Working independently isn’t for everybody. In the event that you choose to forge ahead independently, the benefits will be substantial.
Peter’s alarm blared to life at 6:30 a.m., jolting him out of a restless sleep. He was already unsleeping. As he lay immobile, his gaze fixed on the ceiling, the oppressive silence was punctuated only by the soft seepage of dawn’s light into his darkened room. It was Wednesday.
The monotony of routine hung over this day like a shroud, devoid of any distinguishing features that would set it apart from its predecessors or successors. That was exactly the issue. In a humdrum government agency, Peter occupied a mid-level position, his role so obscure that even he struggled to articulate its significance. As he emerged from slumber, he embarked on his daily routine, dedicating around 10-11 hours to his responsibilities, before taking a break to savor dinner and retire to rest. As his daily routine devolved into a monotonous cycle, he found himself stuck on a mental treadmill, unsure how to step off or regain control.
Regardless of its merits, many people draw significant meaning from their careers. According to a 2022 analysis by McKinsey, a staggering 70% of employees reveal that their sense of purpose is deeply rooted in their occupation? The reality is that our intrinsic value as individuals far exceeds the monetary compensation we receive.
As the traditional 9-to-5 grind loses its appeal, a growing number of people are taking the leap, embracing freelance careers, independent consulting, and entrepreneurial ventures. Employing oneself on behalf of someone else was traditionally seen as the conventional career path. The proliferation of digital connectivity has made entrepreneurship more accessible than ever before, allowing individuals to establish their own businesses with unprecedented ease and simplicity. Without hesitation, the vast majority of entrepreneurs who take the leap – an astonishing 96% – report no desire to surrender their independence and revert to a traditional 9-to-5 role.
Working independently isn’t for everybody. If you choose to venture solo, the benefits will be substantial.
One of the greatest advantages of being your own boss is… Freedom reigns supreme; no outside authority dictates your every move. As you launch an entrepreneurial venture, you’re afforded the unique opportunity to shape your vision and bring it to fruition, provided circumstances unfold as planned.
For individuals with a strong desire for autonomy, this level of freedom is a cherished reality. However, that does not preclude it from being work. For those who thrive on structure and define a fulfilling workday as eight hours long, entrepreneurship may prove an attractive fit. As soon as you wake up, you’re likely to leap out of bed with an abundance of enthusiasm for your online venture, and figuring out how to grow it will be at the top of your priority list from the moment you rise. There’s a significant likelihood that this could impact your objectives.
For those who prioritize a work-life balance, that’s a non-negotiable aspect of any job or profession. The pursuit of freedom often accompanies a significant amount of stress. However, I’d further suggest that building an enterprise doesn’t necessarily require a drastic shift you make overnight. For several years, I maintained a dual focus, splitting my time between my day job and nurturing Jotform during early morning and evening hours, once I had departed from the office. Once I finally left my full-time job, it was both due to my confidence that my business could sustain itself and because I had grown to crave the lifestyle of being a founder – I knew I wanted to be my own boss.
My suggestion? Go slowly. Check the waters. Have you ever had the motivation to build something during your spare time, amidst other responsibilities? Without the pressure of external direction, does your motivation dwindle and your inclination simply fizzle away? Before taking the leap, it is crucial to have a profound understanding of yourself and to be truthful with that self-assessment.
While I take pride in managing my own schedule, this aspect of entrepreneurship isn’t necessarily my most enjoyable part? For me, the epitome of success lies in having control over my business and its objectives.
As a passionate advocate for self-funding entrepreneurial endeavors, I am a staunch proponent of bootstrapping. When accepting VC funding, you often have to relinquish control in ways that could ultimately jeopardize the survival of your startup. ButcherBox’s founder and CEO, Mike Salguero, has a chilling tale to tell: after raising $30 million in funding for his initial venture, he experienced a horror story that still sends shivers down his spine. Despite this, enterprise capitalists held a divergent view on Salguero’s company’s trajectory, advocating for adherence to their initial strategy rather than allowing the founder and his team to adapt and pivot. As Salguero’s gaze fell upon the horizon, he found himself securely lashed to the mast of a vessel doomed to crash on the unforgiving rocks that lay ahead, powerless to alter its catastrophic trajectory.
“As we navigated the complexities of our organization’s trajectory, I lost sight of our heritage, our office, and ultimately, the authority to shape the future direction that our company should take,” he said in a recent HBR IdeaCast episode.
Notwithstanding the success of his initial venture, Salguero decided to launch ButcherBox on a more modest scale, leveraging self-funding to drive its growth.
While I acknowledge that securing external investments can yield returns, numerous successful enterprises already demonstrate this effectiveness. When one of your primary objectives as a founder is to develop and nurture your team within an organisation, bootstrapping can be the most effective approach to achieve this goal.
As entrepreneurship gains popularity, a growing number of people are embracing the entrepreneurial spirit, driven by compelling reasons to do so. Your time is yours to command, allowing you to craft the trajectory of your life according to your own design. It requires a significant amount of drive and self-discipline to achieve one’s goals, and the truth is that success is not always a straightforward or enjoyable journey. When circumstances align in your favour, the benefits can be truly worthwhile.
