Before we jump there why don’t you answer me which is the best-suited Laptop for me? Not sure?
Alright, answer me this, which is the best dish on the planet? Pizza? I can make you meet at least 10 people in my network who just hate pizza like they hate their ex-boyfriend who cheated on her.
The point is that the question is very generic, it really depends on your taste. In the same way, “what is better” really depends on what are your preferences.
Comparing Business and Job:
Running a Business is far bigger than being in a job. In a job, no matter what kind of work you do you are always getting betting in 1 direction which increases your chances of getting rehired even if you lose a job. As a business owner, you will spend time learning multiple things, plus the employers will be skeptical after seeing a business written on your profile. You can be kicked out of a job and yet find a new job and you can lose your business overnight and starting new or finding a job will be a nightmare. Job is better than Business
There is no limit on how much and how fast you can earn as a Business owner. Whereas in Job you will have to wait for a certain time period for taking the next hike, no matter how good you are. Hence, Business is better than job.
It will take years of effort to establish a successful business and to form the right team. It will also take years to climb the ladder and become a top executive in a job. However, in business you will have to make much more compromises, sacrifices, giving up on things, strong will, pressure, and tension. Job is easier than a Business
It is true that after a certain time period there is no one freer than a boss. Nonetheless, by the time you reach that stage, you would hate being free and being free will come at the cost of loss or slow down of business. For an employee, they can be busy or free based on their management and abilities to handle client and manager. Job is better than Business
Boss has way-way too much responsibility then anyone in the company. They have to manage, clients, employees, expenses, processes, and a thousand other things. A good employee considers himself as the owner of the work assigned to him; hence he takes the responsibility off the manager’s shoulder. Job has less responsibilities compared to Business owner.
It is again subjective, but as an employee, you would learn how to be great in what you do. And as a boss, you will learn about many different aspects of life.
Business Man’s life is much more hectic and chaotic with a lot more stress. Employees generally have a better life than a business owner.
A successful business is much more secure than a successful employee. However, as per the current statistics, only 10% of the businesses are able to survive after 3 years of starting. Hence you can do the maths.
It is tough for a boss to switch to job majorly for 2 reasons. First that he is not proficient in any 1 of the skill for which he can be hired at a senior position; Second, he is always either over qualified or under qualified; Thirdly, cause there is always insecurity in the mind of the employer with regards to the future. Easier to switch in Job than in Business
As per the studies it is claimed that 80% of the working individuals are not satisfied with their job. Satisfaction could also be of varying magnitude and reasons. You will be dependent on the company and your past experiences to define what work you do. Where are a business owner will 80% of the times be satisfied with the work he is doing since he has the freedom to choose. Business is better than the job.
A 40-Year-old Harry doesn’t want the same thing as the 10-Year-old Harry:
To understand what would suit you the best you need to first figure out your preferences. Below are some attributes on how you should define BETTER:
- Intellectual growth
- Personal Growth
- Impact on the world
- Personal Attitude
- Passion and the list goes on.
All the above-mentioned attributes will differ between a Job and a Business. Everything has its pros and its cons. Hence you should be aware of the decisions you make. However, the one thing that really matters is “Where you are and what you are doing?”
You can’t judge a fish with their ability to climb a tree
Before we jump to any conclusion, let’s simplify this with an Example. First, we will talk about expectations and then about the difference between JOB and BUSINESS :
There are 2 people Jim and Ted:
- Jim is someone who likes meeting new people, exploring new things, experimenting, and learning new skills.
- Ted is someone who likes his comfort zone and is very calculative with the risks he takes. He generally doesn’t experiment a lot and likes things to be steady.
There are 2 Jobs:
- Job A: Which offers a great package, great work culture, good security, great growth but the person has to stick to his desk and has to work on 1 technology/skill for next 5 years.
- Job B: It also offers all the same facilities as the Job A but the person has to keep upgrading and learning technology with time.
Now, what do you think, which job is better? Well, both are great jobs.
In this case Job A is much BETTER for Ted and Job B is much BETTER suited for Jim, hence there is no hard line. You switch their positions and there are good chances that you will end up with a broken screen.
Now coming to your question of whether Job is better or a Business:
Employees life is very much like JOB A, there is less risk and you have lot of time to make mistakes and learn without losing much. And business is much like JOB B where you have to keep learning and upgrading, with an added risk that you make one mistake and you could lose it all. Hence the possibility of a Ted starting a business is much higher than of Jim.
Questions you should ask yourself:
- Does the work you are doing satisfies you?
- With the way the world is moving forward in your domain, does your knowledge safeguards your future?
- Do you have sufficient financial growth?
- If not financial growth then are you learning things that will be in high demand in the future?
Things that should not matter:
- What position your college mate is at?
- Salary of your friends?
- Amount of money is your boss making on your effort?
- How should you pull someone else down to raise yourself?
- What is the shortcut?
To conclude here is my story:
I did 4 years job before starting my own business.
I was a complete nobody when I started my first job as a software developer in the top MNC. After 6 months, I got frustrated and wanted to quit I am type Ted. Soon I realized that if I have to make something of myself I can’t wait for it to just happen.
In the next 1 year, I learned the latest technology with had the best potential in the future, pro-actively developed some products which got appreciated at the global level. That really accelerated my growth, I got recognition and a fat package.
After rejecting an offer to move out of the country. Since job life was secure, I tried experimenting, I moved into sales domain because I enjoyed listening to new ideas and brainstorming to make it market fit. IT field was my choice because I understood the tech very well.
For the next 2 years, I worked my A** off and got some great results raised the company revenue to 200% while introducing them to a new line of business. It was like my own company and I just wanted to drive it at its full potentials.
It felt like being the King of the company and yet I quitted the job because it wasn’t satisfying with their practices, ethics and the speed of growth. A company which was working on the latest technology with the right ethics and was not afraid to try new things is what I was looking for.
After a lot of search and effort I gave up on the idea but I knew what I wanted, so I started my own company Graffersid.com where I hired people with mindset much bigger and stronger than mine.
The only thing that matters is your current satisfaction and your long term stability. Rest all is just noise.
Hope that helps !!