Last week Chris Hanks from the Terry College joined us to discuss Entrepreneurship. According to Hanks the primary reason people start their own business is because they hate their boss. Another reason people start a businesses is so they can do what they love to do. These two reasons resonated with me. I have always wanted to quit my job and start my own business. The problem is I don’t hate my boss, my co-workers rule, and I love what I do. Based on my experience and conversations with friends it appear that my situation unusual. This is quite a conundrum.
Working for someone as opposed to working for yourself means that you don’t reap the rewards of your work in the same way. When you are the boss you take the monetary risk and reap the rewards. These rewards can be huge…or not. In my case I work for CDC and my job is relatively secure compared to similar jobs in the private sector. This perceived security coupled with my work environment are a massive hurdle to the possibility of making massive money. How do you value a good work environment? What if I quit my job, fail, and end up in a job that sucks!? Ugh.
I think a third way for me may be not to quit my job. My job affords me the work/life balance to work in my off time on a small business. A small business on the side allows me to supplement my income with other income streams. This augments my job and makes and enhances an already secure situation. If something bad happens with the business, meh, I still get paid every two weeks. The question for you though is what should you do? Well, that’s up to you.