Why Consider Entrepreneurship?

Why Consider Entrepreneurship

Putting Your Own Ideas to Work

The freedom to pursue your own ideas and intuition is a major advantage. You can spend your time and energy focusing on developing your own ideas and converting them into a successful business model.

You Are Your Own Boss

You make the decisions, you decide who to work with and decide what work to do. There may be instances where you don’t agree with the corporate culture of a firm, or how they conduct business. Here you get to choose how you will run the business, what corporate culture to instill. Google, at the start up stage had a simple motto- “Don’t Be Evil”. They are known to have a corporate culture which is far different to the prevalent corporate culture. By starting their own company, the founders had a chance to infuse culture and business practices they believed in and you can do the same when you start your own company.

Choosing the Location

Choosing a business location will be your own decision. You may choose to operate close to your market, or you may choose to operate close to home. The decision is entirely yours.

Large Earning Potential

By starting your own business, you will be the owner and own most of the equity. If your business is successful, you have the potential to earn a lot more. Some people may view their jobs having no career growth or financial growth prospects. If you feel the same way, then maybe it is time for you to consider starting your own business. However, the downside is that there is no guaranteed pay check, but then again, there is no guarantee for your job security as an employee.

Choose Your Working Hours

More than anything, this offers flexibility in working hours rather than working less. Most successful start-ups are the result of long hours and hard work. But the upside here is that you get to choose when to go on vacation, when to work and so forth. Just as long as you get the required work done, there is no stopping the flexibility.

Get Involved in the Operations of Your Business

Since the start-up is your idea, your business, you are free to involve yourself in any aspect of running the business. This is best illustrated by an example. Steve Jobs, the co-founder of Apple Inc., involved himself in every step of the business, right from idea generation to design, manufacturing, marketing and the in-store experience. He was able to devote himself entirely to his business and as a result his products and company are one of the best in the world. Seeing your business grow from ground up can be very satisfying and fulfilling.

Make Your Business a Family Asset

Many of us want to leave behind a sense of financial security for our family. For example, since you will own most of the equity in the company, you can pass it down to further generations so that they have a sense of security. Maybe your children can take over running the business from you when you are ready to retire. Family businesses can also provide employment to other members of the family.