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Why Entrepreneurship? What are all the benefits of Entrepreneurship?

Last Updated : May 18th, 2018

What is Entrepreneurship?

Here is the definition from Wiki.. Entrepreneurship is the process of starting a business, typically a startup company offering an innovative product, process or service. The entrepreneur perceives an opportunity and often exhibits biases in taking the decision to exploit the opportunity.

On my mark.. Entrepreneurship is a process of building an effective product/service with a team by transferring the vision to the team members from an Idea turning it into a profitable venture.

Entrepreneurship is much more than making money

 Focusing primarily on the end (output mentality) thinking only about the profit that is to be made forgetting that the end will only come as a result of diligence and commitment in the beginning backed with an unwavering discipline and persistence in following a process (input mentality). The simple truth is;

“Money is the reward (product) But NOT the goal (purpose) of entrepreneurship”

 Getting into Business simply because you want to make money (profit) is far too much a price to pay as an Entrepreneur. I mean isn’t that what employees do; working nine-to-five in order to make ends meet? Why in the world would you choose to become an entrepreneur (be your own BOSS??) just because you want to make a living when there is already a far more easy alternative for that –employment. If you are so much in need of money in order to make a living (survive), better go back to a 9hrs job and stop posing as an Entrepreneur.

Entrepreneurship is Beyond Survival

Survival (making a living) is not the goal of entrepreneurship but rather significance (making a difference). Entrepreneurship is not the ideal choice for those who are feared of Facing failures & who always listens to the Naysayers and not trust themselves.

Entrepreneurship is for those who really believe in themselves & who is ready to design their own rules and builds a team who fits into that. Entrepreneurship is about using your life to do what you really love and truly care about –Passion. A true entrepreneur at their very core is a betrayer; someone who is bent on creating change even though it means going against the norm. Does this sound like you?

Benefits of being an Entrepreneur 

Before Indicating the Benefits I would like to say a mantra

“NO PAIN NO GAIN” Not Everyone can easily achieve the benefits without facing the troubles. Benefits are just the final step of the problem. It’s Up-to you minimizing the steps in solving the problem (like how in Algebra).

1.  Financial Independence.

You are completely in charge of your earning potential. “Financial independence means different things to different people. To some, it means having the cash to buy what they want. To others, it means saving for retirement or a home. And for some folks, it simply means opening the bills without dread. Whatever your definition, it means you command your money and not the other way around. That’s a victory worth celebrating.”

2. Set your own schedule.

For the most part, as an entrepreneur you have greater command of your schedule. However, you will likely have many more demands on it as well. “Contrary to popular belief, you don’t come into the world with nothing but your naked self. You’re actually already in possession of one of your most important gifts: time.” What will you do with yours?

3. Bringing Ideas to life.

Entrepreneurs bring ideas to life. “If you know that you will not find peace in your life until your vision becomes a reality, you are willing to invest valuable resources, and acquire new knowledge” it could be time to start your own business.

4. Legacy.

What will be your life’s legacy? According to SUCCESS magazine your legacy is, “something you create during your life solely to benefit future generations…” Here it not only means money for the future, But also the opportunities which we left for the future by creating new Business.

5. Impact the lives of many.

Yes it is not only for you, But also for the Benefit of many people who is seeking for the survival with plenty of Talents & potential. We actually lead & guide a community for their Financial Benefits.

 6. Business as an investment.

Consider your small business as an investment. Entrepreneurs not only reap the financial rewards of building a profitable company but they also gain tremendous insights into the most important investment of all — one’s self. An investment by nature, is putting something on the line. Entrepreneurs take a risk on themselves because they know “they’re worth it!”

7. Design your own Lifestyle.

Are you a morning person/ Night Owl? Do you prefer to work from remote locations around the world? Do you like to take trips often? One of the perks of entrepreneurship is the creative ability to design the lifestyle that best suits your desires. Whatever it is Decision is yours. Plan & Execute for you & you only.

Related posts: 6 Genuine Reasons Why People Become Entrepreneurs

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Ranjith Baskaran
Progressive and open minded Business professional with over 6 years of experience in Digital Media & Outsourcing Industries. Dedicated and self-motivated with the ability to thrive in a collaborative work environment. Interested in Blogging & Digital Marketing and Passionated with Startup Eco-system.

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