Pros
1.Always being in Control
You essentially get to choose the work you do and work towards your own strengths. It is very satisfying as what you do is up to you and you are not working for others, giving you much more freedom than otherwise.
2. every day is exciting
Forget the mundane, you get to experience something new every day. There is no routine, and new challenges to tackle. There will always be a different task for you to do and your life will start to feel less repetitive.
3. Increased income rationality
The amount of income that you get is correlated to the amount of work and effort you contribute to the company. As you are in charge, you get to see where your income is coming from and how it makes sense.
4. Things occur quickly
You have the ability and freedom to move at your own pace, and do tasks as you wish when you want to. If you prefer a fast-moving environment, you are able to cater to that.
Cons
1.You are the decision-maker
Now, this can be a good thing, however, it also means that you are the one that's making every single decision. This can be a lot of pressure, as it all comes down to you. There is also the burden of paperwork that comes along with this.
2. Highly Competitive Environment
You will never really know when the next competitor might show up and potentially even take some of your market shares. Even starting up, in the beginning, can be very difficult.
3. Unpredictable schedule
You can set your own hours and schedule yourself. However, to make more, they have to work longer and harder hours. You have to step up in every situation, no matter what happens.
4. Self-motivation is required
There are no days off when you are an entrepreneur. Constantly bringing in your A-game can be difficult and you can not make any excuses either.
Conclusion
Entrepreneurship is very high risk and high reward, but you have to put in the effort and possess the correct skills and traits to be successful.
Check out the other entrepreneurship-based blogs on ISUCorp.ca for more helpful tips.
