There are a lot of reasons why I love being an entrepreneur and I’ve listed my top 15 below.
If you’re thinking about becoming an entrepreneur, I hope reading this inspires you to take the plunge. If you’re already an entrepreneur, I hope it reminds you that you have a lot to be thankful for.
1. It’s Low-Risk
“If you start with nothing and end with nothing, then nothing was lost.” Michael Dunlop.
Two decades ago, if you wanted to sell a product, you needed a store. If you wanted to offer a service, then you needed office space. If you wanted a platform to promote yourself with, you would have to pay for advertising space.
Starting a business was expensive and therefore risky.
But the Internet has changed things. Instead of paying tens of thousands of dollars a year for real estate, you can pay less than $100 a year for a domain name and hosting. Instead of paying thousands more on marketing, you can start a social media platform for free.
All of this doesn’t guarantee you’ll succeed, but it does mean that you can’t lose much by trying.
2. You Can Find Your True Calling
Most people know what they want to do for the rest of their lives by the time they’re five years old. By the time they’re 25 years old, they usually aren’t so sure.
If you’re looking for some clarity on the subject, then you may want to become an entrepreneur. Since it’s such a diverse and self-guided career path, entrepreneurship is a good way to find your true calling.
3. You Can Beat the Rush
Driving to work with everybody else during rush hour is a waste of time, gasoline, and your patience.
As an online entrepreneur, your morning commute can be the walk from bedroom to your office. If you choose not to work from home, you can still avoid the rush by going to work an hour earlier or later.
4. The Internet is Still Growing
In the next decade, that number of people with Internet access will climb steadily as more and more people gain access. Meanwhile, those two billion of us who already connect to the Internet will likely be doing it more often, from more devices, for longer periods of time.
In other words, the Internet is a healthily growing industry. If you start an online business today, it will enjoy the benefits of that growth.
5. We’re in a Time of Economic Transition
The last two decades have seen the sharp rise of digital technology and globalized trade. This has shaken up the world economy and left many industries depleted.
It has also created brand new business opportunities for entrepreneurs to capitalize on.
While bigger, older companies struggle to adapt to these changes, a startup can be built from the ground-up to solve today’s problems. A great example of this is Green-back Laptops, which turns a profit in a brand-new industry (recycling computers).
6. You Can Do What You Love
This may be the single best reason to be an entrepreneur.
Instead of fitting into a box designated by an employer, entrepreneurs can effectively create their own dream-job.
7. You Can Earn Passive Income
Passive income is money that you earn on a regular basis without having to put in much effort to maintain it. One example of passive income would be the monthly rent check a landlord receives.
Just about everyone loves the idea of passive income because it means that you can make money while you sleep – and use the daylight to do whatever you like.
Because a good website can earn money without much maintenance, online entrepreneurs have the fast track to earning passive income. Some of the ways to do it are by hosting advertisements on your sites, selling products, and developing membership programs.
8. You Don’t Have a Boss
A great boss is a leader, mentor, and a friend.
A bad boss is hell on earth.
If you don’t want having to risk getting a bad boss then you may like becoming an entrepreneur. You’ll still have responsibilities to other people, but you won’t have to be anyone’s personal underling five days a week.
9. You Can’t Get Fired
One of the worst things about being an employee is that you never know when you could get the axe. Companies are always looking for ways to cut costs and annual salaries are one of their biggest expenses. Any day, you could go to work with a career and come home unemployed.
As an entrepreneur, you can lose clients, visitors, or followers, but you can never lose your job. Your future is in your hands.
10. You Can Travel the World
When your office is online, you can work from virtually anywhere. As long as you’ve got a power outlet and a connection to the Internet, you’re set.
Some entrepreneurs (like Cody McKibben) take advantage of this and travel the globe year-round. These entrepreneurs are known as ‘digital nomads’. Others just use their location-independence to take the occasional long vacation.
There’s a big, beautiful world out there. Starting an online business gives you a better chance to experience it.
11. You Can Work Four Hours a Week
This is one of the great entrepreneurial dreams: build a business to the point that it runs without you.
Of course, you can’t start brand-new business, work on it for a few hours per week, and expect to be able to live off of the income. The road to the four-hour workweek is often paved with 50 and 60 hour weeks.
12. There’s Unlimited Growth Potential
With a traditional job, you move forward by receiving raises and promotions. These are good ways to get ahead, but they’re all incremental forms of growth. You’re not going to be the secretary one week and the CEO the next.
Entrepreneurs, on the other hand, can experience big breakthroughs and sudden leaps in success. You could make $100 one week and $10,000 the next.
The knowledge that your business could explode overnight is part of what makes being an online entrepreneur so exciting.
13. You Can Influence the World
As an employee, it’s easy to feel like a cog in a machine. You’re producing results for the company, but you’re not making your individual mark.
Entrepreneurs build businesses that reflect their goals and values. Their businesses entertain, inform, and help people, and in doing that they shape the world.
14. You Can Leave a Legacy
I don’t know the meaning of life, but I do know that we all want for our life to have mattered.
You don’t have to start a business to do that. Raising a family, becoming a teacher, or simply being a good friend are all fine ways of leaving a legacy.
15. Build a lifestyle you love
An entrepreneur builds a business and lifestyle on their terms and one they love. This passion is what drives the most successful online entrepreneurs day in and day out and if you ask them what their job is, they will tell you that they don’t have one as, running a business you love never feels like work.
But if you really want to “put a dent in the universe,” then you may want to become an entrepreneur.
That’s what gave Steve Jobs the platform to change the way we think about technology. It’s also what gave Bill Gates the opportunity to dedicate his life to giving back (through The Bill and Melinda Gates Foundation).
Simply put, a business is a powerful thing. When you create one, you create the possibility to provide huge value for people all around the planet. Build your business to last and it will keep making a difference even after you’re gone.
What’s your reason?
Did any of these 15 reasons jump out at you and make you think, “That’s why I decided to become an entrepreneur?”
If you’re not yet an entrepreneur, I’ll give you one more reason become one: you can start right now.