What's up guys. My name is Nick Cuttonaro
and today we'll be talking about a very important
decision many people are faced with. Should
you become an entrepreneur or should you take
a traditional route of employment? Today,
I'll be going over the advantages as well
as the disadvantages of each choice from my
own experience as an entrepreneur and taking
a traditional employment path. Let's get started.
Right off the bat I want to make it very clear
that you can achieve massive success as an
entrepreneur the same way that you could fail
miserably and fall flat on your face. The
same holds true with traditional employment.
It's truly up to you to determine the level
of success you wish to achieve and the level
you wish to play at. Now with that out of
the way, please mash, poke, or stroke that
subscribe button down below and make sure
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your radar.
I put out two videos each week on personal
finance, entrepreneurship, and real estate
investing to grow your business, improve your
bottom line and expand your wealth. Now let's
get right into it.
Let's talk about entrepreneurship. I'll start
by asking you the million dollar question.
Should you quit your day job? For me, the
answer was easy. Yeah. When I was 24 years
old, I quit my day job. I was in IT sales
and I was miserable. I hated my boss, I hated
my company, and I wanted to take control of
my future.
However, I was always an entrepreneur. When
I was a child I'd create friendship bracelets
and I'd sell them to neighbors. In High School,
I would sell candy during lunch periods and
through study halls I was always selling something
even as a child. I created an auto detailing
company at the age of 24 and it wasn't all
that successful. However, I knew that I was
able to get the phone ringing and I could
generate leads. So it should be no surprise
how I crossed into creating a digital agency
where I took my skill sets that I was best
at and I was able to be paid from clients.
The question for you, should you quit your
day job? Think to yourself what you really
want and what feels right to you today.
Now the advantages of entrepreneurship. As
far as earning potential is concerned. the
sky's the limit. You can really make as much
as you can dream of as an entrepreneur. You
have better tax advantages, so you're able
to be in more control of keeping money in
your pocket. If you're doing what you love
as an entrepreneur you'll take a tremendous
amount of pride in the world and it feels
really good sharing your gifts and special
talents with people who really value what
you're doing. Your Business will become your
baby and it can become an obsession in a good
way if you really love what you're doing and
you believe in your product or service.
Now for the disadvantages of entrepreneurship,
and I'm not going to sugarcoat it. If you
want to become an entrepreneur be prepared
to work longer, harder, faster, and with more
intensity than you did during a traditional
route of employment. You're going to be responsible
for everything including people, so your team,
your subcontractors and people you do business
with or relying on you to remain successful.
There's a lot at stake when you're an entrepreneur
and there's a lot of weight on your shoulders
to keep producing, keep selling, and keep
pushing forward. You can never really take
a vacation even when you step away from the
desk because you're always thinking about
the business up here. It's 24-7 when you're
an entrepreneur and especially if you want
to become a successful entrepreneur. It's
just something to be mindful of if you wish
to take this route.
Now let's talk about traditional employment.
Is it better to risk it all or stay safe where
you're at? I want to get this out of the way
right now. There are too many people on YouTube,
business owners with channels who are saying
that 9:00 to 5:00s, traditional employment
is a scam. Simply put, that is not true and
a load of baloney. 9:00 to 5:00s and traditional
employment keeps our economy running and there's
nothing wrong with working in 9:00 to 5:00.
Everyone cannot be an entrepreneur and they
should know that and frankly I think they're
sending a bad message to viewers and their
team members and employees watching these
videos. If you're going to get on YouTube
and say how much of a scam 9:00 to 5:00s are,
why would anyone want to work for you?
Traditional employment offers a ton of advantages
for employees. For starters, you can rest
easy knowing that you're going to have predictable
pay every week or every two weeks. Also, you'll
accrue paid time off or vacation time where
you can completely unplug from the business,
turn off your phone and just relax and not
have that mental ownership of stress at work.
There are so many advantages such as becoming
friendly and getting cozy, maybe with other
people in your organization, other team members.
Whereas if you're an entrepreneur or a business
owner, that could be frowned upon.
Just like the many advantages traditional
employment offers, there are a crap ton of
disadvantages, arguably more. For starters,
you only have one source of income and that
can be very scary. If you get asked to leave,
if you get fired or if your company simply
can't support payroll, you're screwed. Unless
you have a huge severance plan in place that'll
only get you so far. You're really have a
problem and it's something a lot of people
don't talk about with traditional employment.
Looking for a job can be hard. It can be incredibly
stressful. If you're older, maybe toward the
end of your career, it can be a very difficult
process and if you're at that stage, it could
be really hard making that leap and even becoming
an entrepreneur because you may have so much
at stake. Maybe you're married, maybe you
have children, maybe grandchildren. Simply
put, the stakes are just so much higher and
you just can't afford to lose your income.
Coupled with the disadvantages as far as taxes
getting pulled out of every paycheck, traditional
employment can be really risky.
We're getting to the good stuff now. What's
best for you and what's best for me? Should
you become an entrepreneur or should you stick
with traditional employment? For me, I've
gone the path of entrepreneurship and you
should know this by now. I'm competitive,
I'm hungry, I'm driven, and I play to win.
It's not for everyone, especially if you want
to play at the top. With that being said,
I show up every day. I've been working seven
days a week. My business is going through
changes right now, good changes. I'm in an
expansion mode, so I've been getting to the
desk at about 6:30 every day and shutting
it down around 11:45 each night. I do it day
after day after day and I love it. There's
people around me saying, "Nick, you're going
to burn out," or, "Nick, you need to slow
down, take a break, use a vacation." Those
people aren't me and when you're an entrepreneur,
you need that whatever it takes attitude.
Also, if you want to climb that corporate
ladder in traditional employment, you're going
to need to take that advice too. If you want
to be a C level executive or if you want to
be the president of a publicly traded company
one day, if those are your dreams and your
aspirations, you're going to need to work
hard, work long hours and and commit to really,
really developing yourself and the people
around you. That's what it takes to make a
lot of money. If you want to make millions
of dollars, if you want to become a millionaire
like myself or multimillionaire like myself,
you're going to need to work your tail off
whether you're a entrepreneur or you're taking
a route of traditional employment and you
want to play big. My name is Nick Cuttonaro
and I'll see you next time.
