Living life as an entrepreneur appeals to a lot of people but starting a business from the ground up can be quite daunting. It takes a lot of work and sacrifice to become an entrepreneur and to truly succeed in the field. Some get to reach success by chance, but such circumstance is a “once-in-a-lifetime” kind of opportunity.
Entrepreneurs have the guts to put everything on the line to develop products with the hopes of profit. But is entrepreneurship really worth it?
The truth is entrepreneurship is not for everyone and is not worth it at all for some. Without the obsession with success, freedom, and value, it’s relatively hard to be successful as an entrepreneur. Finding some alternatives might deliver the edges of being a business owner while sidestepping some of the disadvantages to starting a business.
You can live the life of your dreams and escape your 9-5 jobs by exploring some alternatives— the one that will give you the experience you’ve been yearning for while reducing obstacles of entrepreneurship. You can build a good name from the bottom to the top, making massive profits at your comfort by merely doing what you really love.
Here are the 4 alternatives you have to make a lot of money without becoming an entrepreneur.
Intrapreneurship
Various businesses have one or two classes of individuals that make waves day by day. But how are these individuals getting supported? The answer? Intrapreneurs.
An intrapreneur is a person who works, acts, and thinks just like an entrepreneur but within the constraints of a company that has already been established. These intrapreneurs are empowered to break out from company norms and culture to bring up fresh ideas, innovation, and creativity. They are always seeking to do their own thing that helps the company excel.
Intrapreneurship is for those who like entrepreneurship but without the dangers of risks. These intrapreneurs come in various faces, and one role an intrapreneur can be is Chief Operating Officer (COO). A COO is the second in command in a company. They oversee the everyday operational and administrative functions of a business, acting as a Senior Vice President who reports directly and works closely with the CEO.
Other roles that an intrapreneur can have been are Chief Technology Officer (CTO) and Chief Information Officer (CIO). The role of these positions is pretty easy to grasp. The CTO is accountable for technology-related matters, as well as research and development. The CTO reports to the CIO, who has the same role as the CTO does. The only difference is that CIO makes reports directly to the CEO.
Intrapreneurs play a grand role in companies because they are always looking forward to creating something different and new. They are an outstanding asset to businesses, and their out-of-the-box way of thinking can help even large organizations to be a lighthouse brand in their industry.
There are companies that have structures that encourage employees to pioneer new business lines in exchange for bonuses and equity. If you can see a company with a strong culture of innovation, you will be able to build your business within it, having the advantage of possessing start-up capital and lesser personal risk.
Sales
It takes a lot of courage and determination to be a good salesperson and to communicate with hundreds of different people every day. When you’re in sales, you need to get used to being rejected, and understand the ins and outs of a business to know why customers buy in the first place, as well as formulate strategies on how you can get them to make a purchase as often as possible.
Since a salesperson is often paid based on performance, people within these field makes quite a lot of profit, that is if they have the skills for selling. The better the salesperson is, the more money he/she can make. Making 6-figure earnings is an easy peasy if you’re a salesperson.
If you’re trying to push yourself to your limits, you might want to dive into sales. And if you want to become more extroverted, persuasive, social, and confident, being in sales would assist you in being charismatic— someone knows how to deal with people and get them to do whatever you want.
Assess yourself, and if you think that you have what it takes to establish a relationship with customers and get them to buy, having sales as a career can offer you great opportunities.
Solopreneur
Wondering how solopreneurship differs from the known traditional entrepreneurship? At its core, entrepreneurs start and operate their business but don’t handle all aspects of their business, while solopreneurs do all the work when it comes to their business. Solopreneurs are basically entrepreneurs, but not all entrepreneurs are solopreneurs.
To put things simply, solopreneurs manage all aspects of their business and do not rely on others by delegating tasks. They are the founder and creator of their business, as well as the manufacturer of their own products. Solopreneurs also deliver services or products to keep their businesses afloat.
Most people who pursued a career in solopreneurship aren’t largely pursuing serial entrepreneurship. They often tend to venture into one specific niche offering and focus on establishing a steady customer base that will keep their business profitable but is not striving to expand to keep the business manageable for only one person.
Freelancing
Freelancing jobs are making it to the headlines since the pandemic hit around the globe. Many people are turning into it as a side hustle, and others as bread and butter. Either way, it is a good alternative to entrepreneurship to make some serious bucks.
The nature of freelancing is quite similar to that of a solopreneur, only that they have lesser responsibilities and solely sell services. There are many job options when it comes to freelancing including video making, copywriting, color grading, audio engineering, and so much more.
When you’re in a freelancing business, you can have control over your workload, the people you work with, the job you take on, the clients you desire to work for, and of course, your pay rate. With strong hard and soft skills, it is possible for a freelancer to work part-time, but earn full-time pay.
The good thing about freelancing is that it takes nearly nothing to get started. The emergence of freelancers led to the development of a new idea— the gig economy. On the contrary to the traditional working setup where an employee works full-time to get a fixed salary, individuals who go with the gig economy work for multiple clients at their own terms and at a price he thinks he deserves.
