Job Security vs. Entrepreneurship, Why take the risk?
Paul is in his final year of college, and of late he has been thinking a lot about what
he wants to do for the rest of his life, after graduation.
Growing up, Paul had always been told by his parents to study hard, get good grades, so
you can accepted into a good university and graduate with a good degree.
Because having a good degree will land you in a good paying job and in return, a good
life.
You see, this is the mentality that a lot of us were told.
For some people, this belief is hard to throw away because it’s what we have been told
since child hood.
One afternoon while Paul was sitting outside on a bench in the park, he started seriously
thinking about what he wanted to do with his life.
He had always found the economic freedom and allure that entrepreneurship presents enticing
but on the other he also understood the challenges that such a path presents.
Being an entrepreneur is risky as about 50% of all startups fail in the first 5 years,
Paul recent read in an article online.
On the other hand, being employed promises a level of security, little risk, and although
not much, a steady a paycheck every month.
As Paul was contemplating his future, one of his professors who was in the park, decided
to sit next to him.
The professor said hello to him, Paul (still thinking about his future) said hello back.
After a little moment of silence the professor initiated a conversation and they started
chatting for a bit.
As they were talking, Paul decide to ask the professor for his opinion, on whether he should
give entrepreneurship a shot or just get a normal 9-5 job like most people.
What the professor told Paul is the basis of today’s video.
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Now let’s begin.
As Paul and the professor were sitting on the bench talking, the professor said to Paul.
Entrepreneurship can be an appealing career option for independent individuals hungry
for success, it’s a path which allows you to do your own thing and pursue those things
you feel most passionate about.
You see, the entrepreneurial lifestyle allow you to gain a deep sense of satisfaction and
fulfillment from pursuing your chosen path in life in a way that is difficult to replicate
as an employee.
But running a business is not for everyone.
Before you commit to the path of entrepreneurship, you should consider and weight the options
between being a business owner and being an employee as the two paths could not be more
different.
You see, a life of an entrepreneur is characterized by risk, stress, longer work hours and often
time’s loneliness.
You’ve got to not only come up with an idea, you’ve got to market and execute your vision.
Even if you execute your vision, there’s no guarantee you’ll be profitable.
Think about all those small business owner who borrow startup capital only to close down
and lose all their investor’s money a couple years later.
On other hand, being an employee you are free from the burden of making tough decisions
that steer the progress of the company.
This may not sound like much, but for most people, they would rather be told what to
do and how to do it, than crack their head over charting a course that every other person
in the company will follow.
It may suck sometimes said the professor, but at least you are assured a paycheck, food
on the table and enough for small luxuries every now and then.
You see, the above benefits give excellent reasons why any person seeking to start a
career would go for a paying job, but why then are many people growing dissatisfied
with their jobs on a daily basis?
According to The Conference Board, about 53% of Americans are currently unhappy at their
jobs, and this is quite alarming.
But why is this so?
Asked Paul You see, said the professor, most of us have
this drive to play by our own rules, to live by our own terms and to only do what we love.
This drive is seen first in the stubbornness that kids display, and later on, in the strong-willed
attitude that young adults display.
For many people, this is later converted into doggedness in fighting for the good life that
they want.
And yet, this drive still exist in one way or the other.
I have come to discover that the best way to satisfy the inner desire we have to live
on our terms and be our own bosses is to be just that; be your own boss.
You see, it may not be rosy at first, but even during those dark and terrible early
days, you will retain a sense of fulfillment knowing you are chasing the thing you want
and love.
Let me tell you a short story about a guy I know.
Henry was a guy, who from his early days, he wanted to be a man of his own.
He would tell his friends at high school that if the only way to make money was to get a
job, then he would prefer going back to take over his father’s horse ranch and manage
it.
But guess what happened to this young man later.
After college, Henry went to work for a firm as a business manager, so he started as a
staff in the development section.
He worked hard and in five years, he was promoted rapidly until he got to the position of deputy
business manager, and that is where he was stuck for years until he became tired of the
routine.
Henry, knowing he had enough knowledge to run his own business, finally took the plunge
and started his own business.
At first, it wasn’t easy, and he had so many challenges that he wanted to quit, but
somehow, he kept on.
Today, he has become successful in his own right.
There are still challenges, of course, but he prefers facing them head-on to being stuck
in one position for a long time.
Henry’s story represents the reality of most of our lives.
You see, some of us become tired of the normal life, the routine of being in one position,
and being unable to make further decisions concerning our careers.
Although in Henrys case, instead of staying in a position he felt stagnant in and hated,
he decided to do something about it.
He took a step of faith not too many are willing to take.
But it paid off for him, said the professor.
You see, Entrepreneurship is the way out for you if you are not cut out for the normal
9-5 work life.
