9 – 5 vs entrepreneurship? READ THIS! 10 top skills you need

Pros and cons that will help you determine between 9 – 5 vs entrepreneurship + 10 of the top skills you need as an entrepreneur!

Today I will share with you what you must consider before making the decision between 9 – 5 vs entrepreneurship as well as go over some of the top skills you need as an entrepreneur or as the perfect candidate for your dream job

Trying to pick between 9 - 5 vs entrepreneurship and find out the top skills you need as an entrepreneur? Look no further because today I will help you make an educated opinion between corporate and entrepreneurship based on you
Make an educated decision that suits YOU and your lifestyle in the long run.

Wondering how to stop the indecision and constantly have that nagging feeling in the back of your mind asking “ should I quit my 9-5 ?”, “is it really for me?” “is it possible?”. 

We can come up with a conclusion by identifying the pros and cons of each path and analyzing what we would be willing to sacrifice in our life to get a particular outcome.

CORPORATE PROS

Personal Growth:

This are just some of the many corporate pros that make us wonder if the whole 9 - 5 vs entrepreneurship is just a current trend
  • You have clear instructions that will lead you to a specific outcome if followed step by step
  • There is always help available if you need it
  • Each corporate employer usually has a ton of free training available to you as a resource
  • You have external motivation from your company’s mission, training, coworkers, supervisors etc.
  • Have no choice but to learn how to develop discipline & structure
  • You have an easier time to develop a network more quickly because you are constantly around other business people
  • It is easier to develop “people skills”, such as, how to work in teams, managing teams, avoiding or dealing with conflict etc

Benefits:

  • You have 401k, insurance & benefits
  • Stability of a set schedule
  • The security of always receiving a check
  • Office space that keeps work and personal life separate and decluttered
  • Free resources you can take advantage of that will make your job easier

9 – 5 vs entrepreneurship? Let’s take a look at the CORPORATE CONS:

Ever wondered "should i quit my 9 to 5?" ever thought about all the benefits that come with it before making that decision
  • You are at the grace and control of someone else
  • Your livelihood is in their hands will be sacrificed if it benefits the bottom line.
  • There is not much room for freedom when it comes to creativity and innovation 
  • You don’t usually have much control over choosing your own hours 
  • You more than likely need to “climb up the ladder” unless you have connections in top-level management. Therefore the pay will be limited/ capped regardless of your talent & value until further promotions.
  • You have to commute (most the time during traffic hours) and be presentable even if you are just sitting on a desktop all-day
  • You have goals assigned to you and no matter what you are responsible to achieve them. Sometimes it can threaten your position even if it is not related to you.
  • Your opinion isn’t always heard or welcome even though it is asked for. That could result in retaliation even if the feedback was appropriate and honest.
  • You risk trading happiness and fulfillment of your own vision

Ready to choose between 9 – 5 vs entrepreneurship yet? No?! Let’s take a look at entrepreneurship now…

ENTREPRENEURSHIP PROS:

Pros: 

Here are some of the pros and cons of entrepreneurship that make our decision between 9 - 5 vs entrepreneurship easier to make
  • The pursuit of your passion/ purpose
  • A deep sense of pride and fulfillment
  • Once you made it, you can have the power to make a difference and leave a legacy
  • You never get bored or stagnant because you have to find solutions, answers, and ways to make things work on your own
  • You have constant growth and progression in your life 
  • There is full freedom for creativity and innovation
  • You have the flexibility to work from wherever, whenever
  • No commute unless you chose to have an office
  • You are not capped at a certain wage amount
  • you have full control of your decisions, successes, and failures

9 – 5 vs entrepreneurship? Let’s take a look at the ENTREPRENEURSHIP CONS:

Personal:

  • You might have conflict and setbacks with both family and friends that could result in losing some of them from your daily lives.  
  • It takes a strong mindset to have no support/believe in you or telling you to go back to a regular job
  • You have to work a lot more hours to make it all come together at first
  • No clear separation between work and life balance unless you make it a point to separate the two
  • The awkward stage of having no audience at first

Work-wise:

  • It is extremely confusing to start something from scratch 
  • It is overwhelming to do everything on your own in the beginning if you don’t have the resources to delegate and outsource work
  • There will be more work involved like for example you’ll have to do your own market research because it won’t be clearly defined for you like it is in the corporate world
  • Tracking yourself is a good way to keep you accountable because you don’t have someone that is telling you exactly how to improve and where
  • Learning to work with 3rd parties, managing the outsourcing, delivering a clear and concise message and vision of what is it you want and are trying to achieve to other people is also essential to your success
  • You get less in-person interaction with others in the beginning stages if you are running a business online so it might feel lonely at times if you are not used to it.

Monetarily:

  • Unless you are well off or have a substantial amount of savings it will be hard to deal with life without receiving a check for a while until you start making $ again
  • You have to pay for your own training and resources
  • Have to develop discipline with finances because now the money you receive is not only directly for you, but also goes to be reinvested in your business such as different software, resources, outsourcing, insurance, layers for paperwork, paying your own taxes, etc
  • You have to somehow be okay with risks and be able to push through hard times

From going over the PROS and CONS of both paths we can safely determine that some of the key factors that are essential to success regardless of which is the road you choose to follow:

TOP SKILLS YOU NEED AS AN ENTREPRENEUR OR PROFESSIONAL

  1. Discipline
  2. Social skills
  3. Problem-solving
  4. Time management
  5. Love for what you do
  6. The ability to take corrective action if needed
  7. Creativity, growth, and a desire for progression
  8. Discipline to create boundaries for work-life balance
  9. Have a tolerance for risks and an open mind to improve the quality of your work when you fail
  10. Compassion to want to commit to contributing to a more meaningful mission

So, what do you think is the best choice for you between 9 – 5 vs entrepreneurship?

