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What Are the Benefits of Being an Entrepreneur?

Many entrepreneurs cite flexibility and freedom as among the benefits of entrepreneurship.
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  • Written By: Alex Tree
  • Edited By: Melissa Wiley
  • Last Modified Date: 27 September 2014
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The benefits of being an entrepreneur are being one’s own boss and having the freedom and flexibility to directly handle problems and be creative. While the realities of being an entrepreneur are often glorified, there is some truth to the stereotype. Reporting to no one but clients, having the freedom to adopt pet projects, and being able to drop the task at hand for something more important are benefits people around the world strive for. These benefits are usually acquired by becoming an entrepreneur or at least thinking outside the box like one.

Being one’s own boss is a major benefit of being an entrepreneur. In fact, many say they cannot imagine working the standard nine-to-five job. Becoming self-employed means having a lot of freedom and flexibility, but it is also a practice in self-discipline. It is common to hear business owners state that they put in a full-time job’s worth of hours for months or even years before their businesses began to thrive, usually for little income. People who lack the drive to work hard often fail at starting or maintaining the business.

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To many people, the primary benefit of being an entrepreneur is freedom and creativity. Sometimes large corporation are stifling with inefficient policies and restrictions that hinder employees on a daily basis. Entrepreneurs are often free to do whatever might benefit their business, provided it does not break local laws. For example, an entrepreneur does not have to complain to a human resources department about a client who is too friendly; he or she can simply no longer work with that person. The freedom to immediately and directly act on a problem or try out a new pet project is what some entrepreneurs value most.

The flexibility of being self-employed is also prized, especially among those who used to work for inflexible employers. Entrepreneurship generally means a person can set his or her own schedule to a certain degree; for example, he or she can pause work for a last-minute dinner party or more everyday tasks like picking up the kids from school. If the work is performed primarily on a computer, he or she can take a laptop to work in exotic or calming locations. Even when bound by the demands of customers, affiliates, or other obligations, an entrepreneur often has more flexibility than most workers. After a certain point, a successful entrepreneur might need to hire his or her own employees, lest he or she lose the benefits of being an entrepreneur by an overwhelming amount of work.

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ZsaZsa56
Post 3

I think the most important quality of an entrepreneur is being patient. This might come as a surprise but it is true. Most entrepreneurs who fail do so because they except to get rich over night. They end up over leveraged and loose everything.

When I was becoming an entrepreneur I had to learn how to wait. I had to sit on good ideas until they became great ideas. I had to wait for the market to swing in a direction favorable to my company. I had to wait for the right employees to apply. Sometimes I was frantically trying to move forward but if you treat your business with a little patience it will serve you better in the long run.

whiteplane
Post 2

My mom was a woman entrepreneur and a very successful one at that. What is even more impressive is that she did it in a male dominated industry. She owned and operated a small general contracting company and they were successful for over 25 years.

There are not many women in the trades and there are even fewer of them who own their own businesses in the trades. But my mom is incredibly tough and she would not accept being treated differently on account of her being a woman. She ruffled some feathers but she usually came out on top. Her tenacity was one of her greatest skills as an entrepreneur.

jonrss
Post 1

I had a series of dead end jobs right up until I was 30 before I realized that I didn't ever want to work for somebody else. I got my act together and a year later I had started my own business. We started small but have seen a tremendous amount of success. I now have a dozen employees who work for me.

I love being an entrepreneur. You accept all the risk but you also get so many of the rewards as well. But my favorite thing is that no one can tell me what to do. My opinion matters above all others. I thrive in that kind of environment.

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