Should you get a job or be an entrepreneur?

Updated on : January 20, 2022 by Kira Franco



Should you get a job or be an entrepreneur?

When you get a job, you get a paycheck every month (and you can sue if you don't). He works only the hours he is hired for and does what other people tell him.

When you're an entrepreneur, you often don't get paid, you just have to blame yourself if you don't, and worse, you can take money out of your family's pocket to pay for business expenses. He works absolutely insane hours, often for a lot less per hour. You choose what you do ... and often you have to do things you don't want because the company needs them and there is no one else to do them. You are buying a lottery ticket

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When you get a job, you get a paycheck every month (and you can sue if you don't). He works only the hours he is hired for and does what other people tell him.

When you're an entrepreneur, you often don't get paid, you just have to blame yourself if you don't, and worse, you can take money out of your family's pocket to pay for business expenses. He works absolutely insane hours, often for a lot less per hour. You choose what you do ... and often you have to do things you don't want because the company needs them and there is no one else to do them. You are buying a lottery ticket and you could become much richer than you could as an employee ... if you are exceptionally lucky. Most people end up being much poorer as entrepreneurs than as employees.

Only crazy people become entrepreneurs, often because they feel they have a mission or purpose that outweighs all the negatives.

PS: You may want to get a job, and in the meantime check out The Founder Institute, which allows you to test your business idea and find out what it's like to be an entrepreneur, while keeping your day job.

The question sounds like this: Should I eat or poop?

First of all, it depends on your personality and then on your answers to these questions. Are you innovative? Hate doing redundant jobs? Are you a good leader? Do you like to take risks? Do you already have a good idea to go to the market?

If your answer to these few questions is yes, then you can start to think about the latter.

You already know the answer to that question. Inside you know what you want to do. Just because you ask about entrepreneurship means that there is something inside of you that wants to give it a try. So let go of that wish and go for it. Do not be afraid! :) Best of luck!

I'm going to be honest with you.

I am not a morning person. Like not at all. Reluctantly I wake up, reluctantly crawling into the kitchen so I can grudgingly eat my cereal while scrolling mindlessly on social media.

This morning was no different. But I came across something that really blew me away. This:

Wells Fargo plans to cut up to 26,500 jobs over three years, CEO Tim Sloan said Thursday that Wells Fargo plans to cut 5-10% of its workforce of 265,000 people. He cited ... money.cnn.com

Now why does it matter so much to me that Wells Fargo fires some people that I even wrote an article about it?

Bec

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I'm going to be honest with you.

I am not a morning person. Like not at all. Reluctantly I wake up, reluctantly crawling into the kitchen so I can grudgingly eat my cereal while scrolling mindlessly on social media.

This morning was no different. But I came across something that really blew me away. This:

Wells Fargo plans to cut up to 26,500 jobs over three years, CEO Tim Sloan said Thursday that Wells Fargo plans to cut 5-10% of its workforce of 265,000 people. He cited ... money.cnn.com

Now why does it matter so much to me that Wells Fargo fires some people that I even wrote an article about it?

Because it proves one thing ...

Entrepreneurs are right: job security is no longer a good reason to seek a corporate 9 to 5 job.

Think about what Wells Fargo just did. Really think about what this represents.

Wells Fargo is not a family bakery started by your Uncle Bill in Arkansas.

Wells Fargo is a fucking bank. A bank that had net profits of $ 22.18 billion in 2017. The second largest bank in the world in terms of market capitalization. And they still have to fire people!

Corporate employees believe they are safe. That your job is guaranteed and cannot be threatened. They naively think that they are protected by this invisible safety net that protects them.

After all, that's what we've always been told. My mother used to say that she should be a lawyer or a banker because she would be "ready for life" and "would always have a job."

And I'd bet an arm and a leg that laid off Wells Fargo employees were told the same thing.

The truth is, there is simply no safety net.
Not "established for life".
No warranty.
Any.

