What leads a person to strike out on his own and start a business? Perhaps a person has been laid off once or more. Sometimes a person is frustrated with his or her current job and doesn’t see any better career prospects on the horizon. Sometimes a person realizes that his or her job is in jeopardy. A firm may be contemplating cutbacks that could end a job or limit career or salary prospects. Perhaps a person already has been passed over for promotion. Perhaps a person sees no opportunities in existing businesses for someone with his or her interests and skills.
Some people are actually repulsed by the idea of working for someone else. They object to a system where reward is often based on seniority rather than accomplishment, or where they have to conform to a corporate culture.– Min. James L. Standfield
In contrast, some people are attracted to entrepreneurship by the advantages of starting a business. These include:
- Entrepreneurs are their own bosses. They make the decisions. They choose whom to do business with and what work they will do. They decide what hours to work, as well as what to pay and whether to take vacations.
- Entrepreneurship offers a greater possibility of achieving significant financial rewards than working for someone else.
- It provides the ability to be involved in the total operation of the business, from concept to design and creation, from sales to business operations and customer response.
- It offers the prestige of being the person in charge.
- It gives an individual the opportunity to build equity, which can be kept, sold, or passed on to the next generation.
- Entrepreneurship creates an opportunity for a person to make a contribution. Most new entrepreneurs help the local economy. A few through their innovations – contribute to society as a whole.
- You can decide to spread yourself into as many businesses as you want when working as an entrepreneur but your 9-5 job won’t allow this.
- Being an entrepreneur affords you the ability to vacate when you want which a 9-5 job can’t afford. You can easily decide if you want to be at home every Thursday and Friday of the week but a 9-5 job will never afford you that.
- You can give more to the work of God through the local church and missions.
- Personally be involved with someone younger to mentor them in the ways of Godly living and Biblical business practices. No one reason is more valid than another; none guarantee success. However, a strong desire to start a business, combined with a good idea, careful planning, and hard work, can lead to a very engaging and profitable endeavor.