I would like to say that having both can be really good. For someone who is starting their business, there can be several challenges. At one point they might even think of getting out of the business and start working for someone again. This is something that every business man gets. In order to make it easier for you, careful decisions should be made.
I would recommend doing both at initial stages and then later when you are well established with your business, you can stop working for someone. I have seen so many successful people who were successful because of this. I still see people who work in a private company and still own a business. They won't be running the business legally under their name but they will manage almost everything in their business but the business will either be there in their father's name or mother's name.
The source of income that we get with the experience that we have from a job cannot be compared with the income that we get out of business. It can be in two extremes. Some people will not earn anything from their business in the initial days and for some people the income they get from business can be way to higher. But in both the situations if you are an employee in a different company, you have to take decision to whether continue working simultaneously with the employer and run a business as well or to just focus completely on the business alone.
If you consider security as one of the criteria, working for someone is always secure. Even if you don't have a job in that company, you will still have options to work in a different company and get the source of income. But if you run a business you will not only be accountable for your family but you will also have to take care of the employees you have in your business. The security part is quite challenging to handle because not all business can guarantee definite earning.
It depends on some factors of an individual's interest and needs. Both can be good for someone who wants to have a happier and healthier life while getting his daily job or company working everytime. For some employee who opted to be an employee, he/she might like to serve someone or pleasure him/her to serve someone but with the right payment for his/her work. He/She might be enjoying that because he/she has the rights skills for his/her job that provides gratification. While on the other hand, for someone who wants to build a company, he/she might have a vision of serving a whole community by establishing a profitable and helpful company. He/She might have a dream or philanthropic idea that will help every workers working for his/her company.
If you are choosing from the two, go back to your personal attributes on how you can handle the stress you can acquire from either the two. I cannot say that one of them gives much more stress than the other. Also, consider your needs in money and your time availability for some things like yourself, your family and to some random things. Hope that helps!
I that the best way is ti create your own business. However I don't think that anyone reading this and start his own business will succeed. There are people who are simply "made for" being businessmen and know how to make this things work and people that don't.
Being a businessman is a whole different thing than being a simple employee. You will have much more responsibility when having your own business than what you had when you were working for someone, way more stress and you will need to spend way more time and work to make that business a success than you were by simply going to works.
When you are a simple employee you have a fixed income, a fixed working time and sometime also fixed tasks and that's it. You go to your working place, you do your job and you go home. If the company "falls apart" you will hire yourself elsewhere.
You don't carry the burden of a business at home and "you don't sleep in bed" with your job. If you feel like you can prove responsibility and that you could manage a business feel free to do that and you will probably become wealthier and change your life but you have to put into balance at first the pros and cons of a businessman and of an employee and see if you could make it.
Some people are made to be businessmen and some are made to be employees. You will have to choose wise because they're not alike at all. I do think that being a businessman is better than an employee but that's my opinion.
Both are good as long as you are enjoying it. I think one should do a SWOT(Strength, Weakness, Opportunity, threat) analysis of his own to know which area is better for you and you can excel. Knowing about your strength makes the easy selection of a profession and you can also excel in that field and will feel satisfied also.
Job satisfaction is always important otherwise after some year, it will backfire and you may take an irrational decision if you are not satisfied with your profession or you do not love your profession.
Evaluate your area of interest and match those interest with your strength and if it matches properly then you can assume that you can do well in that field and it will be a comfortable and satisfying profession for you.
Business is also good but for that you need some more resources than being salaried employee, but in Business you will have better margin in terms of managing your working environment and you will be at the liberty on decision making and time management and at least you will feel like you are your own boss and that is best part of business but the challenge is always there, so your model of business should be sustainable and resilient enough to sustain the adverse situation.
I tried both. I used to work in a private company for more than a decade. And I am also able to have my own business. So I can better differentiate the advantages of being an employee and that of a businessman/businesswoman.
