Entrepreneurship: a word I simultaneously adore and despise. As someone with aspirations to one day starts a successful company, the idea of growing a fledgling business into a powerful corporation is exciting. Others would shun my dream scenario in favor of a stable job that puts food on the table. Neither path beats out the other. It all depends on what someone wants in life.
So, why are so many online entrepreneurs yelling from the rooftops about how it’s stupid to stay in a job and that everyone should quit the 9-to-5 and dive into a business full time? That’s not only an overgeneralization; it’s a limiting mindset. Entrepreneurship is not just for the likes of Elon Musk, Mark Zuckerberg, or Reid Hoffman. You can easily flex your entrepreneurial muscle while working full-time with a small side business. I recommend that you try it at least once. Not only will it be a rewarding experience, but many benefits will help you in your career or even open up a new one
1. Tax Advantages
You can write off many purchases as business expenses, including home office space, office supplies, furniture — even business miles driven. If you detest handing your hard-earned cash over to Uncle Sam (I’ve yet to meet anyone who doesn’t!), you should be running to get your LLC.
2. Side Revenue Stream
The average “non-employer” (one-person) business has more than $40,000 in yearly revenues. Even if only $10,000 were profit, that would mean more than $300 a month in your pocket. And remember, $10,000 is the average, not the limit. Nothing is stopping your business from bringing home far more. What would you do with an extra $300, $600, even $1000 a month (that’s Chipotle every day for me!)?
3. More Control
The average millionaire has seven revenue streams. If one disappears, that millionaire has six others to bank on. A side business gives you an additional source of income that not only puts more money in your pocket but also gives you more control over your life. The second revenue stream means that your job no longer owns you. You can decide to quit your job and scale your company. You won’t be (too) upset when your boss doesn’t give you that raise. You won’t complain when your lazy coworker gets the promotion over you. Why? Because your job isn’t your everything. At home, you’re nurturing a business earning you hundreds, even thousands, a month.
4. Experience to Add to your Resume
If your side business is successful, you can add the experience of running it to your Resume. That can easily distinguish you from candidates with MBAs or standard managerial expertise. I’d instead hire a high school dropout with real business experience and success over a Harvard MBA with nothing.
5. Increased Happiness
Regarding happiness, 77% of business owners are happier than the average worker, while 52% of American workers are unhappy with their jobs. You may be of the 48% in love with their work, so enjoy the benefits of being an employee and a business owner. If you hate your job, the side biz is an opportunity to escape the daily grind and maybe even replace it. Take the chance — you have nothing to lose.
You don’t need to launch some super-sophisticated tech startup to become an entrepreneur. Running a company alongside your full-time job is not only viable but advantageous. I’ve already listed out the benefits. Now, you need to take the following steps. So launch the blog, open that eCommerce store, and make a freelance business with your skills — start your own side business and enjoy the control and freedom it brings.