All in all, I think there is no right or wrong choice, you just need to do what feels best for you, but make sure that you make that decision on your own and not because someone is telling you to or because it is trendy at the moment to do something. 

Another thing worth pointing out, is that fear of failure is something we all experience and go through when confronting change in our lives and it is normal to go through it, you just need to take calculated risks rather than impulsive. 

So, what is YOUR decision? Let me know in the comments below and please share if you think of any other tips that might help others make this huge decision in their lives!

’till next week! 🙂 In the meantime, you can check other blog posts here or my youtube videos by clicking here

What Everyone Wants and How To Get It

What is more important than family, health, money, and rewarding accomplishments in life you might ask? Great question!

We all want these things in life but in order to achieve them there is one thing we need the most…

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As everyone already knows, there is a major shift in mentality with the new generation; Millennials have completely different values than Gen X, but do they really?! I dare say not!

Gen X have focused on working from the bottom up in a company not just to make ends meet, achieve a title, or because they have nothing they rather do than work; but because their end goal is to be able to achieve the financial freedom to be able to retire and spend time with their family in their future.

Millennials may have a reputation for “feeling entitled” due to their work approach being to work less and expect the same results. The only difference from Gen X is that they want it sooner rather than later.

What is my point you may ask?

There is one thing in common that the rich, the poor, the Millennial, or Gen X all consider to be of the utmost importance in life… time!

TIME! Money comes back, time doesn’t. That is why time is more valuable than money.

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Money is essential but it is not what ultimately makes people happy. Money is just a piece of paper able to buy people the moments of joy they want.

Sadly, in the process of trying to get to those moments, most people spend their entire lives doing something they don’t enjoy in order to finally get that moment of happiness that they are able to afford.

It is not money we are after; it is the wonderful feeling we all long for when we finally get what we want.

But how else could you possibly afford to achieve what you want in life if you don’t start from the bottom and work your way up to a point to where you are able to meet your needs?

Start young, invest in yourself, and keep an open mind!

Adopt a “growth mindset”

Life is not just black and white; you should never think anything close to, “I can or I can’t and that’s that!”.

If you failed 100 times that means that you are 100 times closer to the right solution!

Every time you fail, you should improve your strategy a bit more. Instead of wasting time being discouraged or giving up, you need to realize you are a step ahead because now you know what not to do.

And let’s be honest… Next time you hear someone say, “we tried everything” ask them what they tried and how many times, then call them on their bluff!

There is no way that someone could have possibly tried EVERYTHING to make it work and still failed.

Work on your skills

When school is over, learning should not be over with it! There is always a better way to do things; even if you think you might be the best…you more than likely are not… So, let the ego step aside and learn how to work smarter, faster, and better.

Some people might think my parents were harsh, but I am extremely thankful to them for it!

I learned at a very young age that it is not personal, life is actually pretty simple. People are ALWAYS replaceable and therefore you have to work way harder than everyone next to you in order to be the “replacement” rather than the “replaced”. Period! Work for it! Learn and grow!

The top 7 skills you should have as a base:

photography by justine
  • Persuasion
  • Creativity
  • Conscientiousness
  • Adaptability
  • Time management
  • Collaboration
  • Resourcefulness

When you possess these qualities, you are of immense value to ANY industry because the rest, that is job specific, can be taught, whether you take learning into your own hands, or if it is in formal training through the company.

Create Passive Income

Once you have these skills and the discipline to self-manage yourself to keep on task on your own, start creating passive income skills. Jumping directly to this step is not for everyone in my opinion.

I would suggest first to focus on working somewhere for someone to be able to:

  • Gain some experience in the field of interest
  • Learn how to communicate efficiently
  • Absorb everything you possibly can from the people you look up to (mentor)
  • Save some money
  • Understand how things work as far as your field of interest (what do people want/need?)

Once you do that, you can start applying your knowledge and resourcefulness by taking it a step further:

A couple of ideas for passive income are(there are many more ways, you just have to pick what is most relevant to you):

  • Making an online course and sell it to people that might want to learn that particular skill you are offering
  • Ebook
  • Amazon FBA (Best course available→ https://ki143.isrefer.com/go/asm/Pamy92/ )
  • Invest in real estate and collect rental income
  • Dividend income
  • Affiliate marketing

Start Your Own Business

Once you feel you built entrepreneurial skills by managing yourself (through creating a course for example) you can move on to starting your own business if it is something you are inclined to do.

At first it will be a lot of hours and it might seem overwhelming if you’ve never done it before mainly if you are alone, but it is definitely more attainable than most people think.

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I do highly suggest reading the book “The 4-hour work week” by Tim Ferris, it is life changing when it comes to time management.

Once you are doing good you can scale it to an agency and when you do, please remember how you wanted to be treated when you first started. After-all, helping each other grow is human and is one of the best feelings in the world. Keep humble and give back, whether that is mentoring that college kid that is willing to prove himself worthy and learn from you or whether that is giving back to the community. Just keep it human and be kind!

So if growing yourself to the next level sounds like something you are seriously interested in, connect and stick around for more tips to come!