People regularly talk about the idea of starting their own business to escape the doldrums of working for someone else. However, few attempt the idea and realize the actual differences between being an employee and being an entrepreneur.
Freedom vs. Contracted Servitude
The employee follows an age-old principle of a service to someone else in exchange for pay and benefits. As a result, the majority of people working trade at least half their life every day laboring for someone else. Our society is built on the pattern that a large group of people will provide labor for a few who then direct, charge and create those things that people want or need to life. This creates income which people then trade for food, shelter, transportation and wants. Aside from the concept of retirement, the average adult can expect to spend the majority of his grown life working for someone else as an employee to earning what he wants and needs for himself and family.
On the other hand, the entrepreneur works for himself, producing a product or service that others want to buy with their income, providing the entrepreneur revenue by which he can grow his business and live off as well. Unlike the worker, the entrepreneur has a freedom to control his own day, work, product and effort as long as his business remains successful. If it fails, he then either has to start a new business or convert to being a worker to have income to live off of. That said, where an entrepreneur is successful, most don't want to go back to being worker if they can help it at all, even if running a business means twice as much work.
Protection vs. Risk
Clearly the worker has a basic level of protection. As long as he performs adequately the worker will earn an income and enjoy benefits that pay for his health and possibly puts away money for his retirement. He won't get rich quick in most situations, but he will be able to earn enough to take care of his basic needs and to live off of. Being a worker involves low risk as the employee simply needs to have the correct skill set and availability to get hired.
On the other hand, the entrepreneur is going at life alone. He has no safety net to provide income to live off of if his efforts fail. While a successful business can be very rewarding and has made millionaires out of many people owning their own company, there are thousands more who have not been so lucky and barely eke out a livable profit month to month. So the entrepreneur side has much larger reward potential as well as personal risk.
Conclusion
Being an entrepreneur is not for everyone, which is why so many people prefer to be employees. Being a worker is easier; there's less to worry about and take care of. That said, in exchange for less worry an employee also gives up control and creativity. For some this is a fine trade, but for those who strive to create and do more, being an entrepreneur is far more enticing and fulfilling, especially in terms of living one's life to the fullest.
The Author, Founder and Creator of Waiternomics - The 7 Steps To Escape The Employee Trap-Forever.
Freedom vs. Contracted Servitude
The employee follows an age-old principle of a service to someone else in exchange for pay and benefits. As a result, the majority of people working trade at least half their life every day laboring for someone else. Our society is built on the pattern that a large group of people will provide labor for a few who then direct, charge and create those things that people want or need to life. This creates income which people then trade for food, shelter, transportation and wants. Aside from the concept of retirement, the average adult can expect to spend the majority of his grown life working for someone else as an employee to earning what he wants and needs for himself and family.
On the other hand, the entrepreneur works for himself, producing a product or service that others want to buy with their income, providing the entrepreneur revenue by which he can grow his business and live off as well. Unlike the worker, the entrepreneur has a freedom to control his own day, work, product and effort as long as his business remains successful. If it fails, he then either has to start a new business or convert to being a worker to have income to live off of. That said, where an entrepreneur is successful, most don't want to go back to being worker if they can help it at all, even if running a business means twice as much work.
Protection vs. Risk
Clearly the worker has a basic level of protection. As long as he performs adequately the worker will earn an income and enjoy benefits that pay for his health and possibly puts away money for his retirement. He won't get rich quick in most situations, but he will be able to earn enough to take care of his basic needs and to live off of. Being a worker involves low risk as the employee simply needs to have the correct skill set and availability to get hired.
On the other hand, the entrepreneur is going at life alone. He has no safety net to provide income to live off of if his efforts fail. While a successful business can be very rewarding and has made millionaires out of many people owning their own company, there are thousands more who have not been so lucky and barely eke out a livable profit month to month. So the entrepreneur side has much larger reward potential as well as personal risk.
Conclusion
Being an entrepreneur is not for everyone, which is why so many people prefer to be employees. Being a worker is easier; there's less to worry about and take care of. That said, in exchange for less worry an employee also gives up control and creativity. For some this is a fine trade, but for those who strive to create and do more, being an entrepreneur is far more enticing and fulfilling, especially in terms of living one's life to the fullest.
The Author, Founder and Creator of Waiternomics - The 7 Steps To Escape The Employee Trap-Forever.
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