Follow Us

Explain the benefit and drawbacks of entrepreneurship



Nowadays, there was many people are choosing to work under other company to earn for salary. But however, they are still some people who are not satisfied with this, they want to have their own company, and become boss. This is because becoming an entrepreneur is totally different with become an employee in many aspects.

 

Advantages

Let us talk about the benefit to become an entrepreneur. Firstly, become an entrepreneur will give you a lot of freedom (Holmes, 2016). You may be able to set up your own schedule for a working time which also means a flexible schedule. This will allow you to do your work more relaxing and not too rush on time and given more focus on the work. This is because you may choose to do the work after you have finished something more important or care about. An entrepreneur is also having the freedom on making decisions. This is the power that gives to the people who sit in the higher position only. This also means that become entrepreneur can do what you actually hope to, but not what other people want you to do.

 

Besides that, become an entrepreneur will also grant greater satisfaction. In Maslow’s need hierarchy, it can be found that self-actualization is at the first place of the pyramid which means it was the most need of the human. When you become an entrepreneur, you create the business and develop, grow together with the company, you will feel that you actually do something meaningful in life. When the business successful and it will become a type of mark and achievement that may fulfill your self-actualization and increase your satisfaction.

Indirectly, when you have completed something hard or great achievement, you will also feel it has grown up. The most significant change that you can see easily was temperament and self-esteem. For example, when you have owned a big company, you shall be able to act more generous in word and deeds, easily invite people or friends for a meal at a high-class restaurant, driving a luxury car, stay at a superior hotel. All of this is almost impossible for just a common employee. To conclude, become a successful entrepreneur may bring people a better life and a better self

 

Yes, become an entrepreneur will learn a lot of new thing. When you become an entrepreneur especially when the business is first starting, the employee was not adequate yet. In this situation, the entrepreneur is responsible most of the part of the work. For example, financial management, stock management, human resources, customer services, and so on. This makes the entrepreneur learn almost every field in the business and acquire a lot of the skill to increase their own value. Other than that, the experience and understanding of the certain skill and work may be very helpful to the entrepreneur to make decision-based on own need and situation.

 

Other pros to become an entrepreneur is about the salary. This is one of the main reasons why many of the people choose to become an entrepreneur but not an employee. The salary gain by the entrepreneur is always higher than the employee. As an entrepreneur which is the boss in the company, there is no one who can delay your payroll, and you don’t need to wait for someone to give you the raise. The gain of the entrepreneur is also less restricted, commonly is according to the decision and effort.

 


Disadvantages

However, everything is with two faces, become an entrepreneur is good but also entrepreneurs need to take highly responsible for every decision which makes by itself. As mention in the previous paragraph, the entrepreneur is sitting at the position of the top of the pyramid in a company that was the most powerful person. Almost everything makes by an entrepreneur will affect the company especially the reputation. This will cause the entrepreneur to become always careful and tight the mind to face everything. For example, if the entrepreneur is a lecherous person and once time been exposed by the reporter, this will also cause the client to lose the trust of the company also and indirectly sales down, cause loss, employee turnover, and so on

 

Not only that but also, become an entrepreneur is also always at work which is mean heavy workload (Holmes, 2016). This situation is very significant on the small enterprise or even a small medium enterprise. The reason is commonly the small or small medium enterprise want to gather few works at one employee to reduce and save the cost or output.  Commonly the important part of the work is fell on the boss. For example, entrepreneur is the CEO, graphic designer, accountant, secretary and so on. That’s why entrepreneur is always needed to work more than normal employee.

 

People always think that an entrepreneur is richer than the employee. Yes, it was true, however, the gain of the entrepreneur is not stable. That is a myth about entrepreneurs also, entrepreneurs will get what it has done. However, it was not true, sometimes the entrepreneur works very hard but possibly it gets nothing too. Entrepreneur gain is totally tied to the company's business development and market situation. If the company doesn’t make money, the entrepreneur will also suffer together, but the employee is still receiving a stable salary. As an entrepreneur, a non-stable paycheck is really scary and terrified.

 

As what be mention, the entrepreneur is taking all the responsibility, this is also the same meaning that the entrepreneur is taking more risk. An entrepreneur is also known by people as a risk-taker, a gambler, and so on. Become an entrepreneur, create a business that is from nothing to something. Commonly, there is no shortcut, there is also no road map, entrepreneurs have to find the path to destiny by its own effort. That is really not an easy thing to do, because there will be a lot of the obstacles in front such as the competitor and supplier dispute.

 

Least but not last, become entrepreneur need to endure a heavy stress. Entrepreneur was highly responsible for every decision and always with a heavy workload. This mean that Entrepreneur are less with the own time and the work life balance will become hard or even more become impossible for themselves. Own time become lesser, it also means that less entertainment and happiness. That is why the concept “work for life” or “life for work” is appearing nowadays. In fact, rarely but not without, some of the people even because of the stress the people choose to suicide and end their life or suffering from mental illness also. As a suggestion, if really want to become an entrepreneur, trust yourself and love your job.




More Info:

从零开始的马来西亚 虚拟Virtual Youtuber ——Kimily紀鴍樂
👉https://spotthewrld.blogspot.com/2020/12/virtual-youtuber.html👈

Explain Aravind key success factors as Social enterprise.
https://spotthewrld.blogspot.com/2021/04/explain-aravind-key-success-factors-as.html

five (5) Logistics strategy is directly influenced by strategic decisions in functional areas
https://spotthewrld.blogspot.com/2021/04/logistic-question-answer-discuss-five-5.html

five (5) general types of information systems
https://spotthewrld.blogspot.com/2021/04/clarify-five-5-general-types-of.html
Concept of entrepreneurship and what is the social entrepreneurship
https://spotthewrld.blogspot.com/2021/04/concept-of-entrepreneurship-and-what-is.html

0 comments: