Both sides have equal supporters when it comes to choosing between a job and a business. But in the present scenario, we have seen an increase in the preference for jobs. Launching and running a business is not an easy task, it will always be a challenging task as it needs practical knowledge and exposure to set up and run a business. You have to take uncountable risks in a business every day.
The debate on this topic will never end, every person has his/her own preferences. Some people love to do a job while some prefer not to work under someone and be their own boss. Eventually, you should choose where you find happiness.
Let’s take a look and understand the process of a business and a job.
picture credits:- Justin hall comis
PROCESS OF A BUSINESS
It is a dream that comes true if you own a successful business. Undoubtedly, a business gives you more opportunities than a job. But if you want to start a business you need a good amount of investment, and for that, you can either arrange the investment on your own or can do it through a partnership. Losses and success completely depend upon you and your working capabilities. By setting a business you will be providing job opportunities to others and contributing to the overall development of the economy.
From an early age, some think of going to an MNC and working in a 9-5 job. This schedule is great for you if you need consistency. A job always helps you to understand, learn and explore new things. It is a safe and sound option. Some people love doing a job as they consider this a more trustworthy work. Having a job gives you a constant income and you can relax during weekends.
ADVANTAGES OF A BUSINESS
Starting a business from the ground has both advantages as well as disadvantages. The one who commences a business can develop, plan, create, direct, and operate things on their own.
Here are some advantages of starting a business.
- Be your own boss: You can take your own decisions as you are the in-charge of your business. You don’t have to answer anyone. You can also decide your working hours and can enjoy with your family and friends whenever you want.
- You know your worth: If you are a person who works hard for your business, you will eventually know what you are up to. What you are doing will have an impact on your business and your hard work will pay off one day.
- Freedom: As you are not answerable to anyone, you can do anything to take your business to heights. You can create, design, and build whatever you want. You can also get your financial freedom.
- No one can fire you: You are your own boss so no one can fire you. In a job there is no guarantee, you can get kicked depending on your performance. But, here you don’t need to worry about this.
- Exposure: As a business owner you are involved in each and every aspect of your business and that will surely help you to understand everything and will, therefore, give you enough exposure.
DISADVANTAGES OF A BUSINESS
There are also a number of potential risks and disadvantages involved if you plan to run a business. Here are some of them:
- Big Competitors: You may spend all the time, money, and efforts on your business but if a big competitor targets your consumers and offers them alike products/services at low cost, your business may fail.
- Risky: A business idea brings with itself too many risks and challenges. Starting a business comes with a risk, the risk of losing all your investment, time, and money if it fails.
- Income: Running a business has never been easy. When you start a business, you never know when your business will start reaping profits. You may also face losses on a continuous basis and can become bankrupt.
- Overtime work: As a business person, you have the freedom to take leaves, but sometimes you may have to work all day without getting any extra pay for it. You have to manage everything according to the situation.
ADVANTAGES OF A JOB
A job has both benefits and some drawbacks. Here are some advantages:
- Security: You can get security if you are in a job and it is somehow the most prominent reason behind people opting to do a job. In case, if you lose your job you can get another job as well.
- Exposure: Employees get exposure to various positions inside the same department. Moreover, companies are the best platform to develop strong business connections.
- You can get a bonus: The best thing about doing a job is you can get more incentives and bonuses. It all depends on the targets and your working ability. This gives you the motivation to put in more effort in your work.
- Handling projects: Handling projects help you to build your leadership and teamwork skills. A good project handling may lead to promotion and recognition in the company.
DISADVANTAGES OF A JOB
Here are some disadvantages of doing a job.
- Control: You cannot get control over the work. You can not pick the staff, your retirement plan, working hours, vacations, or anything. You have to do what you are directed to do. You have to be answerable to your management and higher authorities.
- No Decision Making: Even if you have an excellent idea for a project, you cannot decide to apply it. All the decisions would be taken by your boss. You can lack in the decision-making process as it is a vast process and needs several permissions.
- Payment issues: This is one of the main drawbacks of doing a job. If you decide to do a job, there are chances that sometimes you don’t get your salary on time.
The only thing that matters at the end is how satisfied you are and what brings you long-term stability. Decide wisely what option suits you best!