If you don’t build your dreams, someone else will hire you to build theirs.
Talent is nothing without an opportunity, they say. Among other confusions, the biggest one is – job vs. business.
Joining as a boss or joining a boss are two completely different stories; it is not a matter of lifestyle changes, but complete mindset amendments are required. The qualities that I have, where I can get them cashed to the fullest; at a job or in a business?
Entrepreneurship is not everyone’s cup of tea. It is an old school management theory – higher the risk and higher the profit. But, before choosing, one needs to ask himself a few questions and should he have all the answers on him, then choosing a path will be much easier. Let us talk about those a few questions.
1Freedom and Self-Motivation
Be it a job or business, you have to give up your freedom to an extent. However, in the case of business, this degree is higher. You cannot imagine long breaks from the business, though you can expect the same while working for someone else.
Out of sight means out of business and out of business means out of the market. Also, do you think you can motivate yourself? Do you think you can analyze your own work and be a criticizer of your own?
When you are in a job, your boss evaluates your work and improves you for his business as he finds best. But, in the case of a business, it is only you who will be ameliorating himself. Being a business owner, you will be your only motivation.
Do you think you can make yourself do every that little thing that otherwise you will be ignored for sure, when in the job? It is about self-discipline, self-control, and self-improvement.
Indisputably, to the date, the biggest motivation behind any work is always – A Paycheck. Should you be in a business or job, if you are not generating good returns on your investments, then there is no use of dumping your efforts and resources.
The major difference between doing a business or working for a business in this concern is – unlike an employee, a business has to generate its own paychecks, taxes, retirements plans, insurance, and others.
In addition, the amount you’re going to earn is never a fixed figure; could be beyond your expectations in either direction (up or down). Whereas, if you are working for someone, you will be getting a regular pay, but fixed with predefined increment policies. All you need to do is – work and rest everything is completely not your headache.
Business is all about investment, be it is about investing time, investing relationships, investing efforts, investing sleepless nights, or investing money. Do you have the required savings and earnings that you will be pouring in as an investment?
And, just a polite reminder: this investment is not a one-time process. Do you have the required backups because no business makes money while on its baby steps; it takes time.
Initial Investment is the key; should you have that key to this first door, you can then proceed with your dream of running a business. I don’t need to tell you that a business can eat all your savings whereas while working for someone, the only risk is – loss of money for the period until one finds a new job in case he loses his existing job.
4Dependence or Independence
What is your mindset? Do you think you can manage tasks of your own or you need advisers at every step? In simpler terms, are you an instruction maker or instruction taker? What do you enjoy the most?
Do you have those most required – decision-making capabilities? If you as a person love to take challenges, if you are someone who can work out his own working and responsibility schedules; then only you should go with a business.
But, if you are the one who loves to follow instructions, who only works with the support of others, and always want to stay at a fair distance from any sort of extra stress, you better be an employee.
Winston Churchill once said, “To improve is to change; to be perfect is to change often.”Do you have the courage to change your plans?”
Generally speaking, when it is about business, it is all always long-term goals and when it is about the job, it is always short-term plans. What sort of plans do you have? For long-term plan means a well-thought business plan is a must.
Do you have that courage and acumen for making reliable plans? Do you think you can plan well? Do you think you can come up with a long-term, but a productive plan? Again, it is a question of mindset; thinking plays the role.
Ask yourself, do you want to work for your own dream or someone’ dream and in terms of the plan, what all you got?
Are you wise enough to manage your money or not? Business is all about saving every single penny and reinvesting it as and when required. Unlike a job, in business, it is you who has to take care of every debit and credit because everything counts.
Certainly, business is full of ups and downs, whereas job has no such rough rides. Moreover, businesses are much more concerned about all their employees’ salaries and other expenses and comparatively, employees are only concerned with their profit and loss.
Ask yourself, are you ready to do everything that it takes to build a successful business? Do you think, you can allow yourself with a smile while you are under a huge amount of stress?
7Professional worth & Your Measuring Scale for Success
Be it business or job, you must first check your worth? Unless you know what your professional worth is, you won’t be able to choose the right path. The most important question that you need to ask yourself is – what is your barometer of success and how are you going to use that when given a chance?
ALSO READ – How To Overcome Pessimistic Thoughts
Do you think money earned, and/or recognition received are two parameters of success? You need to answer yourself on this question. Without a proper definition of success, solving this mystery between job and business is not going to easy.
Now that you know what questions you need answers to before choosing your path, I believe you can now decide easily. In a nutshell, it is all about mindset and beside educational degrees, some inbuilt qualities/skills like leadership and entrepreneurship are equally important.