Lucrative Internship Alternative
Why would you spend money to start your own business instead of receiving a salary by doing an internship?
Because it is the most lucrative alternative of the two.
«There’s freedom in this knowledge. You become the captain of your own ship, the maker of your destiny. Whether you end up working for someone else or pursuing another entrepreneurial adventure, you know the success of your career is in your hands.»
(Sean Johnson)
Internship vs. Business is exactly like the old saying: «If you give someone a fish, they eat for one day. But if you teach them to fish, they eat every day for the rest of their life.» Of course starting a business while in school or immediately after is certainly not the traditional option. But ask yourself this: Would you rather someone else decide if, when and how much you are worth being fed, or would you feel more secure knowing you are in control?
Here is a simple way to decide between an internship and starting your business, depending on your specific situation. You need to consider the financial aspect and the experience aspect. Let’s explore the finances first.
The investment of finding an internship lies in the time it will take you to find it, through research and interviews, as well as in the loss of income while you are doing that. Then there is the difference between the salary you receive and the higher revenues you could be generating with your business. The upside is that if and when you do find an internship, you know exactly how much money will be coming in for a fixed period of time (typically 3 or 6 months).
The investment of starting your own business also lies in the time it will take you to choose between all that are available, and once you have made your decision, there is the start-up cost and monthly maintenance expenses. The upside is that with a good coach and business-building system, your investment can be very quickly generated and you will probably start making net profits by the end of the period an internship lasts (often 3 months).
As an example, you can use the revenues described on this page of our website.
No matter what salary any internship can give you, you will find that the short, medium and long-term revenues from owning your own business exceed it by far.
Now about the experience factor. An internship will certainly give you experience, but it is usually the skills necessary to work for someone else. And almost never will that include how to elegantly pick yourself up after a mistake, how to stand out by creating real added value, or how to be a manager. So even if you have already decided that the career path that best suits you is to work for someone else, you still receive a greater benefit from owning your own business, at least once in your life. And it is much better to do it as soon as possible.
Owning your own business will give you a dazzling array of skills and experiences, which are always better integrated by having the responsibility of the business’ success in your hands. One of the most important ones is certainly how to sell, because in life everything is about selling ideas, concepts, opinions, and yourself! The lawyer has to sell his client’s point of view to the judge, the job applicant has to sell himself to the employer, and the husband has to sell his choice (of movie, restaurant, car, house, trip…) to his wife. And another very important skill practiced through owing your own business is efficient communication. No need to explain how that one also impacts everyday of your personal and professional life.
So, unless you are terrified of being your own boss, no matter how you look at it, the time, energy and financial investments of starting your own business pales in comparison with the experience and financial revenues that are guaranteed to come from it.
For more in depth and detailed information, Phoenix Alliance offers a FREE specialized «How To Do It All: Business, School, Work, Family» seminar to its registered members.
Interesting outside link: «Don’t get an internship. Start a business.»
