As we enter the new year of 2023, many of us may be thinking about our career paths and considering whether to pursue a traditional job or start our own business. Both options have their pros and cons, and the decision ultimately depends on individual circumstances and goals. In this blog, we will explore the factors to consider when deciding between a job and a business, including financial stability, personal fulfillment, and long-term growth potential. Whether you’re a recent graduate, a seasoned professional, or simply looking to make a change, this guide will help you make an informed decision about your career path in 2023.
“Job vs Business”
Which is the best-suited Laptop for me why don’t you answer before we jump there? 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 (job vs business)” really depends on what are your preferences.
Undeniably, jobs versus business have become a persistent debate for over a decade.
Most people get stuck between them with regard to which path is the best in terms of personal and financial growth and, ideally, which one you go ahead with. Each has its pros and cons, hence it gets difficult to make the best decision.
If you’re baffled too and aren’t able to take a decisive decision, this article will enlighten you about what’s a job and business and which one should you choose.
- What is a Job?
- What is a Business?
- Comparing Job vs Business
- Benefits of Having a Jobs
- Provide an income for living
- It will increase your social status
- Develop skills and abilities
- Develop knowledge and understanding of the world
- Having a Job Helps to make connections and friends
- Build confidence and self-esteem
- Benefits of Starting Your Business
- Be your own boss and make your own decisions
- High Scope for Financial Independence
- Ability to Pursue Your Passions
- Opportunity to Create Jobs and Contribute
- Potential For Personal and Professional Growth
- Can You Have Both Jobs and a Small Business?
- What to do if you are confused Between Job and Business?
- Real Story (Job vs Business)
What is a Job?
A “job” is a full-time or part-time employment in which you cater to a job in lieu of money. A job can be of any kind based on your profession and the organization’s requirements or demand.
The main aspect of a job is that there’s always a person who’s superior to you and who assigns you the tasks, assesses your performance, and stipulates your salary.
In addition, a job is always backed by risk. Generally, no company or organization would fire you without any reason, but there’s always a factor of risk involved where you could get fired for any reason. However, you don’t have to worry about risk as whatever the repercussions are, you will always be compensated for your job.
What is a Business?
A business is a relative organization that is set up with a business goal where two or more people are involved to achieve a pre-defined goal. If you wish to kickstart your business, you can, but the success or failure of your business heavily relies on whom you choose to be your employees or subordinates.
If you’re a business owner, a greater number of responsibilities come on your shoulders as you have to take major decisions. You can delegate the responsibilities to your employees; hence, you’re the boss.
Comparing Job vs Business :
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, when you start a business you will have to 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 a job.
efforts will take years 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, and sacrifices, give up on things, and have strong will, pressure, and tension. Job is easier than a Business
It’s 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 the loss or slow down of business. An employee can be busy or free based on their management and abilities to handle clients and managers. Job is better than Business
Boss has way-way too much responsibility than 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 shoulders. Job has fewer responsibilities compared to Business owners.
Learning again is 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.
A business Man’s life is much more hectic and chaotic with a lot more stress. Employees generally have a better life than business owners.
A successful business is much more secure than a successful employee. However, as per the current statistics, only 20% of the businesses are able to survive after 2 years of starting. Hence you can do the maths.
First, it’s tough for a boss to switch to a job majorly for 2 reasons. 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 overqualified or underqualified; Third, cause there is always insecurity in the mind of the employer with regards to the future. Easier to switch in Job than to a Business
As per the studies it is claimed that 80% of 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 time be satisfied with the work he is doing since he has the freedom to choose. Business is better than a 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 in Job vs Business:
- Intellectual growth
- Personal Growth
- Impact on the world
- Personal Attitude
- Passion and the list go 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 by 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 vs BUSINESS:
Jim and Ted are 2 people :
- 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: This offers a great package, great work culture, good security, and great growth but the person has to stick to his desk and has to work on 1 technology/skill for the next 5 years.
- Job B: It also offers all the same facilities as 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 which is better Job vs Business:
Employees’ life is very much like JOB A, there is less risk and you have a 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 Ted starting a business is much higher than that of Jim.
