The idea of be your boss can be exciting; you can run your business the way you want and hire people as well. Is entrepreneurship the right career choice for you? Starting this adventure comes with several challenges! It's not easy to build, establish, and grow your business in a world filled with competition, risk, and change. Are you swaying between employment and entrepreneurship? If yes, this article will show you a comparative survey between both spheres. Let's understand the advantages and disadvantages of both professional options.

What is Entrepreneurship?

The false perception of entrepreneurship has arisen from certain media which strive to show entrepreneurs as billionaires with no time. But, in real life, the situation is entirely different. Entrepreneurship is a kind of investment and self-employment. It can be a private project or a mutual collaboration between two investors. To enter this field, you need:

• Money: investment is already a financial circuit. It requires a starting budget, a financial plan, and a strategy to get revenues. Here are 13 Best Planners for Entrepreneurs to Succeed in 2021
• Skills: you need to know about the field in which you will invest your money, whether it is lucrative or not.
• Insurances: taking risks for a project requires a guarantee to secure the rights and minimum damage possible.

An entrepreneur is not necessarily an academic person. Entrepreneurship doesn't require a certain degree, as you will be responsible for everything. There is no academic institute teaching all about entrepreneurship, as this is a big world, where everyone has his own technique, strategy, and way to pursue business. Is It too Late to Start a Career at 30?

The Difference Between Employment and Entrepreneurship:

There are many differences between employment and entrepreneurship in terms of roles, responsibilities, and earnings.

-Employment is a career choice based on applying for a job in which you invest your skills, knowledge, and experience to work in a specific field and get a salary. Entrepreneurship is a kind of start-up in which you have to deliver a product or a service, find a market, brand it, and find suitable employees to perform selling, bookkeeping, and operating in the field.

-Employment is oriented towards benefits and financial refund. During the lockdown, many employees thrived on getting their employment benefits while staying at home. Entrepreneurs, on the contrary, were harmed by the pandemic disease. Even the reimbursement didn't meet their financial target. Take a look at; 9 Must-Read Books to Prepare Entrepreneurs for 2021

Employment or Entrepreneurship?

This question always comes across many potential professionals who are interested in self-employment. To decide a final answer, let's understand how things work in both fields:

1.Working Hours

Time is money. An entrepreneur's working hours vary greatly, especially at the beginning of the project; an entrepreneur is fully occupied in business and may work every day for 16 hours. This can go for months before the business finds stability. An average employee works 40 hours per week for eight hours a day, with leaves and paid holidays. An entrepreneur may forget about holidays, especially when there is a limited budget. Seven ways to Stay Motivated on a Full-time Job

2.Comfort:

Depending on the business level, an entrepreneur may enjoy spending more time with his family than an employee. But, if you are a home-based employee, you may have a comfortable life compared to someone constantly working in the same field.

3.Payment:

As an employee, you know what is expected from you and how much would you get paid. You don't have to worry about your salary, as everything is initially fixed in your working contract. Concerning entrepreneurs, they are billionaires! This is the biggest lie in the entrepreneurship secret life. An entrepreneur can indeed multiply his income so many times. But, this depends on many sacrifices; an entrepreneur may have initially worked without earning a single penny. You should count the risks, the amount of effort put in before the company was founded, and the tested plans and the business ideas, not to mention the start-up phase, which can last from 2 to 3 years, with no cash!

 Is Entrepreneurship a Good Career Choice?

Many entrepreneurs started their businesses and regretted it. Others developed their investments overseas and operated in various industries. Not all entrepreneurs have the same fate. To understand if it is a good or a wrong career choice, you need to know how to survive in the world of Entrepreneurship, how business works, how to overcome challenges and reach success. All these phases should be taken into account. If you want to know whether you are made for this career, you should ask yourself the following questions:

1. Do you like to solve problems?

Are you able to find solutions to problems? If yes, entrepreneurship may be the best career choice for problem-solving people. An entrepreneur is supposed to face challenges, among them solving problems. Therefore, before entering this world, ask yourself first whether you are a problem-solving guru or not.

2. Do you have a plan?

Whether you choose to start a new business or take over the existing business, you need to know if you have the plans, resources, and connections to run the business. Setting the goals is one of the most critical steps in knowing where you are going.

3. Can you take the risk?

Betting on everything is stupidity, but some entrepreneurs did it, and it worked well for them. Being your own boss and leading your teams can be tempting. But, the cost of this empowering image requires a lot of sacrifices. Your business's success depends on your decisions, which often leads to stress and pressure, mainly when things are predicting a career failure.

Before jumping into any career choice, you need to study the field, which one goes with your personality, knowledge, and skills. Fratres aim to prepare young people for work-life and determine which one is better; employment or entrepreneurship. Therefore, sign up for Fratres after choosing your country and give it a try.