If you’re an aspiring entrepreneur, you’ll have heard a thousand reasons why NOT to go into business. It’s risky. It’s hard to make any money. You’ll have no time. You’ll go bankrupt.
But for all those negatives, entrepreneurship has is allures. It promises a life of untold wealth and satisfaction that simply isn’t possible going through the regular career channels.
You’ll Have More Spare Time
Entrepreneurs famously have no spare time. They’re working all hours of the day to get the job done and to deliver a product. But that characterisation usually only applies for the first few years of business. After a certain amount of time, entrepreneurs can sit back and relax, leaving the heavy lifting to all the people they have employed over the years. That’s not to say that you’ll be working four-hour work weeks. But you will have more time than you would have had had you gone down a conventional career path. Of course, the amount of time you put into your business is your choice as an entrepreneur. After all, you are the owner.
If you choose a regular career, like a doctor or a software programmer, you’ll make a fair bit of money. But when all’s said and done, you won’t have anything left – apart from an inheritance – that you can pass on to your kids. If you’re the sort of person who wants a dynasty, then having a profitable business to your name is the way to go. You can pass on your business to your children, and they can enjoy the life of luxury you have.
If we’re honest, the biggest reason people go into business for themselves is financial independence. Rather than having to scrabble around for years earning a poxy salary, entrepreneurs can simply find a business broker, sell their business and make off with millions of dollars. How you define “financial independence” is up to you of course. But usually, it means having a retirement hoard, an unlimited supply of money in your bank account or having lots of stock options and enough money to put the kids through college, debt-free.
It’s worth noting that money doesn’t buy happiness, but it can certainly help.
To Change The World
Changing the world is a noble cause. But how do you do it? For many people, changing the world involves starting a business. Many businesses will fall short. But if you’re a visionary, you really can make a difference. Where would the world be today without the entrepreneurial genius of Bill Gates, Steve Jobs and Elon Musk? We’d probably still be stuck in the 1970s.
You Want Recognition
Most people swim through life, never really thinking about their legacy and the lasting impact they will have on the world once they’re gone. But for some people, the thought of leaving Earth without a trace is unbearable. As a result, many start a business to gain recognition in their industry and hopefully become one of the greats. This shouldn’t be the only reason you start a business, but it can be motivating nonetheless.