It’s Friday 5 time. Matt Inglot’s list of the top 5 reasons to be an entrepreneur is a pat on the back for those who’ve already made the leap — and an inspiration for those of you still toying with the idea of starting a business. Matt notes:
While working a regular job isolates you from the risk of no return on bad ideas, it virtually nullifies the incredible return on good ones. Imagine coming up with a way to save your boss $30 000. You’ll be lucky to get a $500 bonus, and in all likelihood you will receive nothing at all.
Matt’s spot on. If you save your own business $30,000, you’ll capture the entire amount. Likewise, if you come up with a way to generate more money for your own business, you’ll receive a larger share than you ever would from an employer. For example, last year, I came up with a new service for my consulting business to offer. Within 11 months, I was earning $700 a month *in profit* from that one idea — and I expect that number to climb further. That’s $700 in my pocket every month. If I’d done that for an employer, I’d get a thank you and perhaps a small year-end bonus.