Said the processor to Paul, And No, I am not saying the process will be easy, but eventually,
it will pay off if you keep at it.
Personally, I know friends who have experienced tremendous satisfaction in surmounting challenges
in business.
They have experienced so much freedom in being able to make decisions concerning their growth,
development and business.
You see, entrepreneurship is not as scary as it sounds, neither is it for everyone.
But again, most people can succeed as entrepreneurs if they learn the ropes, and are diligent
enough to follow through with their passions.
Entrepreneurship is surely not a bed of roses, but at least you have the decision on how
to make the things work.
There is also the satisfaction of knowing that you only answer to yourself.
Come with me said the professor; I want you to meet one of my friends.
That afternoon the professor took Paul to a successful restaurant owned by his friend
Tony.
Tony welcomed them both to his restaurant and invited them to sit down.
This is one of my students, Paul, said the professor.
He’s not sure of what career path he wants to pursue after college, and I thought it
would be good if you could share some of your wisdom, you have gained as an entrepreneur.
So young man, you want to be an entrepreneur, said Tony.
That’s right said Paul.
First, you have to understand, the life of an entrepreneur is not that which you see
on TV or social media, said Tony.
It’s not a flashy life filed with endless exclusive parties, invites to celebrity events,
beautiful woman chasing after you, and buying whatever your heart desires.
Although, it can be, this isn’t always the case.
It’s not a life that the media has pictured it to be.
You see, granted, yes it can be a life filled with euphoria, crazy adventures and a very
nice fat bank account.
But this isn’t always the case, most entrepreneurs fail.
You see, I know many friends who tried starting their own companies, hoping to hit the jack
and become very rich, only to end up losing a lot of money, some their longtime relationships
and marriages, and some even their houses.
I’m not trying to say don’t be an entrepreneur, said Tony, what I’m trying to say is…
You need to understand what you are getting yourself into.
Don’t scare the young man said the professor...
Tony smiled.
You see, being an entrepreneur has its perks said Tony.
One, you determine your schedule.
As an entrepreneur you have the liberty to set your schedule to be as flexible as you
want.
You are not entirely pressured by anyone (except your customers), and you can run your business
based on whatever timeline you set.
There are no forced deadlines, no compulsory work hours, and rigid schedules that you cannot
escape.
And although entrepreneurship requires long hours, you can build your business to the
point where you have more time and freedom to focus on your hobbies and other activities.
Two, you become a respected business leader.
Have you noticed that many employers are the ones who end up receiving rewards and recognition
for building a business even though they had employees who bore the brunt of the work?
I know this may not be a popular goal for you Paul, however it’s still nice to get
recognition as a business leader in your community for the impact that your business has had
on improving the local economy.
Three, entrepreneurship is something that will expose you to new challenges and exciting
opportunities to test your knowledge and skills.
When you open your own business, it won’t be smooth sailing all the time.
Challenges will come up, and it will be up to you to pilot your business well.
This is an exciting but equally frightening time, it will however sharpen and develop
your skills tremendously.
Four, you get to build a career that aligns with your passion.
You see, as an entrepreneur, you get to build a career in a field that aligns with your
passion and not just doing any available job in order to survive.
Entrepreneurship is one of the best ways to live your dream life, doing what you are most
passionate about.
Just look at me, I’m living my dream, cooking food I love and putting smiles on people’s
faces.
Five, autonomy.
You see, as an entrepreneur, there is almost no limit to your authority and power concerning
your business.
You are the center of all decisions and can exercise intelligible control based on expertise,
experience, and market familiarity.
Multiple studies have linked this to job satisfaction, as many people tend to feel more satisfied
if they had more control over their jobs.
By now, you may already be seriously considering starting your own business, said Tony.
It’s not a bad thing in itself, but you have to make sure you are ready mentally.
You see, the journey of becoming an entrepreneur although rewarding, is not always easy.
You will have to throw in your best and more to succeed.
When I first started this restaurant, it looked daunting.
I would see other restaurants filling up with customers and I would wonder when mine would
reach that level.
I had a clear blueprint I was going to follow, but daily, as I came to work and cooked my
best meals, I only got a few customers.
I felt discouraged.
But that was where the entrepreneurial spirit proved to be very useful.
I kept at it, constantly coming to work, cooking my best dishes and giving it my all, knowing
that sooner or later the recognition and customers would come.
Well, it’s been an upward call since then, and quite the adventure…
Tony laughed.
A 9-5 job may suit a lot of people, but it is definitely not the answer to the inner
desire for freedom and flexibility that many others have in them.
While a steady day job may be less stressful, more stable, and all that, in the end, being
an entrepreneur will open you to so many opportunities for personal and career growth than you ever
thought was possible, said Tony.
Thanks for watching!
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With that said, I will see you in the next one.