And I don't care if you work for Wells Fargo, Bank of America, Facebook, Apple, or Bill's Bakery; you (and your job) are as vulnerable as anyone else.

And, let's be honest, companies don't give a shit about you. The only reason they hired you is that you make them earn more money than they pay you. It may be cold and hard, but it's true, and you know it.

They will kick you out if they stop needing you. And they should. They are a private business, not a babysitter. Sorry.

Do you want more bad news? Here they come…

Technological innovation has made jobs less safe than ever.

Now, I'm not saying I'm against technology, I'm a #Millennial after all. I'm not even saying it's destroying jobs. All I'm saying is that it makes them less safe.

Technology allows us to do more in less time. For example, Wells Fargo is laying off 1 in 10 of its workforce due to "shifts in customer preferences toward broad adoption of digital banking."

Another example: Google is launching driverless taxis and trucks. What do you think will happen to current drivers? Bye.

The good news:

Technological innovation has also made jumping into entrepreneurship easier than ever.

Starting from the premise that American businesses are no longer everyone's job for life, entrepreneurship becomes the safest career option.

At least now you won't be fired despite doing nothing wrong.
At least now he will take matters into his own hands.
At least now you have some control.
At least now your work has a meaningful purpose.

Now, don't get me wrong. I am a freelance writer who writes ghosts for CEOs, founders, and investors. And let me tell you: it's hard, I work long hours and it puts pressure on your shoulders.

But if the only reason you don't take that step is that you think it's too risky and you're safe in the company ...

… Talk to the 26,500 (former) Wells Fargo employees.


  • You should follow me for more (awesome) stuff like this. It's zero Internet Money ™.

I've done well on both, so it depends on what works for you.

Being an entrepreneur is clearly not for everyone. If you are not an entrepreneur, able to cope with risk / uncertainty while remaining optimistic and confident in your own abilities and ability to persevere, owning your own business is a bad idea.

However, those same characteristics tend to be somewhat similar if you intend to move up in any major organization.

However, if you are satisfied with making less money and are simply looking to stay in the lower echelons of an organization, negotiating the ability to earn more for safety, then a higher

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I've done well on both, so it depends on what works for you.

Being an entrepreneur is clearly not for everyone. If you are not an entrepreneur, able to cope with risk / uncertainty while remaining optimistic and confident in your own abilities and ability to persevere, owning your own business is a bad idea.

However, those same characteristics tend to be somewhat similar if you intend to move up in any major organization.

However, if you are satisfied with making less money and are simply looking to stay in the lower echelons of an organization, negotiating the ability to earn more for safety, then a major company or government job may have advantages.

However, those benefits are shrinking. Security is not what it used to be. My father spent his entire career at Shell Oil Company and ended up with a very good defined benefit pension and an early retirement purchase.

I thought I would spend my entire career at Texas Instruments and would have had a defined benefit pension, but I left 4 months before acquiring a minor (there was a 10-year minimum requirement) due to a spectacular job offer in a much more volatile career. . The earnings thereafter more than made up for what that pension would have paid me. Nonetheless, I walked away from stability and security, not to mention a career path that I'm sure would have led to stock options that clearly would have been quite valuable.

TI had and has a history of recurring designs: Within a few months of originally joining, TI laid off approximately 10,000 employees and was grateful that I was offered the opportunity to relocate more than 1,000 miles. Large companies often relocate employees who want to move up the organization, and those who don't move face the consequences.

Even in Austin, the IRS has announced the complete closure of a processing center of thousands of employees, something that federal employees thought was super stable. The military is beginning to end defined benefit pensions. Stability and certainly leading organizations is not what it used to be.

I always worked 50 to 70 hours in big companies, just like mine. Big companies have real advantages, but ultimately the big money goes to the few most important people.

