I’m a huge advocate of entrepreneurship, and I’m constantly encouraging others to start businesses, but the truth is I think most people would be better off by NOT becoming an entrepreneur.
While I do believe entrepreneurship is the best route to getting insanely rich, it’s certainly not the best or the only route to earning six or seven figures a year — and it’s definitely not the only route to happiness and success.
Unless being an entrepreneur is part of your definition of success like it is for me.
Right now, Silicon Valley and tech startups are sitting on a pedestal in our culture. Everyone wants to create the next billion-dollar app or social platform.
It’s awesome, sure, but it’s also distracting. Realistically, most people who drop out from college won’t become Steve Jobs or Mark Zuckerberg — they’ll just end up regretting it.
I’m not trying to be a dream killer, but this is the harsh reality.
Entrepreneurship is great — but only for those who love it enough to work seven days a week.
It’s not that you’ll always have to work that much, but the best entrepreneurs want to work that much. Do you see the difference?
If that’s not you, perhaps you would be better off not becoming an entrepreneur.
Your Life Will Be Much Simpler
As much as I love entrepreneurship, the further I make it the more I realize this just simply isn’t for most people.
Secondhand accounts can’t prepare you for the stress and responsibility that comes with entrepreneurship.
You might be thinking “What is there to worry about if you have employees to do everything for you?” and the answer is simple — you worry about the employees. As the leader, you are responsible for the success of your company, which is responsible for your employees’ paychecks.
Life is so much simpler working a 9-5 job. You have free time in the evenings, you have weekends off, and you get paid time off.
If something goes wrong outside your department, you won’t have to solve the problem and you probably won’t even know about it.
Here’s the secret no one tells you about “being your own boss” — you still work for people. You work for your clients or customers, as well as investors and shareholders in many cases.
Now the upside is you have the freedom not to work for them. I’ve fired several clients, some who even paid very well, because they were simply unpleasant to work with.
But you can’t easily fire investors or shareholders, so keep that in mind.
You can also fire terrible employees, but that’s not the real challenge for entrepreneurs — the challenge is finding good employees to hire in the first place.
Good Employees Are Rare and Valuable
When I was 18, my boss told me that simply showing up to work on time and performing your job as expected every single day was all it takes to stand out from 99% of employees. Little did I know how true that was.
Good employees are so hard to find. Dependable people who deliver quality work consistently are rare and businesses will do whatever it takes to hold on to those people.
Great companies are built and maintained by great teams. Technology has replaced a lot of jobs, but there are still so many meaningful jobs for humans that aren’t going anywhere.
That means as a good employee, you have so much more leverage than you realize. Employers will pay whatever they can afford to hold on to their best people.
As long as you choose a field with high earning potential (Is College Still Worth It? ), you can potentially earn six or seven figures a year and actually have your weekends off.
That doesn’t mean you don’t have to work hard or that you won’t have to work some weekends early in your career to climb the ranks, but life as an employee gets pretty cushy towards the top.
You likely won’t see a lot of content from me on this subject because I’m very pro-entrepreneurship. I’m not trying to convince you not to become an entrepreneur — that’s your decision.
However, I did want to share a few thoughts about the upside to being an employee and I also want to let you know that it’s okay if you don’t have aspirations of becoming an entrepreneur.
After all, great businesses don’t exist without great employees.
99 Habits For Those Who Want it All
This FREE guide includes 99 action steps to get in shape, feel excited to start the day, and accomplish more in less time!
What do you think? Do you agree, disagree or have any thoughts to add? Let me know in the comments below.
Never miss out on new posts like this by subscribing to my newsletter!