Top 5 Reasons to be an Entrepreneur

April 7th, 2006 by Matt Inglot

Something that I am asked every couple weeks is “why entrepreneurship?”. This is a question that always makes me hesitate, and I’ve noticed that my reply is never exactly the same. Yet deep down I know it’s what I love and would do even if the world was topsy turvy and making a lot of money through entrepreneurship wasn’t possible.

Let’s examine the decision to be an entrepreneur. It’s a complex topic so I’m going to break it down into a few posts exploring the benefits, disadvantages, misconceptions, and motivation behind entrepreneurship. I recently read that lists are more likely to attract traffic and since I have neglected the blog this week let’s begin with what I feel are the top 5 reasons to be an entrepreneur:

#5 There is an Upside

There aren’t a whole lot of categories that most of the world’s rich fall into. Inheritance, real estate, and business are the main three as we learned in New Venture Creation at WLU. It’s hard to be born rich or inherit the family farm, but business unlocks a path to real wealth potential. Whether you build it up to a multi-billion dollar venture yourself or sell while it’s hot, there is definitely money to be made. But is it all about cash? That’s a topic for a future article.

#4 If You’re Bored You’re Doing Something Wrong

Running a business is an incredibly diverse “field” to be in. Through my ventures I have been exposed to incredible and interesting knowledge ranging from business fundamentals such as marketing, accounting, sales, and customer service to the importance of time management, goal setting, and even exercise. I literally view the world in a completely different light now than before I became involved in business. Everyday I find myself learning something new and being immersed in a different and new area. You can’t get much further from an assembly line than this.

#3 It’s More Satisfying than Roller Coaster Tycoon or Sim City

I’ve always enjoyed playing simulation games. While Doom was the hot item with most of my friends I really prefered Sim City and other empire building games. It’s an incredibly satisfying feeling to start with nothing and end up with something absolutely amazing. I believe in seizing this building attitude and applying it to life. Afterall why should I build a virtual company when I could apply the same concepts to real life? Treating life as a game may sound silly as first, but frankly I’m having a lot of fun.

#2 Thinking is Rewarded

Running a business may be hard work, but that’s certainly not what you are rewarded for. Often times burning the midnight oil is simply the bare minimum for entry into business. Your returns come from working smart, and the quality of your ideas and creativity are now directly tied into your revenue size. A single good idea can make you $10 000 in one hour while slaving away for 40 hours on a bad one can have virtually no return.

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.

#1 Success is in Your Hands - A Whole New Job Security

Headlines constantly barrage us about the lack of job security in so many sectors. GM and Ford are both laying off masses of people. I’m only 21 and I have already been laid-off twice. I’ve also only ever been an employee twice. Having a job these days, even with a massive company, provides only the illusion of security. Why let your well-being depend on the decisions of a CEO, whose absolute #1 priority isn’t your future? Ensuring your own prosperity and achievement of your goals is ultimately the responsibility of one person and one person only - you.
We’ll even things out in the next entrepreneurship post when we discuss the multitude of reasons to not be an entrepreneur.


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Four Reasons why a Computer Should be Masculine or Feminine

An English teacher was explaining to his students the concept of gender association in the English language.

He stated how hurricanes at one time were given feminine names and how ships and planes were usually referred to as "she". One of the students raised their hand and asked - "What gender is a computer"?

The teacher wasn't certain which it was, so he divided the class into two groups, males in one, females in the other, and asked them to decide if a computer should be masculine or feminine. Both groups were asked to give four reasons for their recommendation. The group of women concluded that computers should be referred to in the masculine gender because:

1. In order to get their attention, you have to turn them on.

2. They have a lot of data but are still clueless.

3. They're supposed to help solve your problems, but half the time they ARE the problem.

4. As soon as you commit to one, you realize that, if you had waited a little longer, you could have had a better model.

The men, on the other hand, decided that computers should definitely be referred to in the feminine gender because:

1. No one but their creator understands their internal logic.

2. The native language they use to communicate with other computers is incomprehensible to everyone else.

3. Even your smallest mistakes are stored in long-term memory for later retrieval.

4. As soon as you make a commitment to one, you find yourself spending half your paycheck on accessories for it.


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Top 10 Reasons Why I Like Working for Myself

1. My work speaks for itself. I was tired of my boss constantly looking over my shoulder and telling me I wasn't good enough. The feedback I get from my clients is truly attributable only to myself; no one can take that from me.

