Being an entrepreneur has many advantages and can be extremely rewarding. If you have the courage to take a risk and start a business venture, you could be well on your way to achieving your desired lifestyle. Technological improvements have made it widely possible for many people from all walks of life to become entrepreneurs, whether as a part of the eCommerce landscape or the wider gig economy.
UK-born Entrepreneur Chris Jenkins is an eCommerce expert and founder of the luxury sneaker brand, Giovvani. Chris has achieved financial freedom by engaging in various business ventures over the years. For him, Entrepreneurship can lead to:
Independence
As a business owner, you are your own boss which means you can't get fired. More importantly, you have the freedom to make the decisions that are crucial to your own business success.
"By owning your own business, you can skip the queue and immediately become the CEO." Chris shares that in the work world, "it'll take 20-40 years to progress to a high-paying job, and that's if you're lucky and beat your colleagues to the same position that everyone is competing for."
Lifestyle
It is no secret that owning a small business gives you certain lifestyle advantages. You're able to determine when you want to work and where you want to work from. Over the course of his life, Chris's entrepreneurial pursuits have allowed him to work worldwide in the climates he chooses. He has worked in Bali, Vietnam, Panama, Hawaii, California, and Thailand. Given today's technology, it's relatively easy to accomplish this, and it certainly beats spending long hours commuting to an office.
"I've now had the chance to continue this lifestyle and spend time in Mexico, Colombia, Australia, Dubai, and also my time-tested favorite of Bali multiple times. I've sold hundreds of thousands of products across the world and been fortunate enough that I've been able to do it all remotely from my laptop wherever in the world."
Financial rewards
Despite the high financial risk associated with entrepreneurship, running your own business gives you a chance to make more money than if you were employed by someone else. While Chris sees merits in working a 9-5 job to get your business started while you build a strong foundation, he ultimately believes that you must start your own business to see real financial gains. He has owned several ventures that have produced upwards of $20,000 in sales daily and have allowed him to live the life he desires.
Chris remembers how his parents would save up to take trips every year. In business, saving is just as important as spending. Many people say you need to spend money to make money but often forget to add the word “wisely” to that phrase.
“Save as much money as possible no matter what you’re earning until your investments give you the money you need without actually working for it. I see many young guys get into the eCommerce space, and they go from zero to hero in terms of income and ego, as they’re usually straight out of college or university. Typically for this type of person, their income is high, but their net worth is low.”
Saving and investing will help entrepreneurs through difficult times and periods of a lull during their journey. “Whilst spending feels good in the short-term, you are bound to have some challenging months at some point. If you have zero saved, you’ll likely be returning to that 9-5 job much quicker than the entrepreneurs who accumulated their earnings and are ready to invest in the next business opportunity.”
Creative freedom and personal satisfaction
As a business owner, you'll be able to work in a field that you really enjoy. Chris Jenkins has successfully started his own luxury line of sneakers putting his knowledge of eCommerce and marketing to good use while building a brand he is passionate about.
"Throughout my eCommerce journey, I have always been involved in men's and women's fashion, so this feels like a natural progression within my field of experience and is also something I am very passionate about. I believe in Giovvani. We're able to offer a product which is of a very high standard while giving every customer a true feel of luxury."
All shoes are hand-made and thoroughly quality checked to ensure they meet stringent requirements to guarantee customer excellence. Chris believes that Giovvani is more than a sneaker and offers an unrivaled feeling of luxury alongside being a select movement for people looking to upgrade their footwear.
To be successful in business, you need more than determination, perseverance, and hard work. It would help if you also came armed with the knowledge of how to manage your finances as successful money management is also a crucial skill that you must acquire as an entrepreneur.