If you’re an entrepreneur or an aspiring entrepreneur, what kind of entrepreneur would you want to be, given the following three choices, and assuming your financial compensation would be the same regardless of your choice?
1. Big business. You start a business and grow it to 1,000+ employees and $250M+ in revenue as the CEO.
2. Small business. You start a business but keep it under 50 employees and $20M.
3. Smaller business. Your business employs less than 20 employees and revenues in the sub-$5M range.
4. Mobile business. Your business has no full time employees other than yourself, utilizing only contractors for additional work, when necessary. Your revenues are in the sub $1M range.
Obviously it’s pointless to say “all other things being equal” when comparing these scenarios, because all other things could never be equal. Scenario #4 means you can probably work from home in your underwear, whereas #1 would likely not afford you that luxury. However, #1 means you’d be affecting the lives of thousands of people, you’d be in magazines, you’d be a move and a shaker and would have lots of influence in areas both in and outside of the business world. Each scenario would have its trade offs, so which would you choose? Again, assuming that your financial compensation were the one thing that wouldn’t change. You might make $250K at the mobile business but you’d make the same if you ran the big business.