My friends tell me I should start my own design business. They run their own businesses and they make it sound like fun. I like the idea, but I'm not ready to dump my job. But I'm worried that entrepreneur job description will be too complex and that the job is too risky. I'm taking some entrepreneur classes online to prepare. They're great, but I'm still a little wary.
What do you think? What are the advantages of setting out on my own? I need your advice!
- Ned in Boston
Entrepreneur salary, the hours, the tasks are enormously varied in small business. But there are some things that you can expect to find. For an entrepreneur, salary is far from the only compensation.
Here's a short list of five rewards or advantages of entrepreneurship:
1) Escaping the Corporate World
Some of us can't settle down to a corporate position, standardized and predictable. There's a well-defined corporate culture that's not to everyone's taste. It's mercilessly hierarchical, and many of us find it confining. The alternative is to become an entrepreneur. Salary in the corporate life is like the job: fixed and routine. The entrepreneur job description is varied and volatile.
The most common reason causing people to become entrepreneurs is the independence that it gives them. As an entrepreneur, you'll be able to make your own hours, choose your own vacation dates, choose the location of your office, the name of your company, the product, the promotion, etc
But let's be realistic: entrepreneurship is fun, and it's hard. The entrepreneur job description isn't easy and there may be years when your vacation days are zero.
It goes without saying that entrepreneurs come from the creative class. They have to be creative. Every entrepreneurial venture is unique. No matter how many manuals you read, no matter how many of my columns you archive on your C Drive (e.g. all of them), you'll come across decisions that are unprecedented.
As a matter of fact, entrepreneurs have to be creative from the seed. A successful small business springs from an original idea. The entrepreneur job description begins with creativity.
Running a successful small business can give you financial security more quickly than climbing the corporate ladder. There's no denying that there's risk involved that you won't encounter in a corporate job. But you make the decisions, not some boss, as an entrepreneur. Salary is in your control. The entrepreneur job description may be demanding, but it can be lucrative.
Income isn't always top priority for an entrepreneur. Salary is important, but there are other measures of success. Some people start home businesses so that they can work at just 20 hours a week. They may not accept all the work they are offered. They may have another source of income, or there just may not be room in their lives for a full-time position.
The degree to which you will be able to do this varies according to a number of factors: the product, your capital, etc. But if working part-time is your goal, you will find a way.
Running a small business isn't for everyone; some people like the regularity and dependability of corporate life. But for others, becoming an entrepreneur is the obvious career choice. So consider getting an online certificate in entrepreneurship -- it'll be great preparation!