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How to Decide If Entrepreneurship Is Right for You

April 04, 2012 | Comments: 0 | Views: 148

Corporate Career v. Entrepreneur: An Insider's Look

Sometimes in this economy, individuals struggle with the thoughts of continuing a Corporate Career vs. branching out and trying their hand in Entrepreneurship. The information in this article can help you gauge what being an entrepreneur is like and assist give you a glimpse of how your transition from corporate to entrepreneur can be whole lot less stressful.

"Get a good education and then get a good job" is the conventional wisdom for attaining financial stability. You get a check for every week you work. But once you leave the company, the checks stop - there is no residual income from that job. You build benefits over time, like pay, vacation and retirement. You build up your reputation and influence. But the corporate bottom line always prevails. In spite of the loyalty you show over the years, you're toast when the corporate chieftains move their pieces (you!) across the board. Sometimes you can scramble to find a suitable replacement job, sometimes tough-times follow.

As an entrepreneur, income can be hugely variable, especially in the beginning. And there's the risk you may not make any money at all and loose the money you put in. But once your venture works, making money becomes easy and fun. Any extra money or effort you put into it only results in more profit! An entrepreneur is really someone who has learned to fulfill people's needs and make a profit. When you learn that, it's like a license to print money!

The stability of being an entrepreneur isn't just about making tons of money, though that certainly helps. It's about knowing how to make money doing what you like. Like the Chinese proverb: Give a man a fish, feed him for a day; teach him to fish, you feed him for a lifetime. In corporate, they give you a fish when you perform. As an entrepreneur, you are fishing. And you can fish anywhere, anytime, any-how, for as long as you like.

In corporate, you are carrying out the company's objectives, whether or not you like them or agree with them. In a good company, your objectives and how you are allowed to achieve them are personalized to some degree. Ask yourself right now; "Are my corporate objectives personally rewarding? Did I have any say-so in developing them?"

As an entrepreneur, though, what your objectives are and how you go about achieving them is entirely up to you! Obviously, you still have to actually set and achieve the objectives - business doesn't just happen just because you wish it. But there is no bad boss, no company constraints (budget, strategy, risk tolerance...), no sabotaging employees, or other institutional factors to constrain you. This is freedom, and it's not just theoretical.

Entrepreneurialism isn't for everybody. Some people need the apparent stability of a steady paycheck, and need the structure corporate provides. When you have a good fit with a company, a long-term career can be challenging and rewarding.

Where you are in life now can have an effect on your success as an entrepreneur. A younger person, with little or no corporate experience, could find that risking all on a venture is not really that much of a risk - after all, what is there to really lose? On the down-side, they may not have all their inter-personal skills developed yet or may lack the daily discipline to carry out the venture.

A retired person could also find that going entrepreneur has little risk because they've already taken care of their short-term income needs and they have built up plenty of discipline to carry on the day-to-day without someone looking after them.

And on the other hand, a mid-career professional who has a dependent spouse and children may find risks intolerable without far more planning and preparation. Remember, though, once entrepreneurial success is achieved, financial stability will follow.

Shawn K. Woods is President of Strategic Master Communications. (SMC) is a Leadership Development, Talent Management, and Executive Coaching Resource that's been used to cultivate, inspire and encourage diverse audiences to find their passion, execute their plans and make personal and professional decisions that will enhance and enrich their lives.

Through SMC's POWERFUL motivational messages shared in keynotes, seminars, workshops and on-going coaching sessions, we've been able to remove the fear of failure and rejection from the minds of individuals and empower them to find their passion and purpose in life, chase their dreams and REACH their Full Potential.

As a Coach, Mentor and Advisor to those who have been fortunate enough to attend one of SMC's dynamic speaking engagements, Shawn and his team have been able to nurture and motivate individuals, teams and organizations to follow their dreams, enhance their lives and perform at a higher level for success. If you are ready to experience the EMPOWERMENT that the Strategic Master has to offer, you can visit him at

Source: EzineArticles
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