Many people used to ask me what was some of the reasons I chose to become an Entrepreneur. At first I would give a simple answer and that was this: freedom. There were other reasons also but I wanted to try and sum it up with a straightforward response of freedom. However after actually starting a business and continuing to run and operate it my answer would involve more than just freedom today. This is why I want to give three simple reasons as to why I think theres a strong allure into entrepreneurship. These reasons I feel are still relatively simple but are absolutely apparent when one decides to venture off into business.
The first draw I believe is the most tempting reason from them all and that is profits. I like to compare profits to politicians, the number one reason politicians who are in office run again is for re-election. The number one reason for entrepreneurship is the potential for unlimited profits. This is true but I feel as though the use of the word unlimited is over saturated because in order for one to seemingly fall into that category you need to have a product that is revolutionary and can be used worldwide such as McDonald's.
The next allure still stays with my original intention, which was freedom. Many people want that freedom of autonomy and the freedom to make a decision and not have to worry if it will cost you your job. This is great to have but one must remember when you have a business yes you do make decisions but if you make one really bad mistake it could cost you your business and in that situation your livelihood.
The last big allure of entrepreneurship is taxes. It seems as though in business one can almost write off anything. With taxes one is able to make there business an entity free from the entrepreneur making the owner not liable for anything bad that goes on in the business. This is huge because this can shield entrepreneurs in some cases from being sued for everything they have. Also in entrepreneurship taxes are generally lower and with the help and advice of a CPA one can find ways to make a cheaper tax bill at the end of the year.
With that of profits, freedom and taxes entrepreneurship has been an arena that to this day continues to attract people by the millions every year. However it is vitally important that one knows what they want to do and know deep inside them that they too can succeed because with a business venture comes great risk and if one fails then they can find themselves in financial ruins. I'm an advocate for entrepreneurship I just believe that you need to be prepared and to remember this single quote that I live by. It's this "If you want something in life go and get it period", if you can live by this when starting a business then there should be no reason why you can't see success.