The Pros & Cons of Entrepreneurship
Updated: Apr 4, 2019
Oh Entrepreneurship... It's big word that can lead to big things.
I remember starting Webblen and thinking to myself: "Start a company?, Psh! No Sweat! This will be a cake walk 🏃🏾
That was 3 years ago.
Here I am now, continuing to progress with Webblen and my other startup, Next Gen, and through entrepreneurship, I've learned a lot about myself as well as the good and the bad of the career path. Let's start with the good.
Pro #1: Control ✊
You have complete autonomy over your decisions. Because you don't have to answer to anyone, you feel as if your fate is in your hands. However, it's important to be mindful that if you don't have the discipline, this can lead to reckless or counter-productive decisions. As long as you know what is good for yourself, your business, and your customers, you will appreciate the amount of control you have in your life.
Pro #2: Excitement 🥳
Entrepreneurship can lead to a pretty exciting lifestyle. As long as you've chosen to focus on a niche or market that fits your talents and personality, you will have challenges that you enjoy, work that you love, and opportunities that will amaze you.
Pro #3: Personal Growth 🧘♂️
To create something great, you must become great. Over time, as you continue to grow your brand, project, business, or vision, you will see ways that you can improve not only in your work, but as a person as well. You will have failures that you will learn from.
Maybe you have habits that prevent you from performing well?
Maybe you need to improve on your communication?
Maybe you want to find ways to improve your leadership?
But one thing is for sure.
You will put forth an effort to be better and get better. A better team leads to a better business.
Not all at once, but over time for sure; you will grow.
Pro #4: Rational Salary 💰
Your work and efforts will decide your salary. There's no ceiling. Though turning a profit is not easy at first, over time, as you learn what works and what doesn't... it does get easier.
NOW for a few of the Cons
Con #1: It's all Up to You 😬
This goes back to having control. Control is actually more of a double-edged sword here. Want to know why? Your decisions = Your Responsibilities = Your Consequences to Deal With As you grow your business, there will be bigger decisions that come that are on your shoulders to bear. It's good that you have team to help with these decisions and tasks that need to be accomplished. But when push comes to shove, whatever happens... it's on you.
Con #2: Time 🕐
Time is officially your most valuable asset.
You do not have enough time to explore every opportunity.
You do not have enough time to let the competition catch up with you.
You do not have enough time to do everything that needs to be done at once.
You're only human.
You need to eat, sleep, exercise, and pay attention to your relationships and well-being.
If you don't do those, then what are you working for?
Still feel you have enough time?
Con #3: Lonely 😔
The path less traveled will forever be just that. Feeling as though the success or failure of anything can really strike ya. Add the amount of risk you've taken by giving up some more secure options for what you'd like to do with your life. The rewards are worth it, do not get me wrong. But unfortunately... it goes back to con #1, it's all you up to you...
Entrepreneurship is not cut out for everyone. But if you feel you have what it takes, the patience, the skills, and the tenacity have been thinking about it. Do yourself a favor and go for it. Be sure to ask for help from those around you on this path as well. It makes dealing with the cons a lot easier 😉
Your Support is Always Appreciated
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Mukai is the Founder of Webblen, a mobile app that rewards users for being involved in their community. He dreams to improve the the quality of social life using his talents in development, design, and consumer psychology to create a social economy.