In your own company, all profits go to you. So if you're very productive, you basically "eat what you kill" so you can:

  • Get very fat
  • Feed many family members,
  • Store plenty for future meals and / or
  • Any combination of the above

There is no job security for people who just want to slip, whether in a major company or on their own.

I'm not sure that someone "becomes" an entrepreneur the way one graduates from school, learns to ride a bike, or adopts a specific religious faith or political party. It is more something that reflects your character and nature; the "way to roll". And "being an entrepreneur" has absolutely NO relation to income or success.

So, get on your Unca John's lap, here, and let me tell you a little story as I caress the back of her neck.

When I was a 9 or 10 year old boy, I would play in the creek behind my house. One of the favorite activities was placing stones on the sides of the stream.

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I'm not sure that someone "becomes" an entrepreneur the way one graduates from school, learns to ride a bike, or adopts a specific religious faith or political party. It is more something that reflects your character and nature; the "way to roll". And "being an entrepreneur" has absolutely NO relation to income or success.

So, get on your Unca John's lap, here, and let me tell you a little story as I caress the back of her neck.

When I was a 9 or 10 year old boy, I would play in the creek behind my house. One of my favorite activities was placing stones on the sides of the creek bed to make what, for me, was an attractive watercourse. One day a neighbor noticed this and asked me if I could follow the creek bed to her property, where I would do for her what I had done for my own amusement. "I'll pay you 25 cents an hour," he said.

Well hell's bell, in those days, 25 cents was a double movie, a drink, a box of popcorn, and a candy bar at the theater, so I accepted right away. Six hours of stone laying would allow me to buy movies and a bus ticket for a month to begin with!

So I got to work on the "Millinson Flood Control Project" which covered about 200 linear feet of creek bed on both sides, 400 'in total. And every day, Mrs. Millinson would show up around quitting time, reach in her purse, and pull out a dollar and two quarters.

But what I noticed about this was not just the money, foolishly pissed off with B-grade movies and empty calories, but the fact that I was working independently, guided by my own design, applying my own craft, and working on my own schedule. . I was also aware of promising a result (a "deliverable" for those of you who love words more than deeds) and of some impact on my reputation. And I like. YOU can serve papers; I'll do a real job!

Now that may seem to suggest that a "job" is a bad thing. But that is not really true. In my own case, I tended to be assigned "jobs" that involved working on my own, using my judgment. I can only assume that this was due to the fact that when I was left alone, I could be trusted to do the job with little supervision.

And so, at the tender age of 16, I crossed a lake where I lived, taking a census of the fish caught by the fishermen, duly noting the catches and reporting them on the forms provided. I kept the state ship on our own dock and carried a state credit card for refueling. I was a salaried employee, classified as a "day laborer", but the performance of the work itself was entirely at my discretion. And part of it involved beaching the boat John in State Park, during my lunch break, for "Babe Watch" and later adventures with some girls who were impressed with the state seal on the boat and my green outfit. At this point, the cost of a trip to the drive-in was about $ 5.00 to include admission and bar meals. But with my huge salary of $ 1.25 an hour, this was not a problem. A day's salary has a movie, a baby fuel for a tattered old pickup (35 cents / gal), and some potato chips. What could not be loved?

By now, you should realize that "entrepreneurship" was in my nature. It doesn't matter if you are self-employed or not; Everything you do will reflect your tendency to figure things out for yourself, to see opportunities that others miss, to take risks to find a better (or more fun) way to do something. So, REALLY take a job as a place to exercise your independent and creative approach to whatever task at hand. BUT IF, by some stroke of fate, you are already in a situation where you can "go for it", then maybe you just ignore the jobs and just get on with what you are doing.

What I'm trying to tell you here is that employment in someone else's business does NOT mean that you are not an entrepreneur; it simply sets the limits in which it can operate as such. And this job can provide you with valuable information. Look at it as an entrepreneur would: OPPORTUNITY.