Questions you should ask yourself :
- Does the work you are doing satisfy 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 (job vs business):
- What position your college mate is at?
- Salaries 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?
Common Difference Between Job vs Business
|Stability||Relatively stable income, with consistent working hours||Income is variable, with unpredictable working hours|
|Income potential||Limited to fixed salary or hourly wage||Unlimited potential to earn profits and grow the business|
|Control and autonomy||Limited control over work and decisions||Complete control over business operations and decisions|
|Risk||Low risk of financial loss or failure||High risk of financial loss or business failure|
|Time commitment||Fixed working hours with limited flexibility||Requires long hours and flexibility to run a successful business|
|Benefits and perks||Benefits such as health insurance, paid leave, and retirement plans||Benefits and perks are dependent on the success of the business|
|Career Advancement||Opportunities for promotions and salary increases within the company||Opportunities for growth and expansion of the business|
|Passion and fulfillment||May not align with personal interests and passions||Can be more fulfilling if it aligns with personal interests and passions|
|Skills and experience||May require specific education and training||Requires a combination of various skills and experience|
Benefits of Having a Jobs
A job is a good thing for many reasons, but it will be more beneficial to have a job because of the following benefits:
Provide an income for living: A job will help you earn an income to live on and it will provide an opportunity for you to contribute to your family’s financial needs. Having a well-income job will help you reach your full earning potential and the skills you acquire in a job can help to increase that earning power.
It will increase your social status: A job can be an excellent way to better yourself and attain things like a higher social status. This would not be possible without putting in the work and effort that are required from you, which can also grant improvements.
Develop skills and abilities: A job can help develop skills and abilities that are required for certain careers, in order to succeed in them. Learning from jobs is probably one of the easiest ways to develop skills and abilities because it’s all about working with other people who may be experts in their area. In addition, as you work you’ll see what works well and what doesn’t work so well, which will help you find your own style.
Develop knowledge and understanding of the world: A job provides opportunities to learn about the world around us, which is important because it helps us understand, appreciate, and grow from our experiences. Working in a workplace can help develop these skills by providing both personal and professional challenges that require us to solve problems that cannot be solved through self-study or without assistance.
Having a Job Helps to make connections and friends: We often think of jobs as a place where we work, but not where we make connections and friends. But this is no longer the case. These days we spend our office hours with people from around the world working in different time zones.
This brings new opportunities for us to forge relationships with people from all walks of life, cultures, and languages. Working in a global company can be rewarding for career development and for personal growth.
Build confidence and self-esteem: A job is a self-esteem booster, not just because it provides financial stability or the feeling of usefulness, but because it offers a sense of dignity. Jobs allow us to feel good about ourselves and our worth in society. This can be especially beneficial for those with mental health issues or depression.
There are many benefits associated with having a job. These include financial stability, feelings of usefulness, and self-esteem. For people with mental health issues or depression, jobs can be an especially important source of good feelings about themselves and their place in society.
Benefits of Starting Your Business
The benefits of starting your own business are not what you think. Sure, it takes a lot of hard work, dedication and determination. It also takes an entrepreneurial mindset and the ability to see opportunities where others see obstacles. But that doesn’t mean that there are no benefits to starting your own business. Quite the contrary, in fact! In this section, I will break down the benefits of starting your own business by discussing each one individually with a short explanation about why you might want to start a business in this area:
Earning Potential: There are many ways in which someone can earn income through owning their own company. The potential is always there to make more money than they do at their day job. This will provide them with financial stability and allow them to work on their passion projects as well as pursue other ambitions they may have while still being able to provide financially for themselves and their family members who depend on them for support.
Flexibility: Entrepreneurship is all about flexibility. People who own their own businesses have the ability to be as flexible or inflexible as they want. They are able to go into the office when they need to, take a few days off without making anyone else miss a day of work, and still make money! Not only that, but they can also work from home at times if they choose to do so and still make money.
