Are you someone who is in 20s and trying to figure what should you do in life whether to pursue higher studies in education or start your own business and venture your idea or maybe someone who has worked enough as an employee and now want to start his own idea.
Read closely as we explore in depth Business Vs. Job and what are you made for?
Comparison Between Job Vs Business
If you are in a job your money making capacity is held by the system. If you landed a lower position initially in you workplace it will take time to grow, the salary will increase in a linear fashion like 20k per month in first year and 30k per month in second year.
Maybe if you land on a good position in the company then you become content with the initial salary of 60k to 80k per month but you will at the end face the same issue of the growth rate of increment by only 10% – 20% in the next upcoming year.
The business goes by exponential rule, you may not even make single penny in first year. And then you may be making more than 100k every month in the second year.
Generally when people make business in online world, they see a stagnation period of one to two years with absolutely no money but once the starts to come in the third or fourth year than it will grow like exponentially from 10k every month to 40k other month to 100k next month and 200k the fourth.
You are the only person who is responsible for you payouts and promotions there is no one holding you promotions. The only thing required for your success is knowledge and hard work.
The business has kept the salary thing very simple, either there is nothing or there is everything. There is no real time constraint of making a business model profitable.
If you inherit the business from the family and the business model in making money than your earnings are guaranteed from the next day. But when it comes to starting up the things from scratch and have no prior experience it will take maybe an year or two before you receive your first income comes and to make the business model profitable it may take an year more.
You can expect up to two or three years of earning the real profits and not just making money.
Whereas in a job you will have that initial income as soon as the month comes to an end. There is security to that . You will be paid as you deserved in the jobs from starting out. This also gives motivation for something good in life.
Here I want to suggest if you want to start the business in some field do get some experience by working jobs initially it will help you believe that really the money is their at the end while you are ot paid as you start in business.
Security in Job Vs Business
Security is one of the greatest motivator for people, where lies the security their lies the safety.
There are two types of job that people will find themselves to be working under and that is one the public or the government jobs and the private or the corporate world job.
Government jobs are relatively more secured than the private jobs. The government jobs are only effected when there are changes to the policies by our lawmakers. But the private jobs are effected by the how well they are doing in market. If the business goes down the corporate have to remove people from their jobs.
The business is not secured that’s the beauty of it. Your income may be 1 lakh inr per month today but if the demand get disrupted than you will have nothing in hands. It’s a little volatile but at the same time the more rewarding.
Also if you are in market of evergreen demand like providing essential of the people then you have to build a system that can take care of business when you are not around the business becomes secured as well as more freedom you will get.
The Working Hour
The government or private have fixed hour of working you will have to work 9 to 5 and there is no escape from the fixed timing of the jobs.
There is no fixed timing in business you can work on your will and the hour you feel the most productive whether it can be 9 to 5 of the day or the night the timing becomes highly flexible.
The job has fixed working time whereas the business will have flexible working time.
If you want fixed timings in you work and security than government job becomes the right option for you but if you want freedom than your lie in business.
Retirement And Pension Plan
There is a set age of 60 to 65 years in jobs and after that you will have to retire and from then you will start getting your money from the pension plans.
Whereas in business you will have the opportunity to retire early and don’t have to wait for years to become free and enjoying your life. When you have built your source of income stream and the business has start to generate income without your requirement then you can rest for the life as these sources gives of income passively.
This point totally goes into the favour of the job, because people at a good position in jobs and especially in the government jobs are treated with much respect.
The job worker becomes example that the parent gives to their children and will also aspire them to follow the same. Jobs are treated as a much of respect from friends and family and also other people like to associate with you.
In a Business, people will have a negative eye as you start out until you will start earning a respectable income. Also even when you start earning a handsome amount then also people will not treat you with as respect as they will give to a job earner.
If you want respect than definitely go for the job but if you want to work for your cause regardless of how people will perceive than business.
Budget or No Budget
In a job as the salary is fixed so is the budget within which you have to survive. Job earner have the budget within which they have to feed the family and it remains mostly same for the rest of the life.
But for business owner there is No Budget when the profits are increased the budget are increased and if the business becomes successful there is also a chance that your budget will go out of the window and you will spend according to your desire and not just to survive.