When I had my business of course I became my own boss. I made decisions, run the daily operations, pay bills and all. It did not come smooth and easy. It has its moments. Sometimes I just want to give-up and quit, and turn my back to business and return to being an employee. But every time I think of surrendering I just could not give up my freedom. I am no longer confined to an eight-hour work and in the four corners of my cubicle. I can do almost whatever I want. When you are the boss you get to decide as to the direction you want to take your business to. It develops your business and decision making skills, analytical and critical thinking skills among others. But you also have to be prepared to accept some setbacks. It's not all a bed of roses. You need to come up with enough capital for your desired business. You need to study and learn as much as possible about your business. Learning the rope to success is never easy but worth all the sacrifices. Plus with your business you open the opportunity for other people to earn a living for themselves or for their family. You can maximize your potential profits and earn more than what you can generate when you are a working employee.
I think you need to experience both to succeed. Working for someone gives you the knowledge over time to grow and learn what it is all about. Understanding what makes a business tick and learning the running of a business actually works.
Starting your own business is not easy and takes time to get established. Most businesses take more than 10 years to become stable. Knowing your market and your customers is key. By having learnt what is good and bad in business working for someone else you should have enough knowledge to succeed.
Some people are just made for working for themselves as they are normally self driven individuals. It will be more financial rewarding and self rewarding doing your own business.
When you are working for someone else you are helping to make them richer and you may be lucky to benefit. This isn't guaranteed though whereas if it was yours you would reap the rewards.
It depends upon your ability, your efforts and skills. Honestly speaking own business is the best option as you are not answerable to any one. All your pain and hard work transform into business growth. The more sugar you will add the sweeter it will be. On the other hand working for some one will never give you such rewards which your effort deserve. So it is not a good idea to do work or other if you are committed to work hard with dedication and skill. Although it's risky to furnish successful business but you have to take risk. The higher the risk the higher the reward
It is by far the best to create your own business.
Let me explain (a bit simplified, I know, but still very much true!):
In your own business, your cost is your worth, and is what you earn.
If you work for someone else, what your earn is your cost. But the one you’re working for wants his share of your worth too, otherwise there is no benefit for him. And the bigger the company you work for, the higher the cost of letting you work, which also has to be added to the equiation, so making you earn less than your worth.
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Ofcourse the better is **Create your own business**, But, you need full preparation.
By creating your own business, at least we can have more time to spend with our beloved family. However, there are some things that must be prepared carefully, so you don't have to go back to your job again.
IDE and Research
The most important thing for the first time before you leave your job is IDE. Approximately, what business will run for a long time, and can be developed quickly?
After getting it, you must do Research. This can be related to strategic places, superior products, promotions, etc. This must be done carefully and should not be rushed.
Capital and Deposits
When you want to have your own business, the next most important thing is venture capital, AND !!! > SAVINGS <.
Capital is enough to make a business, but as a guarantee you will not be miserable when a short-term bankruptcy occurs, you need savings. Because of this, it must also be considered carefully.
Don't Forget Investment
Before / after making a business, don't forget the most important factor is "INVESTMENT". This investment can vary, ranging from physical investment to digital. But broadly speaking, only select investments with the risks that you can receive.
If I had required resources and opportunities I would love to start my own business.
While Working for someone you can get only limited amount of money while I having own business the more you put your efforts the more you will get.
In business you can implement your own decisions but in job you can only give suggestions.
It depends on the individual concerned.Some are content with a good day's work and do not want to concern themselves on the intricacies of managing a business as long as their salaries keeps on coming while for others creating a business can be as a result of several factors one of which is to supplement their main income,as a result of unemployment or they don't like the idea of working in a system.That said i would prefer to create my own business and hope it prospers.
In many cases, depending of the the type of business, having both is an advantage.
Since there are types of business that doesn't require your full attention to it, where you can monitor or track the business through online and doesn't require a hands on approach to it, then it would boost your income if you are earning from both.
There are also types of business that has a down time, the kind that go by season and not for the entire year, then it's also a good option to be employed while running your business at the same time. It will also maximise your earnings all year round.
So to reiterate, at this modern age, it will be a good option or necessary at least to have a multiple source of income. We have all the tools that could assist us in accomplishing multiple tasks simultaneously and easily. We just need to have the determination to succeed.