Control: Owning your own company means you are in control of your destiny. You have the ability to work when you want and the option of working remotely if you want. You also have a great deal of control over what you do on a daily basis, which means they can take more time away from your day job as well if they so choose and still provide for their family members that depend on them.
Carbon Footprint: One difference between working for someone else and being an entrepreneur is that by owning their own company, entrepreneurs are able to take a more sustainable approach. With the ability to choose how they want to work, which hours they work, and how many hours in a day, they need or even if they need to work at all, entrepreneurs are able to find an alternative energy source for their company and take steps towards being sustainable.
Opportunity: Business owners have the opportunity to meet who they want and work with those people. They can form networks of relationships that could lead to success, but also fail miserably without a safety net of their own.
Individuality: Company owners have the opportunity to be unique individuals rather than just someone’s number 2 or 3. Not only does this give them more opportunities for what they do in their daily life, but it also means that they can set themselves apart from others by finding a niche that no one else has.
Change: After starting your business, one has the opportunity to take a risk and change their life. They can try new things, share their skills, and switch careers without losing everything they’ve worked so hard for.
Money: Usually business owners are typically in charge of the money they make, so they are in charge of their financial future. and the life they want to live. Happiness equals self-fulfillment, which is what entrepreneurs are aiming for. The single most important issue in the life of an entrepreneur is their ability to generate income by employing their skills and talents.
Achievement: Once company owners take on a project, there is no stopping them from achieving success. They will continue to work toward the goal even when it seems impossible to achieve. Procrastination is when someone does not start the task because the consequences are too high. However, this does not stop those who want to achieve something. They will put on their shoes and continue to work toward their goal even though it seems impossible to reach.
Can You Have Both Jobs and Small Business?
No, you can’t have both jobs and a small business. If you have a job, then you need to go to work. If you have a small business, then your time should be devoted to that. You can’t do both at the same time.
What is the Difference Between a 9-5 Job and a Small Business?
Most 9-5 jobs are stable and provide the employee with a set wage. On the other hand, small businesses are less stable and require that the owner take on more risk to make money. Small businesses have a higher opportunity for growth and expansion but they also come with high risks. The owner of a small business has to take on more responsibilities than an employee in terms of marketing, finance, operations, etc. A 9-5 job is a full-time job with set hours, while a small business is an endeavor that requires a lot of work and risks.
What to do if you are confused?
Start with a simple website. Any nice web development company like GraffersID can create a beautiful and attractive static landing page website for you that can engage your visitors and convert them to leads for you. Without investing much you will get a chance to test your skills in the real market.
A website will help showcase your idea to the world, and if you start generating a good number of inquiries then you know that you have something real in your hand. it will help you make a more informed and accurate decision. If you quit your job and directly start with the business and if for some reason the business fails then you would have lost too much, financially, monetarily, and with confidence.
Hence, I strongly recommend building a beautiful landing page website that very accurately describes what you do. This way you can still be on the job and experiment with your idea.
If you want a website built, get a free quote on our chat in the bottom right corner or drop an email from the contact us page.
To conclude here is my story (Job vs Business):
I did 4 years of 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 had the best potential in the future and 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. I tried experimenting as my job life was secure and moved into the sales domain. I even enjoyed listening to new ideas and brainstorming to make it market fit. The IT field was my choice because I understood tech very well.
For the next 2 years,
I worked my A** off and got some great results raising 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 to its full potential. It felt like being the King of the company and yet I quit the job because it wasn’t satisfying with their practices, ethics, and speed of growth. A company that 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, a web and app development company, where I hired people with mindsets much bigger and stronger than mine.
People Who Left Their job and become successful:
There are numerous successful businesspersons who left their jobs to pursue entrepreneurship and achieved great success. Here are a few notable examples:
- Bill Gates: Bill Gates dropped out of Harvard University to co-found Microsoft. Under his leadership, Microsoft became one of the most successful and influential technology companies in the world.
- Steve Jobs: Steve Jobs co-founded Apple Inc. but was initially ousted from the company in 1985. He returned to Apple in 1997 and played a pivotal role in transforming the company into a global leader in consumer electronics.
