What are the advantages of being an entrepreneur?
Being an entrepreneur is seriously underrated. There are far more benefits than you might think. Some of the best are also the most overlooked.
If you’ve been debating the pros and cons of entrepreneurship and starting your own business, check out these advantages, and you’ll want to quit your job before you finish reading this post.
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Be The Master Of Your Own Destiny
If you are tired of feeling like you don’t have enough control over your circumstances and opportunities and wonder how to launch a business, then becoming an entrepreneur might be the silver bullet you’ve been craving.
Being an entrepreneur means your present and future is not dictated by where you were born, the family you were born into, how much money you might inherit, whether you’ll ever pick the right lottery numbers on the right day, or the markets and what mood your boss might be in tomorrow, or even this afternoon.
You are the master of your own financial destiny. You can grow your own startup to being worth hundreds of millions of dollars. Even billions. Along with that comes a pretty nice income and additions to your wealth and net worth.
It isn’t just about buying stuff or bragging right either. The most important thing it can buy you is peace of mind and freedom. Freedom to pursue more of the things you care about most.
It’s The Most Sane & Safest Path
While many spend years struggling with the decision of being an entrepreneur, questioning the sanity of it (and their own sanity), as well as the logic of taking such a ‘risk’, entrepreneurship is the safest and most logical path.
Not all of your friends, teachers and family members may agree. Though it is probably even truer today than it has ever been. It will become even more obvious over the next few years.
There are no guarantees a degree will hold value, your job will last another day, or a corporate pension fund will survive the next few years. Betting everything on someone else’s business is just about the riskiest thing you can do in life. Especially if you aren’t right at the top with a lot of decision making power. It’s illogical.
Live & Die With No Regrets
In the end, we don’t regret the things we tried. We only regret the things we cowered away from or put off for too long. This is one of the biggest advantages of being an entrepreneur.
One of the most common of these regrets in entrepreneurship and what it can do for you. It’s unlikely you’ll meet someone who regrets trying their hand at being an entrepreneur. That’s true even if their first attempt failed miserably.
This is your chance to really live your purpose and reach your full potential in this life. You won’t have all the answers, skills and talents to be the CEO of a multi-billion dollar company with thousands of employees on the first day you launch your startup.
You’ll only develop those by doing it and finding great fundraising and M&A advisors. You’ll get there fastest by throwing yourself all in, today.
I go more in detail on this on the video below also on the advantages of being an entrepreneur which you may find interesting.
Make Your Own Decisions & Do It Better
If you constantly notice serious flaws in how other companies do things and are compelled to take action to do something about it, you are probably a natural entrepreneur. Give yourself a chance.
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Starting your own company means you get to make the decisions. You can do things better than your old boss or company, and other providers in the market. Stop complaining. Do something about it. There are probably thousands of other people who would love what you have to offer.
Positive Peer Pressure
As an entrepreneur, you’ll have the power to be the change you want to see in the world. Maybe that is solving a really huge and pressing crisis. Maybe it is just making things more efficient. Maybe it is just making daily life a lot easier for millions of people and families. Or it could be enabling the next generation of businesses to build a whole new world on your platform.
You also get to change things by setting a shining example of how things can and should be in business. How to be as an employer, and a company in the community, of company culture, values and a product provider with integrity.
Create A Legacy
When considering the advantages of being an entrepreneur. if you crave leaving a legacy and your mark on this world, entrepreneurship is a great tool for doing it. It could be by creating a multigenerational business that lasts for over 100 years. It could be creating the next platform that all businesses are built on. It could be new landmarks or how we store our memories. It’s totally up to you.
Teach Your Kids To Do The Same
If you have kids or hope to, then you want all of these advantages of being an entrepreneur for them in their lives and for their families as well. They are going to follow your example, not words.
You can’t recommend they become entrepreneurs and expect them too if your actions showed you were too scared to do it all of your life. If you want them to have the best life possible, get out there and start leading by example today.
Empower Other Entrepreneurs
It’s not just your kids or employees you’ll have the chance to influence. It’s other entrepreneurs too which is something critical to keep in mind as you are thinking about the advantages of being an entrepreneur. You will have the opportunity to make a real difference in the life of other people.
As you begin leveling up through launching, scaling, fundraising and selling businesses to start others, you’ll become one of the most valuable resources to other founders. You can inspire them, advise them on all the things you wish you knew at that stage and perhaps even help fund them too.
Remember that storytelling plays a key role in fundraising and you will need capital to scale things up. This is being able to capture the essence of the business in 15 to 20 slides. For a winning deck, take a look at the template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.
