For the fourth quarter of last year, the percentage of job seekers who were opting to start their own business and venture into the life of entrepreneurship, was the highest that it has been in the last four years in the US. It's estimated that at least 7.4 percent of all new job seekers decided to start their own business, which is a dramatic increase from the 4.8 percent that was seen a few years ago back in 2015.
A decent portion of those starting their own businesses are also seen to be individuals over 40 years of age. It's estimated that there are over 8.7 million self-employed individuals in the U.S. at the current time.
More individuals are realizing that they cannot get the job security that they need and seek from traditional jobs in the market, so it's prompting them to consider putting their future into their own hands and that of the consumer, by embracing the chance to get into business.
The entrepreneur works for themselves, but they also work for the consumer.
And if the consumer isn't happy then you aren't going to be doing good business. Sometimes the consumer can be even more demanding and trickier to deal with than the boss that you might be displeased with having to work under.
Despite the pressures that come along with it though, in many ways it can also be much more rewarding than a job which requires working for someone else. And that's probably why so many more people are looking to explore their own inner-entrepreneur and personal business desires.
The Cheap Credit Doesn't Hurt Either
There are many resources available out there today that really provide a lucrative array of knowledge that can be utilized in order to try and figure out how to start your own business. There are free articles, free videos, seminars, courses, and books, it's really about finding what works for you.
There are a number of benefits to entrepreneurship:
- Money & Success.
Say you work a job that has a salary of 12k a year. Well no matter how hard you work, you will always be capped at that 12k a year. Keep in mind that not every job is the same, some offer sales incentives/raises etc. But for the most part, you are capped at a certain salary point. With going into business for yourself and starting your own company, you aren't capped, your earning potential is limitless. This is because it depends on the market and how they respond to your business/product. You could make $50 in one day or you could make $500 in one day, it's up to not only your product/service and your own efforts but also the response from the market. - Time.
You work for you so that means that you are in control of your work schedule and your time. For some, this sort of freedom can sometimes inspire laziness because there isn't a clear direction/objective or focus for that time, unless you decide to assign one. For many entrepreneurs, they will spend long hours and late nights working on their startup in order to see it someday successful, so just because you start your own business doesn't mean it's a vacation. - Explore Creativity & Personal Interest.
This method of employment really helps a lot of people to be able to explore what they are passionate about. Whether that's cooking and starting a food truck, or loving music and opening a studio or music store, having a knack for comedy and making your own comedy content online, there are so many different ways to start your own business and get into the world of entrepreneurship. - No Limits.
There really are no limits when it comes to age, sex, religion, color of your hair, political beliefs, how many tattoos you have etc, because you get to decide what works for you. And if you have a good product/service, then your individual characteristics won't infringe upon that or prevent you from doing well.
With this type of employment though, there can quite often be a lot of pressure that comes with that because if you don't perform well and you don't have good sales, then you aren't going to get a paycheck. There isn't anyone there to bail you out. For some this is just the sort of fuel that they need, because it really fuels them to grow their business and want to continue to succeed and achieve more.
It doesn't hurt that there are a lot of shows out there today that are really helping to promote innovation and entrepreneurship, shows like The Profit, Shark Tank, Dragons Den, Billion Dollar Buyer, Blue Collar Millionaire, Blue Collar Backers, Restaurant Startup, and more. Hopefully those individuals who take the chance of walking down this road, will see success for themselves and that more in the future will be interested too in being their own boss.
Pics:
Pixabay
Challenger, Gray, & Christmas
ABC
Sources:
http://fortune.com/2017/02/22/startups-2017-challenger/
http://www.abc.net.au/news/2017-02-21/catalysr-mentors-migrants-on-how-to-start-own-business/8286372
http://www.forbes.com/sites/neilpatel/2016/04/18/4-huge-life-benefits-of-being-an-entrepreneur-being-rich-isnt-one-of-them/#f38d2755ad45
https://www.theinterngroup.com/our-blog/7-benefits-of-being-an-entrepreneur-and-a-career-in-entrepreneurship/
http://cbs4indy.com/2017/02/22/former-manual-tech-high-school-turning-into-entrepreneurship-hub/
http://www.forbes.com/sites/geristengel/2017/02/22/proving-the-vcs-wrong-entrepreneurship-has-no-age-limit/#fd38c962b193
Previous Writing On This Topic:
Entrepreneurship: Follow Your Dreams And Work For Yourself
https://steemit.com/life/@doitvoluntarily/the-path-to-becoming-an-entrepreneur
Using Social Media To Build Your Brand
https://steemit.com/business/@doitvoluntarily/using-social-media-to-build-your-brand
Would You Rather Be A CEO Or A Personal Assistant To A Celebrity?
https://steemit.com/science/@doitvoluntarily/would-you-rather-be-a-ceo-or-a-personal-assistant-to-a-celebrity
Former Google And Uber Employees Look To Reinvent The Doctor's Office
https://steemit.com/science/@doitvoluntarily/former-google-and-uber-employees-look-to-reinvent-the-doctor-s-office