- Mark Zuckerberg: Mark Zuckerberg famously dropped out of Harvard University to focus on developing Facebook, which has since become one of the largest social media platforms worldwide.
- Richard Branson: Richard Branson left school at the age of 16 and started his own business, which eventually grew into the Virgin Group—a conglomerate comprising more than 400 companies in various industries.
- Elon Musk: Elon Musk, after co-founding Zip2 and X.com (which later became PayPal), left both ventures to pursue ambitious projects such as Tesla (electric vehicles), SpaceX (aerospace manufacturing), and Neuralink (neurotechnology).
- Oprah Winfrey: Oprah Winfrey left her job as a news anchor and started her own television talk show, “The Oprah Winfrey Show,” which became immensely popular. She went on to establish her media empire, including the Oprah Winfrey Network (OWN).
- Sara Blakely: Sara Blakely left her sales job and founded Spanx, a highly successful brand specializing in shapewear and undergarments.
- Larry Page and Sergey Brin: Larry Page and Sergey Brin, while pursuing their Ph.D. studies at Stanford University, co-founded Google. They left their academic pursuits to focus on building the search engine, which has since become a dominant force in the tech industry.
These individuals demonstrate that leaving a job to pursue entrepreneurship can lead to remarkable success, although it’s important to note that entrepreneurship involves risk and requires hard work, dedication, and perseverance.
People Who Grow with their job and become successful:
Many individuals have grown with their jobs and achieved remarkable success through their dedication, hard work, and perseverance. Here are some examples of people who have climbed the ladder of success within their respective careers:
- Satya Nadella: Satya Nadella started his career at Microsoft in 1992 and gradually rose through the ranks to become the CEO of the company in 2014. Under his leadership, Microsoft experienced significant growth and transitioned into a cloud computing and technology services powerhouse.
- Indra Nooyi: Indra Nooyi joined PepsiCo in 1994 and served in various roles before becoming the CEO of the company in 2006. She is credited with transforming PepsiCo into a more health-focused food and beverage company and expanding its global footprint.
- Tim Cook: Tim Cook joined Apple Inc. in 1998 and held various key positions within the company before assuming the role of CEO in 2011, succeeding Steve Jobs. Cook played a crucial role in expanding Apple’s product line and driving the company’s tremendous growth.
- Mary Barra: Mary Barra started her career at General Motors (GM) in 1980 and worked her way up to become the CEO of GM in 2014. She became the first woman to lead a major global automaker and has focused on driving innovation and transforming GM’s business model.
- Warren Buffett: Warren Buffett began his career as an investment salesman and eventually became one of the most successful investors and business magnates in the world. He built his conglomerate, Berkshire Hathaway, through strategic investments and acquisitions.
- Ursula Burns: Ursula Burns joined Xerox Corporation as an intern in 1980 and climbed the ranks to become the CEO of the company in 2009. She was the first African American woman to lead a Fortune 500 company and played a pivotal role in transforming Xerox into a services-led technology company.
- Jamie Dimon: Jamie Dimon joined JPMorgan Chase & Co. in 2004 as CEO and has since established himself as one of the most influential figures in the banking industry. Under his leadership, JPMorgan Chase has grown and become one of the largest and most successful banks globally.
These individuals exemplify the potential for growth and success within a career by consistently delivering outstanding performance and demonstrating strong leadership skills. Their stories serve as inspiration for aspiring professionals to achieve their goals within their chosen fields.
Top Quotes to Help You Choose Between a Job and a Business
If you’re stuck at a career crossroads, deciding between a stable job or starting your own business can be a daunting task. It’s a decision that requires careful consideration, weighing up the pros and cons of each option. To give you a little inspiration and perspective, we’ve compiled some of the best quotes on the job versus business debate.
- “Choose a job you love, and you will never have to work a day in your life.” – Confucius
This quote is a reminder that when you enjoy what you do, it doesn’t feel like work. A job that aligns with your passions and interests can bring a sense of fulfillment and satisfaction that a business venture may not always offer.
