Job vs Business, What to Choose?
Modern economic systems around the world now adopt the notion of “smart work” instead of “hard work”. This does not deny the importance of hard work but emphasizes more on smart work due to digital globalization and higher competition. The commercialization and marketing skills and tools available now makes it more difficult for corporates to achieve “success” because of extreme competition. But at the same time, it is now a lot more robust to commercialize and get attention. Apart from all the success achieved by the jobs and business sectors, the world is still facing an economic crisis. This makes it more perplexed to choose between “a job” and “a business”. Following are the factors which are the deciders for the “job vs business” war.
1) Mindset
The first road bump in selecting between a job and a business is an individual’s mindset or attitude towards both. The personality traits of a person define whether he would like to be hired by someone or want to be independent of a boss. Many people are afraid of starting their work or business independently. They find it more practical and comfortable to work under someone’s supervision. While some persons have other sets of qualities that enable them to take risks and do experiments. They want their own independent setup of some work to earn. There are also some pre-conformed notions (good or bad) about job vs business in societies and cultural strata. People choose to do a job or their business on the basis of approval from their families, societies, and cultures.
2) Education, Entrepreneurship and Skills
The educational and technical degrees offered around the world set up a mark or destination for the students in the future. Most of the graduates (in any discipline) make themselves confined to the niche in which they got their degree. Only a few of those focuses on entrepreneurship and business studies while a majority of the courses lead their path to becoming an employee. Entrepreneurship has emerged as a major discipline in higher educational institutes that equip students to create startups. But still, it does not limit some persons to their area of education only and they explore beyond horizon.
A person with non-business education can also be a successful businessman and a person with business studies may prefer to get a job. A certain set of skills also play an important role while playing the game between job and business. People who select either one with knowing their strengths and shortcomings happen to be more successful in their position.
3) Financial Capacity
The financial conditions of a person also have a major share in deciding between a job and a business. A person who prefers owning a business over a corporate job might not have enough investment to start with. He would be more likely to go to the job sector until he saves much amount for his startup. But having a lot of money does not guarantee that a person will go for his business. In reality, most of the successful businessmen had started from scratch. The people of this time demand some big chunk of money for their startups, which have to be fulfilled by governments.
4) Government Policies and Opportunities
Every government of the developed nations has a certain set of instructions and policies about jobs and businesses. A person who wants to do a job has financial security and the same goes for a businessman. The people of developed countries do not deal with financial and policy issues in the war between a job vs business. The under-developed and poor countries always face issues of their non-existing or unclear governmental policies. Both, the jobs and the businesses, have not governmental support and security. This makes the masses of those countries more confused and insecure in choosing between those two. The governments are responsible for providing job and business opportunities. Failing in establishing a structure for business and job regulations leads to corruption and making the country poorer.
Pros and Cons (Job vs Business)
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Jobs
Pros:
A person with a job does not have the fear of losing his investment. Jobs offer more dynamic working conditions like flexible working hours, different tasks, assignments, and responsibilities. Most of the jobs have fixed hours of working that make them capable of managing other life matters easily. The job also provides a sense of security as it provides a fixed amount to the job holder. It also provides some added benefits like bonuses, increments, and insurance. Job holders also get vacations that are paid, so that means one enjoys his vacation without fear of income at a halt. They also get promotions after a certain time period.
Cons:
Job hunting is a very tedious process. The companies look for more experienced and competitive workmen which makes it difficult to get a job. In any job, one has to follow rules set by the boss or head of the authority. And the nuisance of politics in any office among workers to get recognized and appreciated (both verbally and financially) is still present. The jobs may provide the limited potential for growth and opportunities in life. There is also always trouble in switching between jobs.
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Business
Pros:
The biggest advantage of owning a business that you do not have to take orders from anyone, and you are your own boss. This gives freedom in making choices and decisions. You can set your own limitations or expand your limits. When you own a business, you provide job opportunities to others. You enjoy more of your authority, personal space, and profits. And above all, “No One Can Fire you”.
Cons:
The biggest hurdle in starting a business is the availability of some investment. After that, the businesses are prone to huge losses at any time, which might turn lethal for businesses’ survival. But at the same time, one has to take big risks if he wants to earn a big chunk of profits. So this always needs a big bank balance and a big heart. Businesses demand much focus and attention to deal with multiple things going on simultaneously. There is also no fixed income at the end of the month, so it could be less or more from expectation.
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