Why should you choose Entrepreneurship over a Job?

The intention of this article is not to rundown people who are doing a job. Both are important and both should coexist. Both have their pros and cons, and if possible will someday write a post about them too. Since I'm an entrepreneur, so this post will cover the positives of entrepreneurship.

Background:

I too started with a job. I was working as a business consultant for a top-tier MNC, thanks to campus placements. My life was the dream life of many parents:

• Earnings in 5 figures right after college.
• Getting to travel around the globe.
• Respect in the peer circle too.

On paper, my life was ideal. But today, as I don the entrepreneur's hat, my life is much more adventurous and happening than in a job. What are the top 3 positives in my life as an entrepreneur? Let's deep-dive.

1) Captain of the Ship

While working at the MNC, something bothered me a lot. Every time we had to make any changes to the report or workflow, we would have to wait for weeks. My proposal will go to the manager, and from him, it goes to people above him in the hierarchy, then to the boss. And if any of the higher-ups had any issue, they would send it back. It gets so frustrating to keep waiting around for weeks with no response.

Ever since I started working on my startup, this problem has sporadic appearances. As a founder, I have complete freedom to execute the decisions I & my team make. I don't have to wait for anyone's approval, and due to this execution happens far quicker. Execution is what matters the most for progress in life.

2) Innovation

While working in the consultant job, we were operating within strict rules & regulations.

I don't mind them, one needs systems for creating order, but not all the time. At times one needs some chaos to come up with something new, something innovative. In my startup, this rule is more prevalent in my life than ever. I have implemented systems for:

• Keeping my employees punctual.
• Taking care of their payrolls.
• Incentivising and rewards.

But we make it a point to give our teams big challenges to work on out of the blue. The aim is to create disharmony. This stimulates the team members from an intellectual standpoint. When the challenge is big, you have to try different stuff and think out of the box. This exercise leads to the team growing knowledge-wise and fosters the innovation mindset.

3) Building Wealth

This is the obvious one, as a consultant you earn well, get perks, and travel abroad. But, after some time the climb starts becoming steeper. Career growth for mid-career professionals is difficult, after a point they:

• Inflation growing faster than your income.
• Signs of burning out (I too faced this)
• Low increments, etc.

Every year you have to wait till March for the increase. As an entrepreneur, as I started onboarding offshore clients, my income grew like crazy. Though in the initial years, I was taking home peanuts, but now my business is running stable. Now I'm taking home a good amount (in a fair way). Now I am paying myself according to the value I am bringing to the table. And the best part, I'm doing the same for my people too. In my organization, people get rewards according to their value addition.

If you have to take one key learning from this post take this:

Time is NOT money. The value you add is the real money.

Are you an entrepreneur or an employee?

Best Regards,

Nazir Mehrab: Offering low-cost Mauritius offshore company formation services.