Entrepreneurship vs a Corporate Job: What Should You Select? At one side there are risks and other side stability and let's discuss both entrepreneurship and a job

By Rushabh Vora

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock

It is incorrect to conclude that pursuing Entrepreneurship is better or worse than pursuing a role of a senior corporate executive. Being an entrepreneur is not for everyone. However, not every successful entrepreneur has the skillset to thrive in a corporate environment.

Life as an entrepreneur, especially during the early stages of a business, is very challenging. There is an element of uncertainty and risk that one will not face when he/she signs up for a stable job with a large corporate. Further, the perks at the office and the lifestyle are typically not as extravagant. There are various reasons why people choose to pursue the path of entrepreneurship.

Solving a problem/Addressing a need - The root of entrepreneurship is often based in solving a particular problem. For many entrepreneurs, ideas are driven by real life problems that they have faced. A prime example for this can be Brian Chesky and Joe Gebbia, founders of Airbnb. The need for a pocket-friendly accommodation other than hotels led them to create this model. Entrepreneurs identify a need or look for innovative ways to solve a problem. However, their focus for resolution is macro in nature. The solution they create isn't limited to themselves but has a widespread impact.

The pursuit of passion - Passion is what drives an entrepreneur. A deep-seated sense of ambition for an idea which needs to be brought to fruition. This focus is what gives an entrepreneur the ability and strength to move forward. In an era of QWERTY keypads, Steve Jobs envisioned a single button phone. His passion for design and functionality are what drove the iPhone. When the naysayers come galore, passion is what gives an entrepreneur the ability to succeed.

Give back to society - Social entrepreneurship and impact businesses drive many entrepreneurs. Profit is essential, but so is the need to give back to society. An example is Toms Shoes - when a single pair of shoes is bought, a pair is given to the needy. Similarly, when a pair of eyewear is bought, another's sight is restored via their eye care program. Entrepreneurs just don't amend their lives, they make amendments in the society and the world. Microsoft's Bill Gates is another example of a socially conscious entrepreneur. He spends a great deal of his time and money on philanthropy through his foundations.

Thriving beyond boundaries - Entrepreneurs are their own boss. Their desire is of a free life, of exploring boundaries, and a better work-life balance. Their creativity and ideas are not hindered by anyone. The planning, risks and damage are all theirs. They are not scared to fail. In fact, during a recession, entrepreneurs can adapt quickly and diversify businesses. Entrepreneurship is a long process. Perseverance is the key, which distinguishes them from competitors. Entrepreneurs are driven and willing to take challenges. They build their future on their own mettle. Their self-confidence is at a high and is geared up to craft something meaningful. An example is of Richard Branson whose third company Virgin flew after two companies did not.

Constant growth and expansion - Entrepreneurship can be pursued by the second or third generation as well. Often they are left with no choice but to follow the family business. Here, unprecedented growth is a huge driving factor. They are driven by the will to perform and succeed. Such entrepreneurs take up challenges, face risks, and play to their strengths. An illustrious model is Richard Eu, the fourth generation member of the Eu Yan Sang family. He along with two cousins took over the reins of the disintegrating Eu Yan Sang Chinese medicine (TCM) company (Singapore based). They rebuilt the empire with a modern approach giving it the respectable Asian brand identity it enjoys today.

Rushabh Vora

Co-Founder and Director, SILA

Rushabh Vora is the Co-Founder and Director, SILARushabh Vora, Co-Founder and Director, SILA. 
Living

The 3 Lifestyle Habits That Made Me Sharper, Stronger and More Successful

These three simple yet powerful lifestyle changes transformed my productivity, energy and mindset. Here's how you can do the same.

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.

Science & Technology

How Can Marketers Use ChatGPT? Here Are the Top 11 Uses.

With the recent developments in AI and the popularity of ChatGPT, you may want to integrate AI into your marketing practices. Find out how.

Science & Technology

The Deepfake Threat is Real. Here Are 3 Ways to Protect Your Business

The rising use of deepfakes is a growing threat to businesses and society as technology advances. Here are three tips for companies to combat this threat.

Marketing

5 Ways ChatGPT Will Impact Digital Marketing

ChatGPT is creating ripples across the digital landscape right now. Here are five ways it can benefit your ads, campaigns and marketing strategies.

News and Trends

Kolkata-Based Lab-Grown Diamond Brand Jewelbox Secures USD 3.2 Mn

The startup will primarily use the funds to expand its retail footprint, growing from eight stores to 30 locations by the end of this year.