So now I will give you the entrepreneur test. It's very simple. Ready? Here we go:

  1. In any given situation, you tend to ask "what do I do now?" If so, you are probably NOT an entrepreneur.

End of the test.

We see a lot of that here on Quora, don't we? People ask for instruction, the "secret", the method, the steps, the ideas, the books to read and the "how do I do it?" questions. I grant that the questions are sincere. But they portray a mindset that is incapable of original thought or, if capable, unwilling to put in the effort, to take a risk. Don't get hurt, here: find a job where you follow the steps provided by someone else. Get them right and faithfully, and enjoy the rewards, which can be quite substantial.

We also see a lot of questions from people who have done steps A, B and C and now need some advice on D, E and F. Same thing: you are not an entrepreneur. The entrepreneur does not move by steps or instructions, but by vision. If there's something you don't know how to do, you get the answer by looking at what other people are doing and seeing how they totally screw it up. You don't ask on Quora, waiting for an answer to be dispensed like a roll of mints from a vending machine. Well actually, many DO ask on Quora and generally get answers that are so general that they are useless.

By now you will realize that no one "becomes" an entrepreneur. Either you are one or you are not. So the first place to look is within yourself.

I hope that helps.

I think it is very easy to say that "entrepreneurs work all the time". This claim also supports the myth of entrepreneurs as hard-working geniuses who are not like the rest of humanity. That myth is quite detrimental to people seeking entrepreneurship, and indeed to society as a whole (see Nick Hauer's interesting take on this below).

The reality is that the only way entrepreneurs could "work all the time" is if they were somehow drastically and biologically different from the rest of humanity. As an entrepreneur, I don't think entrepreneurs are that drastically different.

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I think it is very easy to say that "entrepreneurs work all the time". This claim also supports the myth of entrepreneurs as hard-working geniuses who are not like the rest of humanity. That myth is quite detrimental to people seeking entrepreneurship, and indeed to society as a whole (see Nick Hauer's interesting take on this below).

The reality is that the only way entrepreneurs could "work all the time" is if they were somehow drastically and biologically different from the rest of humanity. As an entrepreneur, I don't think entrepreneurs are that drastically different. It's just not possible to work all your waking hours without going through horrible burnout, losing your sanity, and destroying your social supports. That said, entrepreneurs work harder than the average person. For example, I work 10-12 hours a day. I'm in the office at 9 a.m. M. And I leave at 7 p.m. M. O at 9 p.m. M. I take one day off a week (Saturday usually). During my time at work, I do all of the things listed above (business development, learning, helping with customer delivery, construction of specifications for the product, quality assurance of human resources, financial planning, etc.). In my spare time I read, listen to music, go out with friends, walk in the woods, look for a dance floor. Normal things.

However, the only thing that entrepreneurs do that are very different from other people is that we are constantly thinking about our business. When I'm at the gym, shopping, with friends, visiting a museum, reading a book ... these activities actually expose me to new ideas and understandings, new conversations, new experiences. Ultimately, these are different lenses that I can use to think about bigger business problems in my company, identify new trends, and solve problems related to short-term tactical issues.

So, I am not "working all the time". I challenge anyone to show me an effective entrepreneur who actually does that. But entrepreneurs are obsessed with thinking about their work. Mainly because we have the opportunity to create our own jobs, so even though we don't like every second of the job, we love and are fascinated by the original idea that led us to build a business to start with.


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Excellent question.

The first step on the road to becoming a successful entrepreneur is understanding the fact that the mindset of an entrepreneur is very different from that of an employee.

The mindset of working professionals can be classified into the following 3 categories:

  1. Employee Mindset = Work regular business hours because you get paid for it.
  2. Intrapreneurial mindset = Taking initiative, going beyond your responsibilities and not limiting yourself to normal working hours. An intrapreneur can be an entrepreneur or a former entrepreneur.
  3. Entrepreneurial mind
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Excellent question.

