In this article we are going to talk about the Advantages and disadvantages of being an entrepreneur. The choice to be an entrepreneur is the finest decision that you have made. If you are the one who strongly believes that being an entrepreneur is the best way to shine in your career, then your decision is almost a valuable one. The person who starts the business on their own can get a name as an entrepreneur. Being an entrepreneur will teach you to face challenges, teach you to lead the people and teach you to shine. It paves a way to set your passion as your career. Being an entrepreneur creates a specific identity in the world. Entrepreneurship is the way to achieve the success very soon.
Entrepreneurs are considered as independent and happy people. But every job has its risks and factors. Though entrepreneurship allows you to move independently, there are several drawbacks that every entrepreneur should face because they decide to be an entrepreneur. There is no job with only advantages. Their success depends on how their spirit helps them to be successful entrepreneurs. The thought of never giving up and the spirit of handling the risks and stress take them close towards the success in their journey of an entrepreneur. This article discusses some pros and cons of being an entrepreneur.
5 Advantages Of Being An Entrepreneur
Being an entrepreneur gives you many fruitful things in this society. The advantages of being an entrepreneur are listed here.
1. Gives you an identity
The decision to be an entrepreneur helps you to create a specific identity in this society. It gives you uniqueness and respect among the people. It will give you an identity of “Boss” for your people. You will be in a position where you can give employment to others. You can be completely independent of any organization except your clients and customers. Being an employee of a company gives an identity as a subset of that company. But being the boss of your startup gives an identity that is completely yours. The business you started maybe a dramatic or a small one. But the name “entrepreneur” gives special status for yourself in the world.
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2. Set your passion as your career
Entrepreneurship helps you to set your career according to your own decision. It allows you to continue your passion as your career. Being an employee in an organization without any passion may give hatred about your job. But starting up your passion as your career will pave a way to enhance your skill as well as your status. It gives the complete heartful feeling about your job every day. The job that creates a place to continue your passion will grandly get success. One who does their work with passionately will reach their success soon. But think of the one who does their passion as their work. The success will knock their door very soon. Being an entrepreneur gives you complete freedom to set your passion as your career.
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3. Work without under supervision
The initiative of starting up your organization makes you take your decisions and ideas completely free. You are the king in your kingdom. It gives you the complete freedom to implement your ideas and facts. The results and effects of your ideas are completely yours. You need not to answer anyone for your own decision. The people who hate to work under anyone’s surveillance can choose the choice of being an entrepreneur. It allows you to direct your employees as you want to reach success in your business. Anyone’s control will not become an obstacle to your path of success. It provides you an opportunity to be a lion in your forest.
4. Makes you keep learning
To be a successful one in this competitive world, it is necessary to be a consistent learner in their daily life. The own startups help you to keep learning new things every day. It allows you to face new situations and problems every day that makes you to learn. The excitement in learning new things makes you alive in this competition. Through the risks they have taken, through the new ideas for the upliftment of the business, entrepreneurs keep learning day by day. It is the platform where the number of uncertain situations will arise. Experience and spirit of continuous learning make the entrepreneurs to accomplish their goals. Entrepreneurship gives you the stage where you can learn life things and can update knowledge.
5. Flexible work schedule
Some people antagonize the regular wheel of working “9 to 5” clocks. As an entrepreneur, you may drive off this “9 to 5 wheel”. You may schedule your day as flexible at your convenience. There are no restricted timings for your job. Your passion and involvement gives you energy to work for your organization. Being an entrepreneur, you may work on days and nights for your success. You may create a healthy schedule as your own for your success. You may start your work as much earlier and you can continue till the nights. No time limits will stop your success.
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5 Disadvantages of being an entrepreneur:
Like a coin, being an entrepreneur have some cons. The disadvantages of being an entrepreneur are listed here.
1. Works without timing
Despite the flexible schedule, the work without timings is considered as the major drawback of being an entrepreneur. As an entrepreneur, you should work hard for your organization success.It will stop you from spending your time with your family. It takes your time for personal activities. You have to invest huge physical work to withstand in your startup. It will result in challenging your physical health. As an entrepreneur, you may not expect a break to refresh your mind. Here I refer break as the period for spending time to mold ourselves. You cannot find time for your happiness and passion. Except for the ones who set their passion as a career, most of the entrepreneurs face difficulties in continuing their passion once they initiate their startups.
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2. Push you to the mental stress
The hard situations, risks in the organization, competition in the field and unlimited work timings may push you into the mental risks. Stress is the main thing that every entrepreneur will face. The lack of sleep, inconsistent works, and the risks results in physical illness. Despite being an entrepreneur gives you the status, it has many risks and factors hidden behind them. There is more possibility to be affected by depression in being an entrepreneur than being an employee. Worries about the steps of the organization, their employees and their investments make the entrepreneurs to be in more stress.
3. No guaranteed monthly salary
As an employee of any organization, you can expect a guaranteed salary every month. Every month, the salary will be credited in the account without any complications except a few cases. But being an entrepreneur, you cannot expect consistent guaranteed salary every month. The income of the organization will not be consistent. Sometimes, the profit will reach a peak. Sometimes, the organization will face unexpected drops in income. So, the investment will be considered to be at more risk. And an additional factor of stipend to their employees will add more stress to their income. Despite the considerable income through the startups is considerable, there is a risk of facing sudden loss in the organization. So entrepreneurs cannot expect monthly regular income.
4. Multi-role actor in your film
As an entrepreneur, you should be able to play multi roles to elevate your organization. The entrepreneurs should be able to be an administrator, be an employee, be a supervisor, be an auditor and so on. Entrepreneurs are in need to handle the situations wisely. They will become an actor who plays multi-role in their film of organization. The people who lack playing multirole will face severe difficulties in their organization success.
5. Requires Strong support
It is not an easy job to start your own business. It is the risky thing that an entrepreneur should take risks to start. Entrepreneurs need strong support to start their business in many ways. It is one of the drawbacks that every entrepreneur will face when starting their own business. They need strong guidance in their business. Entrepreneurs need major support in investments to start their business. They need a strong working team for their organization. Their working team is their strongest support in the war of business. Lack of assistance will push them in the failure sometimes.
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Entrepreneurship is the identity that can be created by them in the business world. Despite its pros and cons, an entrepreneur should have the ability to stand against all their flaws in their field. To be a successful entrepreneur, they should overcome these ups and downs in their life. They should kick away the sequences that are made by their risks. Being never afraid of taking risks is the sign of a good entrepreneur. Never allow the stones to stop your thought of becoming an entrepreneur. Be the one who will be able to handle the risks and tricks in the business to be a successful entrepreneur!