Entrepreneurship, and Both Sides of the Coin
19 Mar 2015
Every year thousands of individuals graduate with a Bachelors or Master’s degree and want to join the corporate world. However, they constantly debate with themselves as to whether they should choose to be an entrepreneur or an employee, and are sometimes left clueless. While being an entrepreneur can be one of the best choices you could ever make for yourself there are some drawbacks associated with it too.
The brighter side of starting up your own business firstly, is that you’re your own boss. You no longer need to take orders from others and be assigned pay rates and work hours, and days off etc. On the other hand, this may lead you to working overtime. While an office job would revolve around a certain number of specified hours, having your own business concern might require you to spend continuous days and nights at work, without a real break.
Secondly, all your profits are yours! Yes, when you start up your own business, all your profits are entirely yours. Apart from reinvesting into the company and paying off employees, most of the remaining money is yours alone. In strong contrast to this, as an employee you will only earn a small percentage of the company total profit as your salary, and every now and then this will frustrate you.
Being an entrepreneur, you can build yourself and your company a great reputation in the industry. For once, you can actually do something big for yourself and be known for your business and excellent products. However, if this goes wrong and your business doesn’t go as well as you expected, you’re likely to not be offered a job in the future, knowing what happened the last time you managed something on your own.
All this said and done, working for an organization and being someone’s employee will only let you reach a certain position even at your highest high. This is not the case with being an entrepreneur, where growth is infinite and there are no limits to the extent you can build yourself and your company.
Being an entrepreneur additionally required greater involvement in the company, extensive knowledge on various departments of a business, and continuous hard work. The chances of failure with having your own business are also much greater than that associated with being an employee. Similarly, the perks of both can’t be compared either.
The wisest way to actually decide which path you should adopt is maybe to analyze yourself and assess whether you’re carved out for the job market or believe you have entrepreneurial and leadership skills, in which case you might want to start up your own company. Either way, if you remain determined and focused, chances of success are high, and you are likely to go places!