Being an entrepreneur is less risky these days
For years most people thought that having a well paid job with the benefits, 401K, and stock options was the golden ticket in life. Marc Cramer, a serial entrepreneur, business consultant, and the author of five books, would strongly disagree with this generally accepted idea. In the modern constantly changing corporate environment this is no longer the case, and all the guarantees are very vague when it comes to your job. So in times of crisis companies may easily switch from treating employees like a family to treating them as disposable assets.
We’ve all heard the news about large corporations and banks firing employees optimizing their human resources expenses this way. Many friends of mine working in financial sector, large publishing companies, etc., have lost their jobs within the last few months. Some of them now have looked into entrepreneurship to support themselves and their families.
When in business for yourself there’s plenty of risk too, however you know from the start that your profits solely depend on your efforts. An employee trades his time for money and insurance. He works forty hours a week, gets a bi-weekly check, spends the money and repeats the simple cycle again until he’s laid off, retired or dead.
An entrepreneur spends his time in a way that the efforts of today bring in benefits for months and years from now. Time is the most precious resource for any entrepreneur and he won’t trade it for money. Instead he will spend it working out a long term plan that will keep the cash coming in whether he spends more time on it in the future or not.
Besides entrepreneurs always tend to work on various projects simultaneously in order to diversify revenue steams and protect them from failure in case one of the products or services becomes obsolete or does not meet the revenue projections.
You do not need to be the next Bill Gates, Richard Branson or Rupert Murdoch to be an entrepreneur. Today it stands for a person who is in charge of his/her own financial prospects and revenue steams diversification. What is more important being an entrepreneur stands for being yourself, being an individual, and avoiding losing your identity to the corporate crowd.
Before you leave this page ask yourself a question: has your job let you down in terms of what you expected of yourself five-ten years ago and what you’re today?
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I think if you are thinking about becoming an entrepreneur you have to make sure to do your research in the field you get into before investing both your time and money. There is always a risk with being an entrepreneur so you have to be careful with your business decisions.
Interesting.
I would say that being an entrepreneur hasn’t become less risky so much as having a job with a big company has become more risky. Because companies are looking out less and less for their employees it is key for people to develop entrepreneurial skills.
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Awesome post! Added you to my reader a while back have not been dissapointed, keep up the great posting.
Love this post..this what I’ve been thinking all along. Got to spread the word. stumbled, furled, and mixxed.
Thanks a lot.
JeD Chan
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I agree, if ever there was a time to strike out on your own its now! I truly believe that any budding entrepreneur should be looking at the internet as the next big thing, yes I know its been around a while but, the thing is it is still a baby when it comes to what will be possible.
All the best
John
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Very usefull post about entrepreneurship. This is something interesting to learn. Thanks.
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Very informative. I learn a lot from your article. I am planning to start my own business and you article is an eye opener. Thanks!
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I’m not sure if this is true here in the UK. Formerly being involved in web development I have seen a lot of companies bomb out. I am too young to be able to compare it historically though.
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Definitely true, but not everyone has the capacity to be an entrepreneur. And many lucky fellas can indeed get away with a good high-paying stable job.
I don’t think that everyone should start there own business or everyone have a capacity to be a very good enterprenuer. When you start a business its a highly risky thing but the profit you think you will earn is big enough to take such risk? One cannot just go and start business like this….be it any business a store or internet or merchandising or export import. It takes time for a business to develop and grow and yes you have to invest certain capital in it, it may turn out that your business is not profitable in short while but will give you huge returns in long term…till then how do you plan to support yourself and your family ?
I actually think it’s more risky now than ever but the pay off is much bigger. With the recent decline in the real estate market and stock market many people can’t afford to risk their lively hood with a entrepreneurial endeavor.
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Great post. From an internet business perspective, being an entrepreneur is less risky because there are not many costs involved as compared to a brick and mortar business. Heck, people with plans to set an online business can still do it part time while keeping their regular jobs. With time, if they achieve a big success which can allow them to quit their jobs, they can consider focusing full time on their online ventures.
Great post, I really like the last paragraph of your post, It’s more important to be yourself, If you have self confidence & vision on mind & working hard for your goals, You can achieve everything. What’s the big risk? you will lose money or some other problems? but you won’t lose yourself & it’s better to have your own business rather then working on employer terms, Where you start with limited salary & ends up with some double figures. But as a entrepreneur you work hard & have your own targets for the future.
