Many people are encouraged to become entrepreneurs because they think it’s the “easiest way to get rich”. Well, it has made Richard Branson, Sam Walton, Bill Gates, and Warren Buffet, to name a few, become billionaires. But does it really make you rich?
Let’s begin first with how much salary an entrepreneur receives as compared with the average salary of an employee in the U.S.
According to the Bureau of Labor Statistics, the average salary of workers in the U.S. is about $44,000 annually in 2016. On the other hand, an entrepreneur receives an annual salary of about $68,000 annually in 2012, according to a study conducted by American Express. You may notice that there is about a 30-gran difference financially. And that is only the median.
Now, if you only want to become an entrepreneur just so you become rich financially, you may be missing the point of becoming an entrepreneur. Becoming an entrepreneur needs a purpose, and that fulfilling that purpose is what makes entrepreneurs rich.
Let’s see how entrepreneurship gives you more than what a regular corporate job can give.
It gives you a sense of fulfillment.
Unless you’ve climbed the corporate ladder and have been promoted to one of the highest positions, it can be difficult to achieve that “sense of fulfillment” if you are working a corporate job. Sure, there’s a sense of achievement when you receive acknowledgment and recognition, but it will not be long until you try to seek some sense of fulfillment again. When you are an entrepreneur, you feel like you have a purpose; that you are doing something of value, not for someone else, but for yourself. And it won’t matter if you aren’t immediately successful. There is a sense of fulfillment even in just trying. You may ask other entrepreneurs about it, and they will definitely say that they have a sense of fulfillment that only entrepreneurship can offer.
It expands your territory.
When you are an entrepreneur, you are able to meet and connect with more people than you will be working a 9 to 5 job. You get to network with your business partners, you meet and connect with your customers, and you will be able to meet other entrepreneurs. Connecting with others is the lifeblood of entrepreneurship, and being an entrepreneur will surely expand your territory.
You will learn a lot through experience.
Being an entrepreneur will help you learn not only about the business. It will even equip you with life skills and lessons that you will never learn working a regular job. It will help develop your critical thinking skills when you encounter a challenge. When you fail, you can take it as a lesson. When you overcome and achieve something, it becomes an experience of victory. You see, experiences are priceless, and you can gain a lot of experiences through entrepreneurship.
You will learn accountability while having a sense of freedom.
Entrepreneurship is a great responsibility and you will learn to be accountable for your decisions as you handle your business. The great thing about it is you develop a sense of accountability while having the freedom to be your own boss.
You see, entrepreneurship will not only make you rich financially, it will make you rich in more ways than you can expect.