Most people want to be their own boss, but you may not know the amount of effort and energy it takes to become a successful entrepreneur and head your own company. Even though there are a lot of down sides to starting up your own company it can be quite rewarding as well. Who wouldn’t want to be their own boss? Many of the advantages and disadvantages of being an entrepreneur tend to be one and the same.
Advantage: You are the boss so you can decided when you work and when you don’t work. You can vacation whenever you want and have a “sick day” whenever you want.
Disadvantage: In order to run a successful business many entrepreneurs tend to work even more hours than the average full time employee to get their company off the ground. Most startups tend to not have many employees and entrepreneurs need to get their company earning a profit as soon as possible.
Advantage: You always get to make the call on how things are run and how you want to proceed with the company. Every decision can be ran through you if you want them to be.
Disadvantage: The stress levels of having to make all the decisions can be overwhelming, especially for someone just starting a company. Every decision you make can affect the outlook of your company’s future. This stress may be unbearable at times and may become a strain on your work life as well as your personal life.
Advantage: You can make as much money as you want as long as your business is prospering. You will no longer feel underpaid for the work you do for somebody else’s company. If your company is very successful then this may easily be the top advantage to being an entrepreneur.
Disadvantage: Especially when first starting up, you may not make any money. The lack of pay early on may be too long for many entrepreneurs to last until their company starts to turn a profit. Even after your company starts to earn more money there may still be the stress that next week’s paycheck isn’t always guaranteed if it all depends on the success of your business that week.