Ask any youth about his or her choice of career, and most will come up with an idea of starting their own company, as apparently no one likes to be bossed around. However, as we generally see most of us end up working in a corporate environment and are pretty happy about it. So which is better in the end? Is steady employment the best bet or going for your own business a better prospect?This post is about the same.
One of your friends leaves his well settled job and gives a shot to his business idea, forming his own company. One year past, he has four employees working for him, and he seems to be doing pretty good for himself. This is actually where it all starts for most of us. This is how we all start dreaming of starting our business, boarding the startup ship. However, what might have worked out as the right choice for your friend might be a wrong choice for you. For every successful startup out there, there are 10 failed startups. So how do you be certain that whether you should have your own company or be in steady employment?
Why own Business is better than Job : Entrepreneurship
When you start your own enterprise, you are technically qualified for being called as an entrepreneur. Self-employment, starting your own business or taking on an existing business to expand it and reenergize it, all are manifestations of entrepreneurship. How entrepreneurs are different from employed individuals?
- You love making decision
Business persons have this incredible opportunity to create something out of nothing, such as jobs for others, which is definitely not possible for someone working for a company. However, this is not possible without some tough decision making about what must be done and when. You can’t wait for things to happen or rest the responsibility on someone else’s shoulder if something goes wrong. In a nutshell, you are responsible for all decisions-good or bad.
- You love taking risks
By starting your own business you are essentially ditching the tried and tested way of earning money. Most startups and first time businesspersons are programmed to fail and this has to be bear in mind while taking the path of entrepreneurship. So if you are used to safe-money, may be working in a steady employment is a better option for you.
- You love thriving under challenges
An employee is more inclined to think inside the box instead of inside it. For an entrepreneur there are no limits and no box. Your mind wanders in horizons where others dare not venture; you love challenges and give your best under high pressure situations. You have a thick skin and the ability to keep going despite all the rejection and criticism.
Entrepreneurship is more about the mindset than anything else. The thinking pattern you have acquired during years of growing up will play a major role in setting the stage for a successful or a not-so-successful run as an entrepreneur. While running your own business might give you some extra freedom, control and money but an office environment has its own set of advantages. So it’s not entirely true that a business is better than a job.
Why Job is better than own Business :
Here are some occasions where a job might just be a better option than running a business:
- You love work-life balance
A person running his own startup is on the job all the time. He has to continuously monitor the performance of his services and products and be ready for customer or client feedback, anytime of the day or night, as a matter of fact. Instead, in a job you have the cushion of an organization, or a higher management or a colleague who can take care of the matter when you are busy with your loved ones at home.
- You love the security of your monthly salary
While a business owner might be the one calling shots when it comes to earning potential, but if you are in a multinational, in an industry that is absolutely booming, then there is no reason to doubt that your income will out-earn a business owner’s. For instance, an investment banker makes more money annually than the annual turnover of most startups in their first couple of years. Besides, who doesn’t like the security and comfort of their monthly paychecks even if their performance wasn’t up to the mark that month?
- You love the office camaraderie
An office setup has a very alluring and addictive taste to it. Sometimes you will find yourself working in a company for years despite not having an iota of interest in the work that you are doing. This is only because you love the environment of your office and have become used to it. Besides, an office offers several opportunities to connect with different kind of professionals, know them and network with them. An entrepreneur surely misses out on some of such opportunities.
Bottom-line: No one profession or career path is good or bad for everyone. It’s definitely easy to start a job than a business. There are many job vacancies to apply to, all kinds of companies offering different types of steady employment opportunities. Even if one doesn’t like an office job there is an option to start an online job. However, the fruits of a successful business are always sweeter than that of a job’s. Everybody should play to his own strengths and weaknesses, and the same applies when making a choice between a job and a business.
Feel free to comment your views on own business VS steady job perception. Which is better your business or steady job ? Who are more richer Entrepreneurs or Employess ? Comment your views in the comment section. Stay Connected and Stay Updated.