To be successful, one must love what they are doing and find ways to improve constantly. Whether you are an employee type or entrepreneurial type person, there is no success without hard work and perseverance. Most people transition from employee to entrepreneurship when they feel unfulfilled in their role as an average worker.
Shifting from employee to entrepreneur requires an appetite for risk and sacrifice, as every business struggles to find its footing during the initial months. On the other hand, if you enjoy being an employee and driving innovation in your role within the company, it means you are a job type person. The key characteristics of successful entrepreneurs differ vastly from those required of a job type person.
There are certain factors that define these roles and it is important to know whether you are a job type or entrepreneurial type for you to succeed in your career.
A Job Type Person:
- They prefer keeping fixed hours. A job type person likes keeping their time for work and private life separate.
- Does not like taking risks and putting their finances and career in jeopardy. They dislike uncertainty.
- Enjoys getting a fixed compensation every month for their efforts.
- Is content with the amount of responsibility given to them. They do not wish to be responsible for the entire company’s growth and development.
- They give inputs on what practices or processes would be good for the company, and approach their bosses for direction on how to contribute.
- Employees usually specialize in one area, and are hired to fulfill specific roles.
- They usually retire around 60 or according to the age set by the company’s policy.
An Entrepreneurial type person:
- An entrepreneur enjoys spending their hours on something they are passionate about.
- Entrepreneurs are risk takers and enjoy having autonomy over their work and time. They issue demands and value innovation over uncertainty.
- Does not get a fixed compensation and must adjust as per market demands. When the company succeeds, they usually out-earn all the employees. But when it doesn’t, they must bear the losses.
- Looks for ways to improve the business, and takes on more tasks than the average employee.
- The company is their own, and they take ownership of developing the culture and make business decisions to secure the future of the firm.
- An entrepreneur type person must have a good grasp of all areas of business.
- There is no retirement age as they own their business and can continue to work as long as they want.
Being an employee comes with job and financial security. As it is not your own business, risk is extremely low and you can be assured that as long as you do your work well, you will be given a fixed compensation, as per your contract. It is more convenient to share your ideas with your superiors and team members, and receive feedback on how to improve. A job type person is also entitled to a set number of leaves and does not need to rush in if something goes wrong.
The key difference between a job type person and an entrepreneur type person is that while one shoulders a set of fixed responsibilities, the latter is responsible for the employee and the company. An entrepreneur type person is also unafraid of failures. They know that launching a business comes with its own set of uncertainties and that success comes through trial-and-error. Your financial position also improves with the business’ growth. According to Forbes, entrepreneurs are happier than those who are employed. To be a successful entrepreneur, one must always work on getting ahead of the competition.
Whether you are a job type or an entrepreneurial type person, both roles come with its own share of pros and cons. You must choose the role you can identify with and enjoy being in, to have a happier work-life balance.
The post Are You a Job Type or Entrepreneurial Type Person? appeared first on Industry Leaders Magazine.