Did you know more millennials than ever are starting their online businesses? As per the latest Global Entrepreneur Report, the record has crossed the numbers of entrepreneurs in the time of the baby boomers. So, what is the reason behind the rise of entrepreneurship?
Entrepreneurship has been a life-changing experience for so many people who have the right mindset, consistency, and tenacity. The internet has changed the world of business in so many ways. Right now, it is easier to reach thousands of people with a single click! The services and products that make human lives easier have become more accessible. A group of ambitious entrepreneurs with creative abilities, and never-ending enthusiasm made it possible.
But why so many people are taking the route of self-employment? Isn’t it risky, mainly after the COVID-19 pandemic? While it is safer to stick with a job that guarantees a fixed paycheck every month, many people find it non-fulfilling and stagnant.
Starting a business is not only about making more money but also about enjoying a whole new lifestyle. Check out the unique reasons mentioned below –
The Freedom Of Self-Employment
Freedom is the biggest motivation behind being your boss! Yes, it has so many challenges too. But most people become entrepreneurs to have versatile working hours. Many people left the corporate biggies for a smaller one that offers more flexibility. Everyone can’t function during the same hours of the day. But a flexible schedule is not possible with a full-time ob that mandates 40 working hours a week. A home-based business allows better control over the work-life balance. Of course, business owners still need to cater to the market demand. But a self-employed expert can decide how to do it and when to do it.
Building A Source Of Pride
Starting a business from scratch is never easy! When you are starting your online business from home, you are the one-man-army! You have to take care of marketing, planning, production, and delivery. But accomplishing tough things provides a sense of achievement. Starting a small business is quite a big deal. People pay for it in sweat, work hard to take it forward. But that’s fine because the new-gen entrepreneurs are not afraid of challenges. If you love what you do, you will always aim for big things! The route may seem volatile and exhausting at first. But, when you achieve your goals, it is worth taking the plunge. Your confidence will grow, you will learn discipline and responsibility, slowly but steadily.
Long-Term Financial Security
People think that salaried jobs are the safest option out there! What if you lose your job tomorrow? What would you do without your sole source of income?
A successful online business ( no matter how long it takes to grow) has more than one income stream. Also, once you have established a solid client base, all your hard work will show its true potential.
Low-Investment – Greater Earnings
A home-based online business doesn’t need a brick-and-mortar establishment. All you need is a high-speed internet connection, a well-conditioned computer, and some additional accessories to make the products/ services you are offering. From crafters selling their unique gifts on Etsy to designers running their online agencies, making money has got easier with little investment. The low-risk initiative means anyone can start an online business, even if it fails. And if it grows, you will earn more, save more for the rainy days, and you can also invest more to build your backup.
Conclusion
The beauty of self-employment is that it allows people to plan and control their destiny in a way that conventional jobs don’t. So, what are your reasons for taking the gears in your hand? Think twice and act wiser.