- “The biggest risk in life is not taking any risks.” – Mark Zuckerberg
Starting a business is undoubtedly a risk, but so is sticking with a job that doesn’t fulfill your potential or provide a sense of purpose. This quote encourages you to take calculated risks, step out of your comfort zone, and pursue your dreams.
- “The only way to do great work is to love what you do.” – Steve Jobs
Steve Jobs’ quote is another reminder that passion and enjoyment in your work are crucial to success. If you’re not passionate about your work, it’s hard to excel and make a meaningful impact.
- “Entrepreneurship is living a few years of your life like most people won’t so that you can spend the rest of your life like most people can’t.” – Anonymous
Starting a business requires hard work, long hours, and often significant financial investment. However, the rewards of entrepreneurship can be immense, offering financial freedom, flexibility, and a sense of control over your career and life.
- “Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.” – Albert Schweitzer
Albert Schweitzer’s quote is a reminder that happiness and success are intertwined. Whether you choose a job or start a business, finding work that makes you happy should be your ultimate goal.
The only thing that matters is your current satisfaction and your long-term stability. The rest all is just noise.
I hope that helps !!
Frequently Asked Questions
Q: What is the difference between a job and a business?
A job is a paid position of employment, typically within a company or organization, where an individual works for a set number of hours and receives a regular salary or hourly wage. A business, on the other hand, is an organization or enterprise that is set up to make a profit by selling goods or services
Q: Which is better, job or business?
This depends on an individual’s personal preferences and goals. Some people may prefer the stability and security of a job, while others may prefer the freedom and potential for growth that comes with owning a business.
Q: How do I decide between starting a business or finding a job?
Consider your skills, interests, and financial situation. Starting a business requires a significant amount of time, effort, and investment, so it may not be the best option if you’re not prepared to take on that level of risk. If you’re not sure if you’re ready to start a business, a job can provide a good opportunity to gain experience and build up your skills and savings before starting a business.
Q: What are the pros and cons of having a job vs business?
Some pros of having a job include a steady income, benefits, and job security. Some cons include limited opportunities for advancement and limited control over your work environment. Some pros of owning a business include unlimited earning potential, the ability to be your own boss, and the ability to create something of your own. Some cons include financial risk, uncertainty, and long hours.
Q: Can I have a job and start a business at the same time?
Yes, it is possible to have a job and start a business at the same time. Many entrepreneurs start their businesses as a side hustle while they continue to work their day job. This allows them to build their business gradually and gain experience and skills before quitting their job to focus on the business full-time
Q: Is it possible to switch from a job to a business?
Yes, it is possible to switch from a job to a business. Many people start their own businesses after gaining experience and skills in their field while working in a job. However, it’s important to keep in mind that starting a business can be risky and may require significant investment. It’s important to do your research and have a solid plan in place before making the transition.
Q: What are the key differences in terms of financial stability between a job and a business?
A job typically provides a stable income, with regular paychecks and benefits such as health insurance and retirement plans. A business, on the other hand, can provide the potential for much higher earnings but also comes with more financial risk. A business may take time to become profitable, and there may be periods where income is unstable or non-existent.
Q: How does the level of autonomy differ between a job and a business?
In a job, the employee generally works under the direction and supervision of their employer, with little control over their work schedule or the direction of the company. In a business, the owner has a high level of autonomy, making all the major decisions and having control over the direction and growth of the business.
Q: How does job vs business impact work-life balance?
A job typically requires a set number of hours of work per week and provides a clear separation between work and personal life. A business, on the other hand, can require long hours and may not have clear boundaries between work and personal life. Starting a business can be time-consuming, and it may take time away from family and other personal activities.
Q: Should I start a business or look for a job?
It depends on your personal goals, skills, and financial situation. Starting a business requires a significant investment of time, effort, and money, and it comes with a level of risk. If you are not prepared to take on these risks, a job may be a better option. However, if you have a clear business idea and the drive to be an entrepreneur, starting a business can be a great opportunity for growth and success.