Four Reasons to Become an Entrepreneur

Today, after lunch, I will be speaking to an Intro to Business class at our local High School. I love every opportunity I get to speak to teens. It’s a chance to encourage and inspire young adults to make good decisions about their career and future.

So today I will be talking about four reasons to become an entrepreneur. These are reasons that I think most teenagers could relate to. It’s not about complicated plans to grow the next tech startup. It’s about the basic reasons that motivate people to start their own hustle.

What is it about some people that makes them want to create their own business? What makes people take risks and chart their own course? Here are four reasons:

Job Scarcity or Job Security

For many people, the desire to start their own business comes from a very practical reason. They don’t have enough work, or they can’t find an adequate job. These factors push them to start their own business in an effort to pay a bill, get out of debt, or save for a big purchase.

People that have never had their own business often feel like it is a more risky option to be your own boss. However, those that have had their own business for awhile, think the opposite. They would rather have many customers rather than just one. Essentially, when you work for an employer, you only have one customer. To an entrepreneur, that is more risky than having multiple customers.

Freedom

Most entrepreneurs are looking for freedom when they start their own business. They are looking for the freedom to decide what to do and when. They are looking for autonomy. It’s about self-direction. They don’t want to work on another person’s schedule.

This is powerful. I know two entrepreneurs that went to work for someone else. They were offered a nice salary as well as benefits. It only took a few weeks for both of them to go back to work for themselves. I think they had seen too much. They knew what it was like to be their own boss and just couldn’t work as an employee any longer. Freedom is a good thing!

Wealth Creation

If you read the book, “The Millionaire Mind” by Thomas Stanley, you will understand that the best way to create wealth is to start your own business. It is difficult to build wealth when you work for someone else.

Here is the main reason. When you are an entrepreneur, you are leveraging more than your time. As an employee you are essentially trading your time for a paycheck. You are paid by the hour. However, when you own your own business, you are usually paid for the value of your service or product.

What gives business owners, the chance to build real wealth is the opportunity to get paid for what their business produces. They are leveraging their own time, talent, experience, knowledge as well as their employees.  This allows them to make money based on having a great team.

Work That They Love

The final reason that folks become entrepreneurs is that they want to do work that they love. Owning your own business is a great way to express your passion for whatever it is that you want to do. This can either be the work itself that you love or your work can make it possible for you to do other things that you love.

Here is an example. I know a business owner in my state that takes his family on a trip to South America each year to do mission work in orphanages. He has a large family, yet his business makes it possible for him to fly his family to another continent every year to serve and make a difference. To me, this is the most powerful reason to become an entrepreneur

So these are my four reasons to become an entrepreneur. There are more for sure, but these cover the main ideas. Are you ready? You need to get started early. I hope you take action on an idea today.

Take a minute and send me your idea. I would love to chat with you about it. Thanks for reading!

About The Author

Duane Rockensock

Duane (Rocky) Rockensock is a husband, a dad, and the National Reconditioning Manager for AmeriGas Propane. Since he was a teenager, Duane has loved hearing the stories of how people have started creative businesses or found ways to use their talents to accomplish amazing things. For that reason he started this blog to encourage teens and adults to find their purpose and to provide the tools and resources to make that happen!

  • Erica

    Loved reading these posts during my lunch today! Very encouraging considering this is not a very “pushed” idea anymore!

  • Erica, thanks for your comment. I agree with you! Entrepreneurship is such a powerful thing for so many people. This week alone I have had some really cool conversations with two entrepreneurs. It’s amazing to me what they have accomplished and how they encourage others to do the same thing. Thanks for reading!