on your entrepreneurial journey.

Beginners guide to entrepreneurship

Personal Character Traits every entrepreneur must have:

    • Need for independence
    • Need for achievement
    • Internal locus of control
    • Ability to live with uncertainty & take risks
    • Opportunistic
    • Innovative
    • Self-confident
    • Proactive & self motivated
    • Visionary with flair

If you are conviced you have all these traits then we can proceed to the four easy beginners guide to entrepreneurship that entrepreneur must have for his or her business startup.

Good Knowledge

Beginners guide to entrepreneurship

An entrepreneur must have good knowledge of his or her environment, that is the business environment or what most people refer to as entrepreneurship ecosystem. You can’t make an impact in what you don’t know. An entrepreneur must know what goes on in his or her environment. Environment here can mean your area of specialization, your neighborhood or your sphere of intended influence.

To become an entrepreneur, you should be very aware of things in your sphere of influence. For example, let’s say there is a scarcity of something valuable in your environment and you don’t know about it. Someone else will find a solution to that scarcity. And funny enough, the person might be a complete stranger in that environment. Stop wasting time on what won’t take your far. Crave for more knowledge in your sphere of influence.

Great read: How Google Works (By Eric Schmidt, Google Executive Chairman and ex-CEO,  and former SVP of Products, Jonathan Rosenberg)

How Google Works By Eric Schmid and Jonathan Rosenberg

Training

No one is born an entrepreneur, we all learn what it takes in books and in real life experiences. In addition to books and experience, we become entrepreneurs by undergoing specific training to sharpen our effectiveness. Training gives us the opportunity to prepare ahead for situations yet to come. Training gives us extra courage to become effective entrepreneurs.

Is there anything you want to be the best at as an entrepreneur? Train adequately. Perhaps, you’ve found a solution to a specific problem associated to your sphere of influence but you don’t know how to go about it. It’s time to train. You can train by:

  • Reading good books written by successful people.
  • Finding an experienced mentor.
  • Attending seminars, conferences, workshops, meetings and meetups.

I cannot overemphasis the importance of training in your entrepreneurship journey. The truth is you don’t know anything. Personally, the more I learn, the more I realize that I know nothing.

Skill Acquisition

Skill acquisition is different from training. For instance, you can train in business marketing as an entrepreneur but before you can actually market effectively you will need to develop the marketing skills through practice. The key lesson here is that training informs and skills acquisition transforms.

In summary, you need to start practicing what you’ve trained for. You can have all the knowledge in your environment, understand problems and solutions and also have all the training, but it all comes to nothing if you don’t act on them by virtue of skill acquisition.

Recommended book: The Billionaires Little Black Book: The Ultimate Secret Behind Sustainable Wealth

Repeat

Go through the first three steps again and keep repeating them until you reach you have mastered the Beginners Guide to Entrepreneurship, or you decide it is not possible or you no longer want to do it.

So act now! Learn, build and repeat. Instead of creating a formal business plan or doing a lot of market research, understand this simple steps and every other thing will fall in place. The world need entrepreneurs who are ready to provide solutions to the problems that we face each and everyday.

If this article answered your questions, would you recommend to a friend?[:]

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