Why Entrepreneur start companies rather than join them

Every entrepreneur has a different set of the story that why they start a business. Some has already taken the initiative from day one that they wanted to work for themselves and other come up with new ideas that can solve problems for someone else and decide to take the entrepreneurship leap.

Most of the people always agree with this-that entrepreneurship is great. And there are lots of reasons for this, and every entrepreneur has his or her owns set of reasons as well. Here are some of the reasons which show that why entrepreneur start companies rather than join them

Why Entrepreneur start companies rather than join them

Capable: Some people choose to be an entrepreneur because when they feel that they are more capable of what employers can tell them from an interview or resume. So, entrepreneurs start their own venture because they cant capture their worth to potential employers.

Better pay: It is a fact, that when people choose entrepreneurship they earn 10% more what they get in a corporate job. As because a corporate salary is based on your interview and your educational qualification.

Less predictable pay: In Entrepreneurship, there is always a downside as well, means that their pay is more on the variable basis- as some make less and some much more.

Smarter: Entrepreneurs always score higher on the cognitive ability test than their educational qualification test. And their cognitive ability is also higher than those people with the same work credentials and educational who choose to work in a company.

Education: Entrepreneurs always try to get more knowledge and increase their skills because they correctly and rightly expect their productivity which will be higher than the industry can infer from just their qualification.

Immigrants and Funding: Signaling may explain why some groups such as immigrants, with less credible signals to existing companies tend to gravitate toward the idea and work of entrepreneurship. 

Entrepreneurs are innovators.: Entrepreneurs always think of new ideas and technologies that have come to life over the past few years. And they bring those ideas into life

Entrepreneurs have the ability to changes the lives of people. They have an idea for making a product or providing a service that has the potential to make a huge impact on the people and solve their issues.

Despite all these things why most of the startups fail:

According to a report, 10 out of 9 startups failed and can’t resists in the market. And despite being failing, it’s increasing on a daily basis.

Here are some of the reasons for startups company’s failure:

  • Lack of focus
  • Lack of motivation, commitment and passion
  • Taking advice from the wrong people
  • Lacking good sort of mentorship
  • Lack of knowledge in general and domain specific: finance, operations, and marketing
  • Raising too much money too soon
  • Not having the right team
  • Need/lack business model
  • Poor/No marketing
  • Ignore customers
  • Having the high competition in the market.

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