2. Office attire now consists of slippers, yoga pants and a hoodie. And yes, I start everyday with a shower.

3. No more “9 to 5”. If I want to work at 7am then take a yoga class at 11am, I can. Likewise if I choose to sleep in a little and work late. Plus, I love those afternoon siestas!

4. Plenty of opportunities to make WAY more money. I am no longer slave to the “you’re-not-worthy-of-your-full-bonus-even-though-there’s-no-reason-you-shouldn’t-have-it-other-than-I-don’t-like-you-and-I-want-a-new-in-ground-pool-installed.”

5. I create my own challenges and accept the projects I want – and at the rates I choose.

6. I am no longer “stuck” with a boss or colleagues; I get to choose who I want to work with.

7. More freedom to meet and network with people. If someone asks for a coffee meeting at 10:30 in the morning, I don’t have to tell the boss where I’m going or make excuses. I just go.

8. I get to spend more time with my cat.

9. Lunches don’t come in plastic containers; I make it all fresh.

10. No more office politics. I play by my own rules.

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11 Reasons to Date a Female Geek

By Joyce Carpenter on Fri, 01/13/2006 - 10:00am

There have a been a couple of great top ten lists lately. First there was Maryamie's "In Defense of Geeks or Ten Reasons Why You Should Date a Geek" and then Sarah Blow's "10 Reasons NOT to date a Geek (unless they don't follow this pattern!)". Now Maryam uses her husband as a model, so her assumption that the geek in question is male might be forgiven. I more disappointed in Sarah, though, since she describes herself as a geek.

So, here are my 11 reasons to date a FEMALE geek [hat tip to Maryam]:

1) She can fix your computer and make a website for your new startup.

2) She has friends who can fix your computer and design a database for you.

3) She can program your mother's VCR and Tivo your favorite shows.

4) Her friends can program your mother's VCR and Tivo your favorite shows

5) She can fix your friends' computers.

6) She'll make you shine wherever you go -- how many of your friends are smart enough to date such a smart and useful woman?

7) She can pick out a the right cell phone/mp3 player/digital camera for you. Even better she can afford to buy it for you.

8) She'll be so happy that someone appreciates her for her real talents, that she'll adore you.

9) She won't cheat either. Given a choice between George Clooney and the newest tech toy, she'll take the toy.

10) Did I mention that she can fix your computer, make a website, design a database, install your cable modem and WiFi router, setup you iTunes for automatic download of your favorite artists, download your Outlook contacts onto the new cellphone/mp3 player/digital camera that she bought you?

11) And, she can cook dinner while doing all of the above.

Filed under : Cool Stuff
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10. You will get free juice and cookies.

9. You will weigh less — one pint less when you leave than when you came in.

8. It's easy and convenient — it only takes about an hour and you can make the donation at a donor center, or at one of the many Red Cross mobile blood drives.

7. It's something you can spare — most people have blood to spare... yet, there is still not enough to go around.

6. Nobody can ask you to do any heavy lifting as long as you have the bandage on. You can wear it for as long as you like. It's your badge of honor.

5. You will walk a little taller afterwards — you will feel good about yourself.

4. You will be helping to ensure that blood is there when you or someone close to you may need it. Most people don't think they'll ever need blood, but many do.

3. It's something you can do on equal footing with the rich and famous — blood is something money can't buy. Only something one person can give to another.

2. You will be someone's hero — you may give a newborn, a child, a mother or a father, a brother, or a sister another chance at life. In fact, you may help save up to three lives with just one donation.

1. It's the right thing to do.

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