RUNNING YOUR OWN BUSINESS VS WORKING FOR SOMEONE ELSE
Society is often divided into two groups on major issues involving occupation. Due to the current status of the economy, and that many companies are downsizing or outsourcing jobs, many people may find themselves losing their jobs and having to take the decision of finding another job or starting their own business. Some people like to have their own business and work for themselves. While others, in contrast, think working in company is better for them. Both these life styles have their pros and cons as well as many interesting and important differences.
First of all, the vast difference between working for someone and owning one’s own business is the payout. With an employer, you have a guaranteed income. As long as you are not fired from your job, you get your monthly salary. The same thing will not happen when you own a business where the payouts are inherently unpredictable. However, chances are that you’ll have zero income or absolutely no clue how much you will make in any given month. This makes expense planning and budgeting extremely difficult, not to mention stressful. Imagine having to cover your mortgage, education and everyday expenses based solely on sales projections and guesswork.
The second difference, which is not less important, is the responsibility to your job. With a regular day job, you never feel personally responsible for things that are beyond your control. For example, if you’re an engineer and your company’s marketing team makes a critical mistake in positioning the product that you designed, you might be disappointed but you probably wouldn’t lose sleep over it. When you own your own business, you are responsible for you work. You become more creative, because you are allowed to think by yourself. You make your own hours, and decide how hard you want to work. On the other hand, you feel personally responsible. Every little thing becomes your problem and you will have to suck it up and deal with it, even to the point of stressing out.
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Last but not least, the amounts of time you have to invest to your work in both these life styles are another day and night. With a day job, you come to work at 9 AM and leave at 6 PM. Even if you have a lot of work and have to stay longer at the office, at some point you will leave your work. The same thing will not happen, unfortunately, with your own business. It is always with you all year long, there is no definition of weekend in your story. You will have to put as many hours as possible to achieve your goals.
There is a prevailing misunderstanding among people that running your own business is always the best thing. However, in life, everything has its positive and negative sides and running a business or working for someone is no exception. In my opinion, it is better to work for someone to acquire experiences before making your own businesses.