The Ups and Downs of Entrepreneurship

With entrepreneurship reaching new heights every day, especially within the last few years and most prominently, in 2018, it is no doubt that it has become one of the most interesting topics regarding business. It is true, even more so, contemplating the financial side of the business and embracing the difficulty many entrepreneurs face when they try and start their own business.

People are turning towards becoming entrepreneurs, because it’s a far more exciting idea than being employed by a company, with a superior giving you orders as per what you should do every day. Now, there’s nothing wrong with being in such a position, but when it comes to being an entrepreneur, freedom becomes you.

Not only does it open a lot of doors to pursue what you want, but you get to do it the way you want to. For instance, if you’re going to work from home, you can. The same goes for starting your own business. If you feel like starting your own business, you can devote 100% of your time in doing so.

Being an entrepreneur allows you the freedom you’d never have working for someone else. It also allows you to create your own salary, meaning you don’t have to wait around for the annual increase, or promotion which only occurs every 4 years or so. You can thus determine your own salary, every day, for yourself.

The Advantages of Entrepreneurship

Entrepreneurship is Exciting

Being an entrepreneur is incredibly exciting. If you think about the endless opportunities and challenges that await you, it can be very exciting, and even allow you to test new skills and capabilities.

Better Flexibility

Not working for a company as an employee will allow you all the time in the world, to do what you must do, at your own time. You can also put more time into your work, which allows you to spend more time doing what you love.

You Determine Your Earnings

It is probably considered one of the reasons why people turn towards entrepreneurship. If you know what you’re doing, you can determine your earnings every day, to every month, which can even allow you financial freedom.

The Disadvantages of Entrepreneurship

Time is of the Essence

When you’re an entrepreneur, you almost never have enough time to do everything you need to. You almost can’t imagine just how time-consuming it is to work for yourself, to get to the income level you want. Being an entrepreneur is not fun and games, it takes a lot of hard work, and you don’t get to spend your time at the beach like everybody thinks you do.

Entrepreneurship = Instability

The thing with entrepreneurship is unless you’ve got it all figured out from the get-go, and you have a ton of money saved up, starting out, you should get used to having an unstable income for a while. It’s important to remember that, even though you have a plan, it doesn’t mean it’ll be successful. At least not all the time. Being an entrepreneur means having the lowest of lows, but also, the highest of highs, in success.

Your Work Schedule Will Be Unpredictable

Not only will you be working your hours, but you might be working twice, if not three times the hours per week, then you did at your previous job. That includes weekends too.

Entrepreneurship requires a ton of sacrifice to be able for it to be successful. Besides, if it were easy everyone would do it.