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I believe that you sometimes think a lot about life generally – but have you ever considered how being an entrepreneur can change your life?
Do you even sit back and consider the impact entrepreneurship generally has on the world? By the way, the world has approximately 582 million entrepreneurs, out of about eight billion people.
This is about 7% of the global population. However, the impact of this is massive.
Even if you are purely a consumer, how is this 7% of people affecting you? Of course, there are lots of good things you enjoy from entrepreneurs. Assume the world was without entrepreneurs. Would it not be an extremely boring world?
You don’t need to think hard, or look far, to appreciate entrepreneurship.
Now, imagine that you are an entrepreneur (old, new, potential, upcoming whatever stage you are in), how will your entrepreneurial journey affect your life and the life of others?
This is the purpose of my blog today: ways in which entrepreneurship will change your life.
Permit me to write this article from an entrepreneur’s perspective.
Can we get going straight away?
1. Improving your creativity and problem-solving abilities. Practicing entrepreneurship equips you with creativity and innovation capabilities including critical and analytical thinking approaches to resolve issues.
As you battle to start, run and grow your business, you are compelled to dig deeper to succeed as business success and failure rest on your shoulders.
You can also quickly see opportunities and challenges, potential in people, where other people cannot. In your endeavours you will experiment and challenge the status quo. You also adapt effectual reasoning – taking the future as unpredictable and yet controllable through human action.
Creativity and innovation are vital for entrepreneurs – and as you learn and develop this, they impact your life even beyond business.
Entrepreneurship makes you nourish your curiosity, with various attendant benefits.
Isn’t this a great benefit and advantage for your life?
2. Transforming people’s lives. How about the impact of entrepreneurship on people and society?
There are literally billions of people employed (directly and indirectly) by entrepreneurs globally today. This has a lot of multiplier effect on society.
The social impact is simply mind boggling. Don’t you agree with me?
Talk about jobs, income generation, purchasing power, meeting demands and needs of people, generating tax revenue to run government etc.
Imagine you are the entrepreneur creating such big impact! How will you feel? You don’t need to be Sir Richard Branson or Warren Buffet to feel this. Even at a smaller scale you can.
This is another beautiful way entrepreneurship will change your life.
3. Recognition in society. This point comes naturally from the above (transforming people’s lives). Successful entrepreneurs usually get quite some recognition and respect in society.
When you imagine and think of the multiple ways in which entrepreneurs impact people and society, recognition becomes obvious.
Trust me – if you went to a function attended by a successful entrepreneur, most likely he or she would be given a seat before you. Am I lying? Even speeches will most likely mention his name while the rest of you are yawning.
There is a saying that people will always laugh at a rich man’s joke.
Don’t get me wrong here. Ok? Don’t go into entrepreneurship for recognition. Never be vain.
Rather, let this come naturally when you have added value to society.
4. Financial freedom is another beautiful way entrepreneurship will change your life if you become successful in it.
It is argued that the only route to financial freedom is entrepreneurship – not education, corporate job, debt etc.
Of course, not every entrepreneur eventually reaches financial freedom – because business could fail, or just do minimally well.
Nevertheless, you are better off trying than wallowing in fear of failure. Not so?
5. Personal growth. When you practice entrepreneurship, you develop loads of skills, attributes and characteristics that add a lot of value to your life generally.
Courage, resilience, strength of character, confidence and humility, passion, accountability, adaptability, getting used to rejections and frustrations including failures, embracing criticism and feedback, seeing value and filtering non-value, sense of responsibility and consciousness, self-discovery, faster decision making, continuous learning, public speaking capabilities, seeing patterns in chaos, calm in tenses situations, etc. etc.
I mean the list is endless. Various elements of personal growth can be activated and achieved through entrepreneurship.
In summary, you can never remain the same after taking the entrepreneurship journey for some good years. Why not try this?
6. True sense of purpose. Again, entrepreneurship is a journey where life makes a lot of sense, because most likely you follow your heart.
It’s not something you do just for the sake, or to survive.
Through this, you do things that truly matter in your life. This is not to say that other aspects of life outside entrepreneurship are rubbish. Ok? Get me right.
An article by Forbes indicates that an intense sense of purpose – and not the money – is the key driver for entrepreneurs.
This is also a warning – never start a business with the main objective of making money!
7. General fulfillment and better quality of life, with flexibility and more balance in life. Though this usually happens only to successful entrepreneurs, it’s another alluring way in which entrepreneur changes the life of an entrepreneur.
You also need to have your mind clear and aim to reach this level as an entrepreneur to achieve this. Some entrepreneurs want to continue struggling until the grave. That’s not nice.
The ability to control and have your future in your hands, enjoy flexible work, time etc. cannot be ignored.
Photo by Fernando Brazil on Unsplash
An entrepreneur can create what he or she wants to a large extent.
The better quality of life including sense of accomplishment is very attractive to many people.
Success in entrepreneurship gives you freedom of choice regarding work, lifestyle, location, finances etc.
8. Taking more risks and dreaming big. Another beautiful way entrepreneurship will change your life is through a mindset change towards risk and big thinking.
Problems usually become and seem smaller for an entrepreneur.
A life in this world devoid of some risk taking and big dreaming is worthless and boring. Don’t you agree with me? You are free to argue with me – but this is the way I see things.
If you like keeping warm in your comfort zone always, and not even launching out an feeling the cold of uncertainty out there, that is your business.
What I know is that gold is refined in fire. Pearls are produced after lots of friction. There are many pros of taking risks.
Do you know why the riskier investments generate higher returns? Check it out!
Beyond business, your life can be transformed in other realms through taking significant risk and dreaming big. So, why don’t you try this approach?
9. Entrepreneurship teaches you the fundamentals of management, and this positively changes your life.
Learning the fundamentals of management makes you a better planner, better decision-maker, better strategist, better allocator of resources, etc.
Now, don’t you want to achieve these skills in your life?
Won’t you need these skills and knowledge in other aspects of your life? Come on!
10. Networking is another fantabulous way in which entrepreneurship can positively impact your life.
Networking gives you access to more information and resources, advice and support, opportunities etc.
Your profile will also rise as you develop more relationships. Certainly, these can generate more value for you beyond business.
Isn’t this splendid?
11. Finally, the entrepreneurial mindset that you grow and develop over time, as you practice entrepreneurship, could be a game-changer in your entire life.
I mean the tenacity, persuasive approach, being a better communicator, positive metal attitude, forward thinking, learning orientation, courage, being comfortable with discomfort, you name it!
The entrepreneurial mindset can improve your life in various ways.
In conclusion, the above are 11 beautiful ways through which entrepreneurship can change your life. Hasn’t this been wonderful? Are you not in a position to now confidently talk about this subject to whoever cares?
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With every good wish, and stay safe!
The Wise Entrepreneur