Job vs Business: Which is the Best Fit for You?

It is normal to hear from entrepreneurs and business enthusiasts that:

·        It would be best if you quit your day job

·        Fire your boss

·        Upgrade and Work for yourself

·        Live the life that you want

·        Make your own decisions

·        Take control of your life by Yourself

·        and the list continuous

While I am a high supporter of entrepreneurship, I cannot say it's for everyone, and there is nothing wrong with that. There are advantages to each: starting a business and having a job. Maybe a job could work better for you in one timeframe of your life, and in another, a business could be the better option. At the end of this article, You will learn about the pros and cons of each: the employer and the entrepreneur. My goal is to help you to decide which is best for you.

Pros of a Job

·        You have a chain of command and boss that gives you the way

·        You commonly get the chance to focus on trade (accounting, marketing, administration, etc.)

·        You don't have any pressure on and off the office time

·        You are not held responsible for the jobs, Income, and well-being of yourself, your family, and other people's families.

·        The assumptions of the marketplace require you to give less, whereas many people expect business owners to provide gifts and much more.

·        You are going to work a set amount of time in exchange for a certain amount of money

·        There is often compensation package like healthcare, IRA grants and employer matches, education payment, the chance to buy shares of the related company, and travel or meal payment

·        Some jobs will enable you to travel and get more location freedom.

·        In the present time, you can work from home or in an office

·        You can do a job that is more capital-intensive than what you could afford in your own business

 

Cons of a Job

·        A lot of your work builds someone else's balance sheet

·        You usually tell your schedule or your task requirements

·        There's often less schedule and location flexibility

·        It's riskier because you give lots of your time towards one customer–more negligible diversification

·        Increasing automation and globalization are minimizing the job security

·        Employers are losing their interest (than in before generations) in paying more wages now that they can appoint offshore.

·        You Income is not going to fulfil all your dreams.

 

Pros of Starting a Business

·        After the business module is established, you can have and expect more time flexibility

·        Some of the businesses enable you location freedom also.

·        With a business system, you are building your balance sheet, and you can pass the asset on to your upcoming generations

·        Through business, you can help many people by offering different jobs, and a means to support their families and financial conditions.

·        You can express and improve your creativity through business-building

·        Setting up a business stimulates the economy

·        You can mentor many people and promote positive growth in an extraordinary way as an entrepreneur

·        You will be a professional solution maker.

·        You can put your model in place over time to take advantage of your time more and have more freedom later

·        It is less common to have a glass ceiling on your Income

·        There are lots of tax benefits

·        You learn different skills that can give you financial security, financial freedom, and financial confidence.

·        You need not worry about being fired by the company

 

Cons of Starting a Business

·        The business requires money upfront

·        The company involves time upfront

·        Businesses start like newborns where they're heavily dependent, then as they're trained, they become more and more solid and independent

·        As an entrepreneur, You have several bosses your employees, your customers, and your family.

·        You must increase your cash flow management knowledge because many people depend on you.

·        There are decrease and increase in finances (especially when starting).

·        You might become obsessed with watching your sales, checking on customers, or following up with employees, making it hard to disconnect and take a break.

 

My Recommendations if you are on the Fence

If you are getting confused about whether business or entrepreneurship is best for you, I would recommend you to check out two books:

·        Living Forward, written by Michael Hyatt

·        The Seven Habits of Highly Effective People written by Stephen Covey

Inside, they talk about "Beginning with the stop in mind" or planning of life. Overall, you want to take care of your relationship priorities, financial priorities, professional goals and plans, and where you use all of your time to get you in the life. After you have evaluated your goals, strategies, dreams, and where you want your final destination to be, it will be much easier to decide on the best vehicle to get you there, i.e. a job or a business.

Conclusion: a Job vs a Business?

We want to make sure that this article was helpful for you to make a decision. Leave your comment below for any kind of suggestion…..

And also mentioned, What are the advantages that I miss for a job and starting a business? What is your suggestion for someone trying to decide which is best for them? What is your experience with a job and starting a business?