Remember to unlock the pitch deck template that is being used by founders around the world to raise millions below.
FULL TRANSCRIPTION OF THE VIDEO:
Hello, everyone. This is Alejandro Cremades, and today we’re going to be talking about the advantages of being an entrepreneur. Let’s face it. Being an entrepreneur is super underrated. It’s one of the most fulfilling things that one can experience. Obviously, at this point, you may be benchmarking, like against pros and cons, and whether to understand if this is something you may want to take on or not. In today’s video, we’re going to provide you with some insights so that you’re able to decide whether or not making that leap of faith makes sense for you. So with that being said, let’s get into it.
The first thing is that you are the master of your own destiny. Now, you don’t have a boss; you don’t have a corporation that may decide to fire you the next day. Also, you’re able to control your direction, the way that you learn, the way that you go about things, the initiatives that you want to do. Then, also, the segment that you want to be in. As an entrepreneur, you’re able to control your own destiny where your future career is heading, and that is super fulfilling.
It is also the sanest and safest path. Obviously, being an entrepreneur is not easy. It’s full of ups and downs. It’s a super risky scenario, but also anything that has to do with business is risky as well. As I said earlier, you can be in a job in a corporation, and they can fire you at any point.
So, here, by being your own boss, by having your own business, you’re going to be calling the shots. You’re going to be the master and your own boss. You don’t need to report to anyone or to rely on a third party to control where your future is heading. At the end of the day, being an entrepreneur is going to be the safest path to develop that career and to have those successes being super fulfilling.
You live and die with no regrets. I can’t stress enough how one of the biggest questions or the biggest regrets that people have is the “What if?” What if I had done this. What if I had done that. That is one of the biggest regrets when you’re coming to the final days in your life.
So, really being an entrepreneur and taking that leap of faith is going to be super fulfilling in that regard where you’re not going to have “What ifs?” You actually saw that idea. You saw that opportunity. You were excited. You were passionate about that specific problem that you wanted to address, to resolve, to bring a solution to market, and there are going to be no regrets when you get to those years because you can surely bet that you lived your life the way that you wanted to live it and that you had no “What ifs?” because you actually did what you thought made sense at that point.
Being an entrepreneur, you can also make your own decisions and do it better. You can also use data to iterate, to see what’s working, what’s not working. Obviously, those business plans bringing to market; it’s not going to work anymore.
You can use a pitch deck, just like the pitch deck template that you can see below, to develop your story, to see what the customers are saying, what potential employees or potential investors so that you continue to iterate. But with data, you’re going to be able to develop that story, that story that you’re going to be using in order to create that possibility, that possibility around the universe that you’re creating of customers, employees, or investors to continue pushing things forward.
Then forget about the peer pressure. Here as an entrepreneur, you’re going to have that opportunity to develop the future that you want to see, to put that gap that you’re seeing in the market, in that future that perhaps you’re seeing in front of you because at the end of the day when you become an entrepreneur is because you are seeing a problem that is there in the marketplace, and that you develop a solution to address what is happening in the market.
Then also, as an entrepreneur, you have the possibility of building a legacy, creating something that is generating not only great wealth for your business, but also, when you die, you’re remembered. And that is one of the biggest things because being part of this world and putting a dent in it and doing it in a way in which people are going to remember you is super, super powerful.
You can also teach your kids to do the same because by your kids looking at you, seeing how you’re executing. I’ve got to tell you that some of the best entrepreneurs that I have interviewed in the DealMakers podcast, where I have interviewed super successful entrepreneurs, their parents were also entrepreneurs. They were able to see the ups, the downs, to see how they embrace the journey and how fulfilling the highs are. So being an entrepreneur, you’re going to be able to teach your kids that they can also create the future that they want to grow into.
Also, as an entrepreneur, you have the opportunity to make a difference to others. You can empower other entrepreneurs once you’ve come across, and you’ve really experienced that journey. Part of entrepreneurship and being an entrepreneur is the pay-it-forward mentality because there are going to be some other people that are going to come and are going to try to go through the same path that you’re heading into.
With that being said, I’d love to hear on the comment section what you’re up to. Then also take a look at the fundraising training, which is the program where we help entrepreneurs with fundraising anywhere from A to Z. We have live Q&As, templates, agreements, a community of entrepreneurs helping each other all over the world, and I find that you will find great value in it. Thank you so much for watching.
Out Take: Then also, take a look at the video. [Daddy!] Please, I’m recording.