Why Entrepreneurship Is Becoming More Popular
Are you ever surprised by the number of new websites you find? It is not just e-commerce websites either. You can find websites for all sorts of independent online businesses from professional services and freelancers of all types. These entrepreneurs will often start working out of their garage or home office. Moreover, these self-motivated individuals are rewriting the conventional wisdom about how business is done. Ultimately, entrepreneurship is becoming a new business model and a popular career choice.
Have you ever heard the old saying, “If you work like few will, later you can live like few can”? Entrepreneurs are people willing to take risks, sacrifice, organize, and accept the challenge of creating a new business venture in an increasingly competitive global market. They are dreamers, fueled by a pioneering spirit and a strong desire to lead, innovate, and invent. It was not that long ago when most people only thought about following well-defined career paths. Today, technology has opened new and unexplored territories for those ambitious enough to accept the challenge.
The Growing Popularity of Entrepreneurship
According to Entrepreneur.com, last year’s statistics revealed that roughly 550,000 people become entrepreneurs every month. This is a trend that has increased in recent years. In 2016, 330 people out of every 100,000 started a new business. This is compared to only 280 out of every 100,000 in 2014. Moreover, the growth is within many demographics including women, some minorities, and entrepreneurs over 55 years of age. With the popularity of entrepreneurship increasing, it is worth looking at the motivators and if it is time for you to get on board.
While entrepreneurship may seem very scary to some, and a very high-risk undertaking, many others will find it an adventure and the right path for them. For others, jumping into a world of uncertainty may be the only way to change their circumstances, be successful, or get away from a job that they really hate. That said, there are many reasons that an individual would choose entrepreneurship over a traditional career path. Only you can decide if it is right for you, but below is a list of the genuine reasons why some people become entrepreneurs.
Why People Choose Entrepreneurship
1. They are too creative for the corporate world.
– Many people just cannot thrive in a corporate environment, in which conformity is often valued more than creativity. When you embrace the idea that you are not a good fit for corporate culture, you can free yourself of the limitations.
2. They don’t want to be locked into a 9 to 5 lifestyle.
– Successful entrepreneurs tend to work longer and harder than employees, at least in the beginning. Regardless, entrepreneurship also provides far more flexibility, giving you the ability to work around important life events.
3. They have ideas that are considered unconventional.
– Most often, entrepreneurs are outside-of-the-box thinkers. They can be so imaginative that their bosses and coworkers can consider their ideas as bizarre or controversial. But, it is entrepreneurs who change the world.
4. They want to make a difference and change the world.
– One of the best reasons to become an entrepreneur is that you have an idea for a product or service that will somehow change the world. This is a motivation that drives many entrepreneurs.
5. They admire and respect other entrepreneurs.
– When a person is successful, they inspire others into thinking they can become successful as well. If you see someone grow a business from nothing to something, it is enough to encourage many aspiring entrepreneurs to start their own business.
6. They don’t want to have a boss.
– There are also those individuals who have an issue with authority. They just don’t like that someone is looking over their shoulder or managing their work. They would much rather the personal accountability intrinsic to entrepreneurship.
7. They are risk takers.
– There is a lot of risk involved when you start a business, and entrepreneurs love to embrace risk. The chance of success is a source of excitement and adventure, which provides an adrenaline rush. It is less about money and more about the exhilaration.
8. They just don’t have any other choice.
– There is also a group who will become entrepreneurs because they see it as a mandatory choice. Often, they have gone as far as they can with their current career path, and owning their own business means having no limitations.
Look Before You Leap
With all the buzz about new businesses and start-ups, it is easy and natural to begin thinking about becoming an entrepreneur. Every person has their own special interests and talent. Nevertheless, successful entrepreneurship relies on more than just a desire to start something new. It is a good idea to start by looking at gaps in the existing market. In the beginning, entrepreneurship often means sacrificing time, sleep, friends, a social life, and personal wants. Your success will not come cheap. It will require sacrifice, hard work, and perseverance.
All that said, a true entrepreneur will never let fear be an obstacle. They are people who spend more time taking action than following processes or needing all the answers. They value their own intuition, and they will use a blend of knowledge and inspiration when others only see data and numbers. Entrepreneurship offers an opportunity to take control of your life, make a difference in the world, and pursue your own interests. Owning your own business supplies the entrepreneurs with independence and the ability to reach their full potential.
What haven’t we covered yet that is important to you? If you would like to talk about why entrepreneurship is becoming more popular, or a related topic, please contact me.