4 reasons why you should become an entrepreneur

Have you ever considered becoming an entrepreneur? Most of us have never offered to be one, so we never bother becoming one.

Growing up, most of us had been influenced by our parents to study in school and get a high-paying job.

And it limits our options.

Rarely does someone introduce us to entrepreneurship. Not unless we have a family of entrepreneurs in our bloodline.

Fortunately, entrepreneurs such as Bill Gates, Mark Zuckerberg, Jeff Bezos, Elon Musk, Brian Chesky, Robert Kiyosaki, and many others have inspired us to become one.

But what is an entrepreneur exactly? And how does it differentiate from being a businessman?

According to Investopedia, an entrepreneur is an individual who creates a new business, bears the most risk, and is commonly seen as an innovator with a source of new ideas.

Well, that definition seems to fit also for being a businessman, right?

While entrepreneurs and businessmen are used interchangeably, they are different people. How they approach the business makes the difference.

Here are a few differences between the two.

So, which is actually better between the two? I would say, a combination of both.

An entrepreneur who is impact-oriented, creates opportunities, calculates risks, and optimizes profits is the way to go.

Now that you understand what an entrepreneur is, why become one?

Here are the 4 reasons why you should become an entrepreneur

While there may be several other reasons why you should consider becoming an entrepreneur, these will help decide if you want to become one.

1. Unlimited income potential

By working for a company, your earnings are decided by someone else. Being an entrepreneur, your earning potential may reach millions, if not billions, or not even earn at all.

It’s a high risk, high reward for being an entrepreneur.

2. Earn more time

When you’re just starting out, you would only be a one-man team. But as the business grows, you start bringing people together and forming your team.

When you have assembled an all-star team, you can then start delegating tasks to them.

This simply means that it will cost you some profits by sharing it with your team, but in return, you will earn more time.

And by doing this, your earnings may be considered as passive income already.

Plus, with the help of technology, You can automate most tasks even if you’re starting with yourself.

3. Make the world a better place

Our world faces a lot of problems every day. Entrepreneurs create innovative business solutions. And in the process, it opens a lot of opportunities for other people.

Take Uber for example.

By not acquiring new cars, it utilizes existing vehicles on the roads and helps with traffic congestion problems. And it also opens an opportunity for those who need extra income by driving their cars in their spare time.

Plus, it adds convenience to passengers by booking a ride in just a few taps on its app.

It is indeed a very innovative solution that Uber created.

4. Keep doing what you love

This simply means that you can keep doing what you love (i.e. hobbies and interests) and find a way to monetize it.

For example, I love sharing my entrepreneurial journey with you through my blogs, which I can then monetize by displaying Google ads, promoting affiliate links, or I could possibly sell products or services to my audience.

Here’s another example.

If you are passionate about any sport, you could start a coaching program, sell sports merch, or even start a blog and monetize it.

The possibility is limitless.

You just need to be creative. I know you’ll figure this out on how to monetize your passion.

Final thoughts

Becoming a successful entrepreneur is not that easy. But with the right mentors, resources, and willingness to learn, you will be successful on this journey.

If you have decided to become one, I highly suggest that you keep learning because you will be navigating the extreme challenges of having a business.

Here’s how to increase your chances of success and make educated decisions.

Learn from other entrepreneurs, read books, watch SharkTank (It is a reality tv show about entrepreneurs with unique ideas seeking mentorship and funding from the Sharks), and of course, read my blogs where I share a ton of resources and business tips with you.

If you haven’t decided yet, what’s holding you back from becoming an entrepreneur?

It is because you don’t have time or lack of financial resources to start your entrepreneurial journey? Let me know in the comments below.

And if you liked this article, then consider sharing it with your friends.

Featured image credit: Andrea