The first step on the road to becoming a successful entrepreneur is understanding the fact that the mindset of an entrepreneur is very different from that of an employee.

The mindset of working professionals can be classified into the following 3 categories:

  1. Employee Mindset = Work regular business hours because you get paid for it.
  2. Intrapreneurial mindset = Taking initiative, going beyond your responsibilities and not limiting yourself to normal working hours. An intrapreneur can be an entrepreneur or a former entrepreneur.
  3. Entrepreneur Mindset = Regardless of mindset. An entrepreneur is often obsessed with his purpose and achieving the mission of his organization.

An employee who works from 9 to 5 has a narrow vision, limited responsibilities, and therefore limited liability.

But when you are an entrepreneur, you have to work day after day to achieve your vision and add value in the lives of your clients. You tend to be responsible not only for yourself, but also for the actions of your team.

People have the misconception that running your own business will give you more freedom as you won't have to answer to your boss and work specific business hours, which is not true.

When you are an entrepreneur, your responsibility only increases. Now you have to answer to your employees, investors, shareholders, and each and every stakeholder in the business.

But eventually, entrepreneurship is a lot of fun as you work passionately all day on a mission to create great products and solve your customers' big problems.

All those nights and early mornings pay off when you see how many lives you have impacted with your products.

Entrepreneur failed here. Several things are more difficult than a 9 to 5 job:

  • You can't do 9 to 5. I have met some entrepreneurs (real entrepreneurs, not people who hire someone else to run their business). They work 10-12 hours a day on average, often also on weekends, and have fewer holidays than the average employee.
  • You take the risk. In a 9-5 job, you get paid at the end of the month (or the week, or mid-month depending on your arrangement, but you get paid). An entrepreneur gets his money back if he makes a profit, and if he doesn't, he often has to invest more than his pr
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Entrepreneur failed here. Several things are more difficult than a 9 to 5 job:

  • You can't do 9 to 5. I have met some entrepreneurs (real entrepreneurs, not people who hire someone else to run their business). They work 10-12 hours a day on average, often also on weekends, and have fewer holidays than the average employee.
  • You take the risk. In a 9-5 job, you get paid at the end of the month (or the week, or mid-month depending on your arrangement, but you get paid). An entrepreneur gets his money back if he makes a profit, and if he doesn't, he often has to invest more of his private property to get back on his feet.
  • You have to make your own decisions. Except at the highest level, if you are an employee, you are told what to do, or at the very least, what results are expected of you. You are only responsible for your work and nothing else. As an entrepreneur you are responsible for absolutely everything. The worst thing that can happen to you when you screw up at a 9 to 5 job (assuming you don't screw up criminally) is losing your job. The worst thing that can happen if you, or anyone else who works for you, shits on your company, is losing your job, your home and all your savings.

* This is me on a weekend trip to Chicago responding to an email. For more photos of me, follow me on Instagram!

What is it like to be an entrepreneur

I am writing this on my iPhone from the beach. It's Sunday at 10:00 a.m. M. And I'm sitting in a chair facing the Gulf of Mexico. I am here with my family.

So far this morning, I have watched 4 YouTube videos on payroll taxes and QuickBooks, listened to Mike Michalowicz's 50% Pumpkin Plan (Audible - 2x speed), and wrote some ideas on how to optimize my internal business processes. And I am happier than ever.

But obviously this is not fair

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* This is me on a weekend trip to Chicago responding to an email. For more photos of me, follow me on Instagram!

What is it like to be an entrepreneur

I am writing this on my iPhone from the beach. It's Sunday at 10:00 a.m. M. And I'm sitting in a chair facing the Gulf of Mexico. I am here with my family.

So far this morning, I have watched 4 YouTube videos on payroll taxes and QuickBooks, listened to Mike Michalowicz's 50% Pumpkin Plan (Audible - 2x speed), and wrote some ideas on how to optimize my internal business processes. And I am happier than ever.

