The grass can always be greener when it comes to going independent or working in a big organisation. The benefits and disadvantages are compelling either way. Below is a list of reasons why you should or shouldn’t dive into entrepreneurship.
Pros
Freedom
- One of the best parts of being an entrepreneur is the complete freedom you have to do your own thing. You don’t have a boss, or a pesky manager, you don’t have to answer to anyone, except your customers.
- Flexibility
- You choose the hours you work. No punch clock here!
- Autonomy
- If you like to make your own decisions and control your destiny, being an entrepreneur is for you. The ability to make quick decisive decisions is a key benefit.
- Profits
- There is no ceiling when it comes to what you can earn. You can scale your business to suit your lifestyle and reap all the benefits, instead of lining the pockets of someone else.
Cons
- Responsibility
- When you are an entrepreneur, the buck stops with you every time. If you don't get the work done, you don't get paid.
- Risk
- There is no safety net for entrepreneurs. If the business dives, so do you. When you have a job, that risk isn't there, you get paid no matter what.
- Workload
- You have to do everything when you own your business. From managing the finances to sweeping the shop floor, you need to be all hands on deck all the time.
- Sacrifice
- Think of the business like having a child. You need to give it all your attention and love all the time. You will find it hard to ever really check out, like you otherwise could when you finish your day as an employee at 5pm. There will be lots of late nights and early starts, but the upside is the light at the end of the tunnel.
