Many people don’t have a clear understanding of what is better between a job and a business, which of these will help them to prosper in life, to achieve great success? Everyone who prefers self-employment studies personal development, who has managerial-organizational skills mentions that businesses are always better than jobs. Doing a job means working for someone, having a boss who in many cases involuntarily limits the independence of the activity in the work environment. Whether your boss gains a high profit or not, you will receive a pre-determined salary. But running a business means you are becoming the boss of your business, setting the policy, direction, and priorities of your activity, and also you can choose your workload, level of profit you need to earn.
For many business owners, running their own company makes them feel liberated, excited and gives them a profound sense of achievement. However, working for someone else’s company also has its perks, like job security, fewer financial concerns, and stability.
If you’re considering going solo but are unsure if it will create the right lifestyle for you, then we’ve chalked up some pros and cons of running your own business vs working for someone else’s, to offer a helping hand in making that big decision.
Let’s try to compare job and business!
A “job” is a term used to describe a person working under someone following upper-level orders. If you are in a higher job position, you can order employees working under you but still doing a job; there will always be someone ordering you too, i.e. Boss.
An organization established is a business entity either banking, industrial, or technological operations. If you own one, then you are the Boss; you are at the top-level that orders everyone else in the business along with bearing all the risks.
Working under someone else has always felt like a restriction. However, when you are out there, setting up your own business, you are the in-charge. This point itself is a boon in disguise. It gives you the freedom to choose and make a decision of your choice. It also lifts off the barriers of restriction from you.
Moreover, being your own boss means that you can run the business with your own strategies without much ado about it. This also gives the elasticity to choose your own working hours. In addition, you also have the freedom to enjoy family matters whenever it is required.
Your own business gives you the freedom to take a holiday when needed. You have no one above you to ask for leave. However, at times of need, you would need to work extra hours with no extra pay. Thus, you will have to work extra and manage everything accordingly
As an employee, you are aware of your annual income along with a little increment on your successful tries. Unless you get a promotion, your salary is stagnant. However, when owning a business you have the potential to earn more depending upon how you work and run the business. You might handle your own pricing and marketing strategies and set your own profit bar. This promises a lucrative income as long as the business is running.
Usually, jobs are safer, more secure, and risk-free method because whatever happens, you can receive the salary, earn some certain money on time doing a job.
Businesses, on the other hand, are the polar opposite of that. The amount of money you make is only determined by your efforts, plans, and abilities. It’s possible that you won’t be able to win even a single coin. It usually takes time to get successful when doing business, because you have to face many ups and downs, also a business can be equals to long-term investment. So businesses have more risks than jobs. But that doesn’t mean you have to do a job to avoid risks. It all depends on your attitudes, skills, commitment, and financial situation.
If you are doing a job, your responsibility is limited only to your task. For example, you are a coder, you have an obligation to maintain/develop the code you are responsible for. You don’t have to care about the company’s financials, marketing, sales, HR, etc.
If you are running a business you are responsible for all your team members and employees, your customers, business partners, etc. You are no longer accountable only for your task – you have to ensure that «everything» is fine. Becoming your own «boss» comes with a lot more baggage than you think.
Before starting any business first, you have to set up a capital that can take the load of all the planning that you have done. Starting with the area of work to the employees, you have to manage everything. Thus, you have to build capital. Taking a loan for these capitals may also come off as risky, because the start of your business may not always begin with profit. It is a risky task to manage financial burdens without any backup plans.
We can make long comparisons, but we must understand that we are the most important player in our success. And if we want to prosper, we must first be competitive, smart, and flexible. It is impossible to say unequivocally that doing business is more profitable because there are many unlucky businessmen around us, on the contrary, many employees who have achieved great success do not imagine themselves outside their company.
Nowadays you can find many interesting, high-paying jobs, you can be creative, start your own business, but the secret of thriving in life is a dedication to work and quality work.