"Should I become an entrepreneur" is a question many people asked themselves. Entrepreneurship is something that has spiked in popularity over the years. It’s become common to see a lot of young kids following this path as advised by their mentors, usually being their parents, who themselves own businesses. It has become a clear career path like any other normalized field of education that students would choose.
But what is entrepreneurship and why is it so popular amongst our young generation?
Entrepreneurship is basically defined as owning a separate business of your own. You’re considered an entrepreneur if you’re working for no one, and if you own your very own business or company. Even though there are multiple courses and degrees on the topic, people who opt for it are usually the ones who dismiss the option of going to college. A lot of the seniors in the business deem college education as worthless and a waste of time and money. They advise upcoming students to develop their own skillset instead and work hard to build their own empire instead of helping someone else build theirs.
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Why Has Entrepreneurship Become So Popular?
Recently, almost every teenager has developed an interest in owning their own company, and there are several reasons to justify that. A major aspect of the sudden surge in popularity is the treatment of degree-holders and employees in general. In today’s world, corporate slavery is noticeable in just about every company that exists, and it’s worse than you can imagine.
People are having to study for years and years just to get a job that barely makes it for them. This leads to them working double jobs and overtime shifts to make more money just so they can live adequately in the competitive market of today. This is also a huge contributor to health deterioration and even suicide cases amongst the youth. Imagine someone with a business degree that they earned after years of struggle, working at a local fast-food restaurant.
"That’s the kind of cruelty that our young generation has to face."
If you’re thinking that this must only be the case amongst undergraduate students, then you’re wrong. Countless Ph.D. holders from several countries have protested in front of their governments to give them jobs because they have been unemployed for a long time and can’t make ends meet. But the sad part is, our governments would rather put a relative in higher positions than these highly qualified individuals.
Moreover, there are countless examples of successful CEOs and founders of companies that have seen immense success over their lifetime. These companies include Facebook, Youtube, Google and a lot more. These businesses have helped their owners accumulate so much wealth that if they were to live their whole life with just the income they received in a day, then they could do so easily. This has inspired a whole wave of the young generation to take up this dream.
The Reason Why:
- You have complete control over what you do.
- As an entrepreneur, you are an innovator.
- There's no need to worry about dress code.
- You have the power to change lives.
- There's more freedom when you're successful.
- You get the feeling of accomplishment for creating something from nothing.
- The opportunity to spend more time with your family.
While there are hundreds or even thousands of reasons, you probably get the idea.
Should I Become An Entrepreneur?
You must’ve heard stories of your relatives or famous celebrities who rose through the ranks and became millionaires by being the owners of companies. It is true that the path of an entrepreneur has a tremendous potential return in the future if the right amount of work is put in, but that’s not where it ends. There are a lot of things you’ll need to consider before opting for this route in your life.
Being the owner of a company isn’t all sunshine and rainbows. You’ll have to put in a tremendous amount of work to secure the future you desire, and it won’t be easy. If you consider yourself a procrastinator, then you should let go of this dream. Firstly, you’ll have to be someone who can get work done without being told to do so every minute. Even though you’ll be missing out on college education, you’ll need to continue with your learning and expanding your knowledge through books and podcasts. If you let your learning be stagnant, you won’t be able to achieve anything.
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You’ll have to learn to sacrifice a lot as well. In your 20’s, when your friends will be out at night partying, you’ll be at home working your socks off. When they ask you to join them, you’ll simply have to say no just because you’re busy building a future. Even when your company kicks off, you will need to put in 70-80 hours per week, sacrificing your sleep because of it. If you think you can’t manage that, then reconsider your choices.
On top of the mental and physical exertion, there will be a few practicalities that you’ll need to keep in mind as well. Starting a new business often requires a substantial amount of capital initially, so you’ll need to make sure you can arrange that sort of money to kickstart your company. You’ll also need to have advisors around who can help you get around with the legal proceedings that are a part of the process. You’ll also need immense marketing and networking skills to grow your clientele.
Whether being an entrepreneur is a good choice or not depends mostly on your personality and determination. If you consider yourself a social person, and great at dealing with people, then this may as well be a suitable choice for you. It could save you thousands of dollars in college education if you choose to go down that route, and you could use a portion of that money in your initial investment. You could work as an employee at your local McDonald’s as well to accumulate some savings as well, that you could later use in your own business.
All in all, if you can work really hard for long periods of time, and are okay with the risk factor involved, then you should be your own boss when it comes to making money. If the thought of being under no one entices you, then go ahead and be the CEO you’ve always wanted to be.
As you can see, the path of an entrepreneur is a lonely and long journey. It takes a lot of sacrifices. As a blogger, this journey wasn't easy. You can judge this chart for yourself.