Damon Becnel shares 8 Facts You Didn't Know About Being An Entrepreneur

Becoming an entrepreneur can be intimidating. There is a lot of information out there, and it's not always easy to find the truth about what being an entrepreneur will entail for you, especially if you're starting or considering entrepreneurship as a career option. In this post, Damon Becnel takes some common misconceptions and myths about becoming an entrepreneur and sets them straight with eight facts that might surprise you!

Entrepreneurs are Happier than People who Work for Someone Else

Contrary to popular belief, entrepreneurs are happier than people who work for someone else. A study by Gallup found that business owners reported a greater sense of well-being and satisfaction with their lives compared to employees in other professions. This is because most entrepreneurs do what they love for a living; it's not about the money or position that comes along with owning your own company but instead about making an impact on others through something you're passionate about. Every day can be different when running your show, so there's never a dull moment!

Self-employed Individuals have Less Stress

Another myth is that being self-employed leads to more stress than less - this isn't always true either! A survey of self-employed individuals found that they had less stress than those who work nine to five jobs. This is because entrepreneurs usually have more freedom and control over how their business runs, leading to fewer daily hassles outside the office. In addition, many businesses are run from home, so you can set your schedule for working - this means family time isn't interrupted by long commutes or having to rush back from a meeting!

It's common knowledge that entrepreneurship will lead to greater job satisfaction, but did you know it also leads to increased opportunities? Research shows that entrepreneurship provides new entry points into careers and additional advancement options in existing careers, giving people more flexibility if they won't change throughout their lives.

Entrepreneurs have Better Relationships with their Spouses

Entrepreneurship often leads to better work-life balance than other professions. Not only are entrepreneurs less stressed, but they also have more time for their families and friends because there aren't the same long hours or commute that you might find in other career paths. This means entrepreneurs can spend quality time with those closest to them every day if they choose - talk about a perk!

Starting your Own Business will Increase Creativity Levels

There's no doubt that entrepreneurship is challenging; however, it increases creativity as well. Research has shown that starting up a new company stimulates creative thinking skills among individuals, translating into everyday life situations outside of working hours. Whether it's brainstorming ideas, resolving issues, or thinking of how to market your product more effectively - creativity is a must!

Self-Employment has been Shown to Lead to Better Health

Not only does entrepreneurship increase happiness levels, but it also decreases the risk for cardiovascular diseases as well. Research shows that self-employment can even positively affect physical activity levels and body mass index (BMI). This is because entrepreneurs have greater motivation to stay healthy with so much responsibility surrounding their business success.

Entrepreneurs tend to be healthier than those who work nine to five jobs due to lower stress levels, leading them towards healthier lifestyles. Entrepreneurs are less likely than others working traditional jobs to engage in risky behaviors such as heavy drinking, smoking, or using drugs.

The Majority of Entrepreneurs do not start as Millionaires

That doesn't mean you won't succeed. There are plenty of success stories out there where entrepreneurs have turned into millionaires, but it's important to remember that most people aren't in that same boat. Research shows that most entrepreneurs start off making less than $50K per year, and more often than not, they report being satisfied with their income levels.

Most Entrepreneurs will Fail within Five Years or Less

This doesn't mean you should be discouraged - it just means that most entrepreneurs fail within the first five years. This is because not every innovative idea will turn into a profitable business opportunity. Even if your product or service does become successful, there are still other factors to consider, such as marketing, cash flow management, etc. It's important to remember. However, that failure can be part of the process, too; many great ideas were born out of failed past ventures!

Most people don't start their businesses until after they leave college, but entrepreneurship isn't only for those who have graduated from university or college either. Many people take on self-employment because of early retirement, while others choose when looking for employment.

There is no Typical Day for an Entrepreneur

This is because each person's business operates differently and has different needs based on the industry it's in and what stage it's at in its life cycle. No two entrepreneurs are exactly alike!

Many people leap into entrepreneurship because they want to work for themselves without a boss looking over their shoulder. While this is true, it's important to remember that being your boss also means you're responsible for everything - including all mistakes made along the way too. The good news is if you are successful, the satisfaction of working for yourself and watching your business grow can make up for all that hard work!

There are many different reasons people become entrepreneurs - perhaps it's to improve their well-being or want more control over how much money they make. No matter the reason, entrepreneurship is not for everyone, and you should always be sure that starting your own business is what you want!

This article does not necessarily reflect the opinions of the editors or the management of EconoTimes