Despite the Risks, Entrepreneurship Will Always Beat a 9-to-5 Job There is much more involved in running your own business, but there is also great potential for reward.

By Timothy Sykes Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

For the many individuals who have ever thought about starting their own business, chances are there was one thing that stopped them: the risks.

In my industry especially, I talk often about the risk/reward relationship of entrepreneurship and why I love it. Many of us think about starting our own business only to be turned off by the projected risk, time commitment and extra work involved. True, there is much more involved in entrepreneurship than there is in a traditional nine-to-five job, but there is also great potential for reward.

Related: 5 Signs You're Ready to Start Your Own Business

When it comes down to it, there will hardly ever be as much risk involved with sitting behind a desk at a nine-to-five job as there will be as an entrepreneur. You have too much responsibility for there to be. However, you also have more freedom, more power and more potential for reward.

As an entrepreneur you have the incomparable thrill of freedom. Not only the freedom to make your own decisions and do things the way you want them to, but the freedom to work when you want and to make what you want. Compare this to an office that has set times, set pay and no flexibility, and you can see why freedom is one of the biggest draws of self-employment.

There is also an increased amount of satisfaction that entrepreneurs are able to get from their work that individuals working in a traditional office setting simply cannot reach. The money you make as an entrepreneur is based entirely on your hard work. Every dollar you make is equal to the time and effort you have put into your career. This feeling cannot even compare to the small bonuses you get over time with job promotions.

Related: The True Meaning of 'Entrepreneur'

As an entrepreneur, your freedom also comes with the benefit of not having a boss. This means no more reporting to superiors up the food chain of the corporate structure or being harassed by bosses you don't agree with. As an entrepreneur, you are the boss. Being the boss means you are not only limited by the demands of your superiors but you are not limited by an actual office either. You can work where you want and when you want, whether it's from your sofa or an exotic location.

But of course, there are those risks. There is always the risk of losing your money based on your own actions. There is a risk of not working hard enough. You can't slack for an hour or day like you can at a traditional job and still get paid. There is no medical support from your corporation and no benefits. If you want benefits such as insurance or a 401k, you need to get them yourself.

Being an entrepreneur also comes with a high risk of failure. There is no getting around that. Many people who try to start their own business fail. To even have a chance of making it succeed, you need to be willing to be competitive and to sacrifice everything, including your personal life. For many people, this is the ultimate risk: losing their personal lives while they work to get their companies off the ground.

Next time you find yourself wavering between the decision to hold on to your traditional job or venture into the world of entrepreneurship, remember that while it is normal to be fearful of the risks involved, there are also great rewards to be had for those who are willing to take the plunge.

Related: 5 Ways Entrepreneurs Learn to Manage Risk

Timothy Sykes

Entrepreneur and Penny Stock Expert

Timothy Sykes is an entrepreneur and a penny stock expert, trader and advocate. He has been featured on CNN, Fox News, CNBC and more. Watch his media appearances and speeches on Youtube here.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Elon Musk's DOGE Is Hiring People Eager to 'Work Long Hours' to Eliminate 'Waste, Fraud and Abuse' in the Government. Here's How to Apply.

The Department of Government Efficiency is hiring U.S. citizens to help cut spending and headcounts in the federal government.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Uber's CEO Says Drivers Have About 10 Years Left Before They Will Be Replaced

Uber CEO Dara Khosrowshahi says the jobs of human drivers are safe for the next decade, but after that, another type of driver will take over.

Business News

'Everyone Can Profit From It': What Is DeepSeek? China's 'Cheap' to Make AI Chatbot Climbs to the Top of Apple, Google U.S. App Stores

DeepSeek researchers claim it was developed for less than $6 million, a contrast to the $100 million it takes U.S. tech startups to create AI.

Devices

Business Owners are Grabbing as Many of These MacBooks as They Can

The Touch Bar is uniquely suited to the multitaskers, and it's only $399.99

Social Media

How To Start a Youtube Channel: Step-by-Step Guide

YouTube can be a valuable way to grow your audience. If you're ready to create content, read more about starting a business YouTube Channel.