People spend most of their lives working for someone else. Some people eventually rise to positions wealth and power, while the rest languish in unchallenging and low-paying jobs. On the other hands, there are a select few who strike it out on their own, rather than work for others. they put up their own enterprise.
You may ask: "Why should I risk my resources in an unpredictable business when I could hold a stable job with permanent tenure and an assurance of a regular monthly income, without risk?" In other words, why be an entrepreneur rather than an employee?
Having your own business has tremendous rewards, but be sure to weigh prospective returns against potential risks and losses.
Rewards of going into business or Entrepreneurship
Having unlimited opportunity to make money
When you have your own business, you will most certainly have unlimited potential to earn money. How much money you earn depends on the time and effort you put into your enterprise. Successful entrepreneurs have earned their wealth and prestige through hard work and by having the right market at the right time.
Being your own boss
As manager of your business, you make the decisions for your enterprise and take full responsiblity for these. The quality of these decisions will translate into either gain or loss for your business. Being your own boss means you are in control of your future. You have a better grasp of what you want to be.
Tapping your creativity
A business usually starts as an idea. You will have the opportunity to harness this creativity and turn your idea into products and processes.
Overcome challenges and finding fulfillment
Starting a business is by itself an accomplishment. Running a business tests an entrepreneurs' capability in securing and managing resources. How well a business turns out depends on the owner's ability to face challenges and overcome difficulties.
Helping others
In the process of running a business, an entreprenuer employs workers, and pays them income which improves their lives. An entrepreneur who succeeds and grows also help suppliers, sub-contractors, dealers and other business connected to him succeed and grow too.
Building an entrepreneurial legacy
A business can be a lasting legacy to the family. It can ensure employment for some members of the family. It can create an enterprising culture than can be handed down through generations.
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