Do you ever go into your workplace day in and day out thinking why am I here? I’m willing to bet that it’s probably because of a stable paycheck, a great insurance plan and/or a 401K and stock plan. Don’t be surprised, because more than 50% of US employees are doing so. A lot of times career driven indivudals go to their place of work having their mind set on Friday. That’s what everyone is looking forward to. No one likes to live their life controlled by a 40-hour work week or continue to make their boss and their boss’s boss rich. A lot of times we accept what is given to us. It’s not that you don’t have that idea, it’s because you’re skeptical on putting that idea into action.
A new study shows that America now has over 27 entrepreneurs that are starting or running a new business. That means that almost one in four Americans are creative on establishing income for themselves and also others.
The Worker vs. Entrepreneur
A huge percentage of millennials are graduating college expecting to have a job after completion of school. Most jobs are requiring three, four, five or maybe even ten years’ experience in certain fields. Having a job or career is not a bad thing for everyone. But after going to school for four, six or eight years sucks after not being able to find a job.
There are several new millennial lawyers working in a field that they didn’t go to school for. In fact, for the lawyers that are able to get hired and into their field, they put in countless hours in order to become successful and work for others. However, the fact that as a millennial, you trade your time for money and get paid only when you work is enough to make you realize that everything is wrong with this approach. As Warren Buffett said, “If you don’t find a way to make money while you sleep, you will work until you die.”
The entrepreneur is always looking for opportunities. An entrepreneur looks into paying themselves while sleeping and a worker looks for eight hours of pay within a day.
3 major advantages on being an entrepreneur
Control. You control what time you would like to start work. Not only that, but you get to choose what you love to do. Now, the information that was aforementioned about a job is true. As state before, there’s nothing wrong with having a 9-5 if that’s what you like, but controlling the time, place and how you want to create money is always awesome.
Freedom. When you’re working for a company, you’re most likely expecting a bonus at the end of the year. You’ve put in countless hours, meetings, held out on PTO, took ownership, etc. However, the bonus you get at the end of the year doesn’t meet your expectations Well, working for yourself gives you the freedom to know what you’ll be paying yourself in the form of a bonus at the end of the year. Why? Because it’s based on what you dictate.
Excitement. Have you ever been at a social event and an individual asked you, “So, what do you do?” Having the excitement of telling someone that you’re an entrepreneur, business owner, or a self-employed sounds super exciting. The excitement that you have entered into allows you to tap into your inner thoughts and skills that you didn’t know you had.
There are pro’s and cons to both. Just like anything else in life. We all choose the road we want to go down and we all have the option to go around the fork in the road. Entrepreneurship could actually show the fruits of your labor if you put that same passion into it the way you put it into a 9-5. Which do you feel is better? What’s your long-term approach? Entrepreneur or the 9-5 ? What do you think are the pros and cons for both?
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