Why Become an Entrepreneur
There are a variety of reasons why people may want to start his or her own business. Maybe they feel frustrated with their current jobs, or see no prospects for growth, or no opportunities where there interests or skills may be utilized effectively. For some people, the desire to work independently is a major motivating factor. They do not like to be bound by other people’s restrictions and prefer to live under their own rules and regulations. Still others may feel disillusioned by the politics prevalent in any well-established business.
Apart from this, some people may be attracted by the advantages inherent in starting and running their own business, including:
- Entrepreneurs work for their own selves. They are the sole decision makers, and they do not have to follow paths laid down by others. They choose their own line of business and their working hours, make their own decisions regarding salaries and decide when they, and others, can go on vacation.
- There is always a greater possibility of achieving better financial reward with an entrepreneurship than with working for someone else. Even if the greater financial rewards cannot be reaped, the entrepreneur has the advantage of being able to decide what to do with the revenues and profits
- Starting their own business provides the opportunity to be involved in each and every business decision, from marketing and finance, to human resources, production and customer support.
- Entrepreneurs can have the satisfaction of having started something on their own and making it successful.
- Entrepreneurs also have the satisfaction that they have made a positive contribution to society. Any business generates employment. It may even spawn a new industry, as in the case of the IT industry.
No one reason is more compelling than another and no one reason is a guarantee of success. What increases the chance of success, however, is a strong motivation to start a business, in combination with an engaging idea, careful planning, and persistence.