But obviously this is not a fair or accurate illustration of the life of an entrepreneur. This is just one lucky Sunday that I can spend with the people I love, researching and thinking about my life's work, my passion, my business.

Being an entrepreneur is stressful, scary, uncertain, exciting, endless, and rewarding beyond belief. It is acting according to your dreams, running after your goals, and practicing the arts of discipline and perseverance daily.

Entrepreneurship is an emotional roller coaster. Some days you imagine yourself on a private jet flying to the Turks and Caicos Islands with a multi-million dollar empire paying the way, but the next day you wonder if your business is going to be successful, maybe it's time to look for work. No never!

The vast majority of companies fail and all entrepreneurs know it. Some use this fact as motivation and others are put off by it.

Be the person who motivates yourself.

Stay organized. Systematize everything you can. Get rid of terrible time-consuming customers. Keep investing in your business, but spend wisely. And, most importantly, work with the right partners!

Entrepreneurship is not for everyone. It's risky and you don't always have the luxury of a paycheck every two weeks. But entrepreneurship is the act of pursuing your dreams. And there is nothing more satisfying in the world.

Starting a business takes a lot of time, effort, experience, and risk. Once I started my own business, I worked for two years without pay, and like 80% of all other startups in the United States, I went out of business within two years. At that time I was young, had enough money in the bank to live for two years, and had no family to support. It is not something I would do or could do again.

Other people are never in a position to take that kind of risk. Many do not have the ability to raise the money necessary to start a business, cannot live on low or no income to start the business, and do not have

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Starting a business takes a lot of time, effort, experience, and risk. Once I started my own business, I worked for two years without pay, and like 80% of all other startups in the United States, I went out of business within two years. At that time I was young, had enough money in the bank to live for two years, and had no family to support. It is not something I would do or could do again.

Other people are never in a position to take that kind of risk. Many do not have the ability to raise the money necessary to start a business, cannot live on low or no income to start the business, and do not have the knowledge or skills to run a business.

Another problem is that many people prefer to spend their time applying their trade or profession than running a business, which can consume their time on accounting, marketing, sales, human resources, legal, and other general business tasks.

There is much comfort in the illusion of stability and security. A large number of people prefer this illusion to facing challenges.

For an entrepreneur, facing challenges is bread and butter. You have to be able to cope and thrive in great uncertainty. For that, you must be driven, adaptable, and learn to take responsible risks. You must be persistent to succeed, overcome adversity and sheer bad luck, all the time without becoming fatigued and obsessed (something that will take you straight to a wall). Sounds like fun?

Add to that the isolation you will feel, as you will b

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There is much comfort in the illusion of stability and security. A large number of people prefer this illusion to facing challenges.

For an entrepreneur, facing challenges is bread and butter. You have to be able to cope and thrive in great uncertainty. For that, you must be driven, adaptable, and learn to take responsible risks. You must be persistent to succeed, overcome adversity and sheer bad luck, all the time without becoming fatigued and obsessed (something that will take you straight to a wall). Sounds like fun?

Add to that the isolation you will feel, as you will be surrounded by vultures after the small resources you have, loved ones clearly will not believe your crazy ideas and hopes, and every time something goes wrong it will be on your shoulders. It can be very frustrating.

There is always something else you need to learn or do, or a new expectation to fulfill. It's exhausting and inexperienced and a solid work / stress management system will exhaust you.

Risk and uncertainty will define your reality. Two things most people prefer to be chained up just to avoid.

To survive as an entrepreneur, especially a successful one, you must:

  • admit that you have no idea what you do most of the time,
  • decide and act, even if you're going almost blind,
  • be prepared to change your mind, at some point radically, at any moment,
  • believe total failure can come, and be sure to guard against its worst effects.

This all sounds like a nightmare to most people. They want to protect themselves from risk and uncertainty. That is what they have been trained for.

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