I can understand the whole thought of the article. One problem I see why many people are still hesitant to take make that jump from being an employee to an entrepreneur is the uncertainty. We have to put food on the table and if you quit your job now to start a business of your own, where would you get the money for your daily needs?
Yeah, if you just know the rules and you know how to handle pressure you can really say that being an entrepreneur is very easy.
Becoming an entrepreneur is hard work at the beginning, doing the actual work is the easy part. The hard part is networking to find the potential opportunities. You definitely need a game plan for your networking, your time is short, so find out what works and run with it. Thanks.
Enjoyed reading your article!
Online entrepreneurs definiately has an edge over the offline entrepreneurs with the less costs needed to start, faster spreading the words and easier control of your day. The fact that you can easely combine it with a day job until you get going make it all so much more attractive too.
That said, its not for everyone. While you can get all these black box automated systems, one cant be lazy about any business and thats where so many fail - you have to be comitted in order to succeed, no matter what you go at
Awesome post. I think proper research before your venture is the key to success. This economic downturn is wonderful options to start entrepreneurial ventures. Nowadays these becomes a trend to kick start self business with much zeal. Keep up the great work, looking forward to read more of your writing.
I love beeing an entrepreneur. I couldn’t imagine another a way of living.
yes since this field has nothing to invest and hence it has not risk at all, again this can be done part time too rather than article marketing or affiliate marketing where you need to give full time to it.
The person who never trade for money really gets success, and Entrepreneur does this, while an employee has many risks of investments and all.
yeah entrepreneurs always tend to work on various projects simultaneously in order to diversify revenue steams and protect them from failure in case one of the products or services becomes obsolete or does not meet the revenue projections.
Well i have heard the news about large corporations and banks firing employees optimizing their human resources expenses this way. Many friends of mine working in financial sector, large publishing companies, etc., have lost their jobs within the last few months.
yeah and the reason is an entrepreneur spends his time in a way that the efforts of today bring in benefits for months and years from now. Time is the most precious resource for any entrepreneur and he won’t trade it for money. Instead he will spend it working out a long term plan
More generally held theory is that entrepreneurs emerge from the population on demand, from the combination of opportunities and people well-positioned to take advantage of them.
Entrepreneur is the man who eats stuffs of in-between buyer and seller, now since he has nothing to do with neither product or its success, he is not in risk at all.
only reason of why its not risky is time is the most precious resource for any entrepreneur and he won’t trade it for money. Instead he will spend it working out a long term plan that will keep the cash coming in whether he spends more time on it in the future or not.
trading for money can create risk, but since entrepreneur has nothing to invest nor to buy anything so there are very less chances of getting into risk
Thanks, I do agree that time is the most precious resource for any entrepreneur and he won’t trade it for money.
I love being an entrepreneur. Being an entrepreneur will be hard for the first time, but later on its better than being an employee.
This is so true. Now business are all looking to save money and don’t offer you a good package for letting you go early or laying you off. When times were good they used too. In fact the more money you are making the bigger target you might be to get canned.
I now just work from home; one reason I like it because I do not rely on anyone, but myself to bring in the money. If I fail it was because of me, not because I got laid off.
Power to the entrepreneurs!
This approach is fascinating because so many have always considered an entrepreneurial career to be a risky route that either leads to success or failure, with no middle ground. It appears that with each passing day in this recession, there are more people examining their options.
This approach is fascinating because so many have always considered an entrepreneurial career to be a risky route that either leads to success or failure, with no middle ground. It appears that with each passing day in this recssion, there are more people examining their options.
You won’t lose yourself & it’s better to have your own business rather then working on employer terms, Where you start with limited salary & ends up with some double figures.
entrepreneur is a great way to success.
1. of course the money
2. i don’t like be an employee
OK, if you split yourselves in two parts, one which decided to embark on the project and another, the entreprenuer in you, which is to achieve it, then I see how entrepreneurship is about risk reduction. I am not sure if this is what you mean here though.
Even though I am a 9 to 5er, I often find it funny how so many people in the 9 to 5 world (or retirees from it) tend to look at entrepreneurship as being ultra risky. While there is inherent risk involved in almost any activity, its odd how people never really look at not being an entrepreneur ( or even having some side endeavor), the risk being that you are completely at the mercy of your employer, for nearly everything from health insurance, to when you can take a vacation, to how much you get paid. While there is risk in entrepreneurship, at least there is not much of a ceiling as to how high you can go, the same can’t be said for merely being an employee.
my opinion
entrepreneur is my live, i love it and i don’t like being employee no more other reason
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