There's Never Been a Better Time to Be Your Own Boss — and Here's Why

Every procreation has characteristics that group it apart. Gen Z, nan first procreation to person grown up online, has a vastly different attack to activity than millennials, Gen X and babe boomers.

Having entered nan workforce amid nan turmoil of Covid-19, Gen Z has recovered itself successful an employment scenery beset by instability and gig activity alternatively of salaried jobs pinch benefits. Luckily, nan Zoomers are utilizing this clip of upheaval to their advantage. Rather than settling for unsatisfying, precarious careers, Gen Z is exploring nan perks of entrepreneurship — according to 1 study, a whopping 93% person taken astatine slightest a measurement toward dipping their toes successful business ownership.

In erstwhile decades, entrepreneurship was seen arsenic a risky alternative to a much accepted profession path, 1 embarked upon aft a four-year grade and maintained until retirement. But arsenic a comfortable middle-class life becomes progressively elusive by nan modular means, entrepreneurship is now seen arsenic a viable replacement to moving for personification else.

Of course, entrepreneurship isn't conscionable for Gen Z. Anyone who wants to tin clasp nan galore benefits of startup life.

Related: You're Not Crazy: Trading Your Six-Figure Job for Entrepreneurial Freedom Is nan Right Move

Why now is simply a awesome clip to beryllium an entrepreneur

The connection "entrepreneur" dates backmost to nan 18th century, but nan conception has existed since 1 caveman sold a handaxe to another. But only successful nan past 15 years aliases truthful has entrepreneurship evolved into what it is today.

That's because nan net has importantly lowered nan barriers for anyone looking to motorboat their ain business, from fundamentally anyplace successful nan world. In nan past, nan West Coast of nan U.S. — particularly Silicon Valley — has been a hub for startups, acknowledgment to factors for illustration nan region's preponderance of investigation universities and important authorities investment, among different enticements. The San Francisco Bay Area has agelong had a pioneering spirit, ever since it attracted nan alleged forty-niners hoping to onslaught it rich | during nan Gold Rush of nan mid-1800s. That tone yet gave measurement to pioneers of a different sort, willing little successful mining golden than hacking imaginative solutions to problems utilizing technology.

But now, it's nary longer basal to propulsion up stakes and move to Mountain View to launch your startup dream. Bootstrappers successful particular, who don't activity extracurricular investment, person nary request to schmooze their measurement into backing astatine Google networking events. Digital nomads now roam freely astir nan globe, moving connected their businesses everyplace from Manhattan to Mexico to Malta. Becoming an entrepreneur is easier than ever — each you request is simply a beardown net connection.

Related: The Best Time to Start Your Dream Business Is Now. Here's Why You Shouldn't Worry About Timing.

The perks (and pains) of being your ain boss

There are galore reasons 1 mightiness want to go an entrepreneur. Maybe you've identified a request for a merchandise that doesn't beryllium and want to reside a symptom point. Maybe you spot nan opportunity to make nan world a amended place. Or possibly it's nan manner that appeals to you: Being your ain boss, making your ain schedule and answering to nary one.

These are each morganatic reasons to commencement a business, and location are plentifulness of others, too. But earlier you get caught up successful nan daydream of tapping retired emails poolside successful Bali, remember: Launching a startup is activity — a lot of work. A 40-hour workweek will beryllium a uncommon luxury, particularly astatine first. Answering to nary 1 intends there's besides nary 1 to move to erstwhile things get tough, and if you fail, well, it's difficult to find anyone to blasted but yourself. In a Reddit post discussing nan pros and cons of moving for yourself, 1 personification summed it up succinctly — "Pro: Freedom to negociate yourself arsenic you please; Con: Freedom to negociate yourself arsenic you please."

Research suggests that immoderate characteristic types fare amended astatine this than others. A study from Myers-Briggs, of nan well-known Myers-Briggs Type Indicator (MBTI), recovered that Intuition (N) and Perceiving (P) characteristic types thin to person a much entrepreneurial quality than nan Sensing and Judging types. As nan study notes, "The entrepreneurs successful nan group showed a importantly higher predisposition for creativity, risk-taking, impulsivity and particularly autonomy than did non-entrepreneurs," adding that, "people pinch a penchant for extraversion, intuition, reasoning and perceiving tended to show greater levels of entrepreneurial orientation."

This isn't to opportunity that only definite personality types are suited to entrepreneurship — nan study clarifies that group crossed nan MBTI spectrum tin — and do — go entrepreneurs. But it is worthy taking a difficult look astatine your ain strengths and weaknesses to find whether it's yet nan correct move for you.

Related: Are You Ready For Entrepreneurship? Here's How to Break Free of nan Corporate Grind to Pursue Your Passion

You make your ain luck

I started my company, Jotform, arsenic a broadside task I did it connected nights and weekends connected apical of my full-time job. As a bootstrapped founder, I knew location was nary awesome rate infusion coming to prevention me. That meant I had to make reliable choices and sacrifices, for illustration moving backmost to my autochthonal Turkey from New York City to support down costs.

It was connected maine to descend aliases swim, and I'm grateful that my difficult activity and nan decisions I made astatine nan clip allowed maine to turn my institution to nan size it is today. While location were surely group who mentored maine and helped maine on nan way, it's incredibly satisfying to cognize that nan occurrence of Jotform is nan merchandise of my ain difficult work.

Almost everyone wants nan state to create their ain destiny. In nan past, astir group person settled for less. But I judge there's ne'er been a amended clip to beryllium an entrepreneur. Gen Z whitethorn person immoderate inscrutable slang, but they're not acrophobic to break retired of nan firm mold and create their luck. For them, and anyone other who chooses that path, nan entity is nan limit.