Entrepreneur vs Employee.
A huge question.
For some, it can bear the same meaning as Hamlet's: BE OR NOT TO BE. Do you belong to that group as well?
Are you emphasising this decision as huge as your life itself?
Don't do this mistake!
Nowadays, the job market offers plenty of opportunities, where you can mix yours employment with being an entrepreneur.
In fact, having a bite from both worlds can be fun.
Let me show you what I mean.
Entrepreneur vs Employee: What should I choose: being an employee or an entrepreneur?
You see, there are 2 ways to look at that.
One is that you have to find a definite answer.
In other words: you need to go for either one.
The second option would be, you can combine both.
This is particularly great if you are missing some of the essentials starting entrepreneurs must have.
For instance, budget, time, or contacts.
Combining both is also a good start for people who still hesitate if entrepreneurship is worth the risk.
Even though this approach is great, it comes with the risk of being stuck with "thinking small".
While there were a lot of myths written about this topic, the fact is and stays, that whichever path you choose, it is your choice.
You need to KNOW YOURSELF and DECIDE WHAT FITS YOU BEST.
Not what your surroundings, wife, husband, friend, parents, colleagues, or other pals are telling you.
Why do you want to be an entrepreneur?
This is definitely a question, you should start with.
If I can guess, I would say it is something from the following:
- you are tired of your boss
- you hate your job
- you want to have more time
- you want to have more freedom (financially, timely and location-wise)
- you want to give bigger meaning to your work
Those were the very same reasons why I started my entrepreneurial career some 3 years ago.
Even so, those reasons are definitely relevant, you should know IT ISN'T THAT EASY.
I think Noah Kagan, now a successful 8-figure business owner, described it perfectly.
However, without scarring you away (yeah, I want that actually), let me show you some of the PROS and CONS of being an Entrepreneur.
The Pros of Being an Entrepreneur
1. You're in control.
As an entrepreneur, you call the shots.
You get to decide what products or services to offer, how to market them, and what your work schedule looks like.
This also applies to choosing the people you want or don't want to work with.
If you're the type of person who likes having a say in things, entrepreneurship may be for you.
2. You have the potential to make more money.
Let's face it—most of us would love to earn a higher salary.
And as an entrepreneur, you have the potential to do just that.
Of course, there's no guarantee that your business will be successful, but if it is, you stand to make a lot more money than you would as an employee.
3. You can be flexible with your work hours.
One of the great things about being your own boss is that you can usually set your own hours.
If you want to take a long lunch break or work from home one day a week, it's usually up to you (assuming your business doesn't suffer as a result).
This can be a huge advantage if you have young children or other commitments that make traditional 9-to-5 work hours difficult.
Some people like to wake up at 3 am, but some just go to the bed at 3 am and start working just around noon.
Whatever fits you better, working according to your biological clock, will set you up for a better mood.
OMG, how I hated those hotel shifts starting at 7 AM, back then when I was employed.
4. You have no BOSS to refer to.
Unless you really want to, you don't have to refer to any BOSS, as an entrepreneur.
As previously stated, bad BOSS is a reason for people wishing to switch to entrepreneurship. So, if you belong to that group, you'll be loving this.
At the same time, there are ALSO RESPONSIBILITIES THOUGH.
Now, YOU CAN'T BLAME YOUR "STUPID" BOSS IF something is missing, is not on the time delivered, or is delivered with poor quality. You are the BOSS now.
The Cons of Being an Entrepreneur
1. It can be risky.
There's no denying that starting your own business is a risk—after all, there's no guarantee that it will be successful.
If things don't go as planned, you could find yourself out of a job and in debt.
Before taking the plunge into entrepreneurship, be sure to do your research and create a solid business plan so that you know what you're getting into.
2. You'll have to wear many hats.
When you're first starting out, you'll probably have to do everything yourself—from marketing and sales to accounting and customer service.
This can be overwhelming, especially if you're not used to wearing so many hats at once.
If you're not good at multitasking or don't enjoy being pulled in different directions, entrepreneurship may not be for you.
3. You may have difficulty finding funding.
Getting funding for your business can be difficult, especially if it's a new or niche business idea.
Unless you have deep pockets or are willing to give up equity in your company, raising money can be tough—and it's something that you'll need to think about before starting your own business."
4. You Have Not Guarantees
This is similar to taking risks, yet different in the sense that you have no holiday days or sick leave guaranteed.
Yeah, you might plan a holiday whenever you want, but while building up your business, you found yourself sacrificing holiday days for work.
Secondly, if you are sick, it better be during the period your business is stable because you won't get any sick leave.
Lastly for employed people is true, that if they get fired, the government can still help them financially.
