The corporate vs entrepreneur lifestyle…
Me at Patch, Chelmsford at a networking event (entrepreneur life!)
The facts on how the corporate and entrepreneur lifestyles compare from someone who enjoyed both!
There’s no right or wrong
This blog has been brewing for a while. I spent almost ten years in the corporate world in London and Sydney, and switched to the entrepreneur life in 2017. Two businesses later, I feel I have enough experience to share my perspective on the two.
Let me say first, neither is right or wrong. Some people feel more signed to the corporate life, and some feel more aligned to the entrepreneur life. And some do both alongside one another!
Comparing the two
Here’s how I see the comparisons of the corporate and entrepreneur life…
1. Income - with a corporate job you get a salary - you get a regular, relatively consistent salary each month. You are typically working under a contract and this can be valuable if you want to get a mortgage. Your job is seen as secure and reliable. Whereas when you are an entrepreneur, your income can be unpredictable at times. At the start of a business, money can be tight and you may even have to invest your personal funds or get a loan to start. Each month your income can fluctuate and typically you may not know what you are going to earn in the future. This can be tough.
2. Sickness. With a corporate job you get paid when you are sick. Generally speaking a salaried job includes sick pay, however as an entrepreneur you don’t get paid when you don’t work.
3. Holidays. Again, as an entrepreneur you get paid for a certain amount of holiday. Whenever you take time off as an entrepreneur, you aren’t getting paid!
4. Having a boss. When you work in a corporate job, you typically have a boss. This is someone who sets the direction for you, holds performance reviews and manages you. Your relationship with your boss is so important and can be what impacts how much you enjoy your job. In the entrepreneur world you don’t tend to have a boss. You are more in control of your decisions, but equally you don’t get someone giving your that praise and motivation.
5. Your time. In a job you are normally contracted to certain hours and commitments. However when you are an entrepreneur, you are the one in control of your time completely. This can be a great thing, but it can also give way to procrastination, or focusing on things that don’t grow your business.
6. Social life. When you work a job, you are surrounded by your colleagues. Some companies have really great social events, and it’s always nice to have a friend at work. When you are an entrepreneur it can get quite lonely. You are often working alone and you miss out on that social interaction.
What do I think?
So on balance what do I think?
I genuinely loved some of my career when I was working in London. You will be surprised to hear that I didn’t love working in Sydney so much (although that sounds way more glamorous!).
For me personally, there was always a part of me that wanted to start my own business. I don’t know why, as I come from a family of ‘employees’. Although I get that in corporate you can earn a great salary, I did always feel that I was living for the weekends. There were times when I was working til midnight, and feeling really undervalued. If you can find a job role that is aligned to your passions, you’ve got a great boss, and friends at work, I think you’ve got it sorted.
But for me, being an entrepreneur is where my heart is. I love it so much. I love that I get to dictate my time and spend lots of precious time with my family. It can be hard at times, when you need a break and the result is that you aren’t growing your business. You do feel like you have to be constantly hustling. And you have to wear a lot of hats all the time. But ultimately, I wouldn’t change it for the world.
Find out more…
If you want to find out more about the entrepreneur life and my story, check out The Jen Lister Podcast…
…Or search ‘The Jen Lister Podcast’ to find it on your podcast platform!
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And if you are interested in chatting more - whether you are in corporate and are thinking of starting a business, or you already have a business click below to book in your complimentary strategy call with me…