On the other hand, if you are an entrepreneur, no government will support you for the time being, and you have no paid gigs.
Tip: Starting Online Business without (a huge) investment can reduce the need for initial investment.
How to know if You Are Ready to Be an Entrepreneur?
Being an entrepreneur is not for everyone.
You have to be able to work hard and be ready for a lot of rejection.
If you are not sure if you are ready to be an entrepreneur, here are a few questions to ask yourself:
1. Are you comfortable with risk?
2. Are you able to work hard for long hours?
3. Are you able to take rejection and keep moving forward?
4. Do you have the drive and determination to succeed?
5. Are you able to stay focused on your goals?
6. Do you have the ability to think outside the box?
7. Are you able to handle failure?
8. Are you able to stay motivated through difficult times?
9. Do you have the passion and commitment to succeed?
If you answer some of those questions WITH YES, you might be ready to become entrepreneur.
How to become an entrepreneur?
First and foremost, you don't have to be next Bill Gates, Warren Buffet or Elon Musk.
The truth is, there is a new term "new rich" mentioned in Tim Ferris's 4 Hours Working Week, that brings totally different approach to what should you aim as entrepreneur in 21st century.
However, staying at the topic, the first step to becoming an entrepreneur is believing in yourself.
Many people are afraid to take the leap and start their own business, but it’s important to remember that you are your own biggest asset.
If you have a great idea, are passionate about your work, and are willing to put in the hard work, then you can be successful as an entrepreneur.
Another key ingredient for success is networking.
Surround yourself with positive people who will support your entrepreneurial journey and be willing to offer advice when needed.
Attend events and meet-ups where entrepreneurs gather and connect with other business owners online.
Building a strong support system is key for any entrepreneur.
Finally, don’t be afraid to take risks.
It’s important to be innovative and think outside the box if you want your business to succeed.
There will be times when things don’t go according to plan, but don’t let that stop you from pursuing your dreams.
Persevere through the tough times and celebrate your successes along the way.
If you want to become an entrepreneur, these are some of the things you need to keep in mind. It won’t be easy, but it will be worth it in the end.
So believe in yourself, network with others, and take risks – and you’ll be on your way to entrepreneurship success!
Employee vs Entrepreneur: I have been There
You see, I have been giving myself this question as well:
Employee vs Entrepreneur?
So, I want to GIVE YOU A BIT OF REAL LIFE EXAMPLE.
First of all, I HAVEN'T COME FROM ENTREPRENEURIAL FAMILY and so far I KNOW, ALL OF MY FAMILY MEMBERS WERE EMPLOYED.
When considering just a DIRECT FAMILY, NO ONE WAS AN ENTREPRENEUR.
So, this can give you a perception, if you are thinking to become an entrepreneur, but feeling limited, because no one from your family has done it.
No worries, you can do it.
I started my entrepreneurship in 2018 (officially in 2020), and my road before that wasn't so successful.
However, one thing I remember when leaving school: I didn't want to work for someone.
(If I just knew it will take me more than a decade to start my company.HAHA)
Anyway, would I recommend going for a "risky" business or a "safe" employment way?
I guess I wouldn't tell you anything new when I say it depends. It really depends on which person you are and what mindset you have.
Because just certain people can work without reward for 6 months, just certain people can work without a boss giving them assignments, and just certain people can work on several projects at the same time.
For everyone matters something else.
Someone needs freedom, someone security.
I think, that regardless of your official "status", you should aim that you do something you are passionate about, which is providing value and you are getting a nice reward in return for your activity.
If this is accomplished in the job, do work. If you can't find this combination in any job, create one and become an entrepreneur.
In my case, I would say, that entrepreneurship was worth it for me.
Never in my previous adult life did I enjoy more money, free time, and pleasure in things I do for a living, but also in my free time, as I do have now.
In the last two years (2020 and 2021) finally was I able to enjoy the proper holiday. Both years 8 weeks of sun.
Below is a picture from the Canaries where we went to escape traditional, cold dutch Christmas.
At the same time, never ever did I work so much (at the beginning mostly) without a direct reward.
Also, there were times when I felt nothing is working, I didn't get clients, no assignments, low income starting out.
What is your story going to be?
So, should you become an entrepreneur or stay employed?
It depends on what's important to you and what type of person you are.
If having control over your work and the potential to earn more money are important factors for you, then entrepreneurship may be the right path.
However, if job security and set hours are more important, then staying employed may be best.
Ultimately, only YOU can decide which path is right for YOU.
In any case, I would be more than happy to hear some of your stories from the past or the future.
So, please let me know.
I hope you liked my blog post and it could give you some new ideas or new perception of the things.
If yes, please do share it with people you think might want to read it.
Cheers, and to your success,