Nothing can be earned without struggling. And human life is full of struggles starting right from the beginning when a child takes his first step. From then, every step of his life is earned through struggle. Once you graduate, you will have two choices either you go for a job or you are capable of doing a business. Many students determine their career path by considering their interests, hobby, education, skills, and responsibilities.
So, it is always a topic of discussion which one is better; a job or a business. Both types of employment have their own hardships and difficulties. As it is said that Life is not a bed of roses, you cannot achieve success just by idle sitting on a sofa. You have to put effort to become somebody from nobody. If a person is a workaholic and can manage stress, he can choose to be self-employed and if he wants security then a job will be his personal choice. The type of employment a person chooses is not only dependent on his own preference sometimes external barrier becomes a hindrance in their path. In business, the external factors may be the country’s rules and policies, availability of finance, the type of bank policies for loans or mortgages, etc. In a job, the external factors may be office politics, favoritism, and stressful working hours. Many times a person chooses a job unwillingly because he has to earn a living and support a family.
In this article, we will focus on the positive and negative aspects of doing a business as well as doing a job to determine which one is better. Let’s start with a business.
WHY BUSINESS ?
- Business is a practice or activity organized by a person solely to earn profit. Some models are profit-based and some are non-profit-based. Some businesses involve the production of goods while some offer services. A self-employed person either owns a small shop or runs a big factory, and is a boss on his own. He does not work under someone and is free to make his own decisions. It requires a lot of hard work with patience and courage to avoid failure.
- A businessman must keep a good eye on his competitors he has in his related field and what are their strategies to move on in the available market. He has to do market research, has to arrange meetings or news conferences, has to discuss marketing strategies, and many other activities to grow the company.
- According to the survey conducted by the Wall Street Journal and Cicco & Associates Inc (2006), most small business owners have more satisfying business experiences and lead happy life without worrying.
POSITIVE ASPECTS OF BUSINESS
- A business owner has the freedom of choice and power of decision-making. He does not have to work under someone.
- A businessman plans work according to his discretion. He can also set his working hours and can plan when and where he wants to work.
- A businessman gains personal satisfaction by implementing his ideas, working directly with investors or customers, and watching his business grow steadily.
- Extreme hard work and patience provide fruitful results in the long run. Even if there is no profit in a few years, there will be unlimited profit someday.
NEGATIVE ASPECTS OF BUSINESS
- A business involves more financial risk than a job. As an entrepreneur, fundraising is the main task. You will have to convince investors to invest in your firm.
- Starting and running a business is not easy and time-consuming than a job.
- The business owner is liable and responsible to carry out all its expenditures, income tax, bills, cost cutting, low profit, timely salary, and much more.
- Business handling is the most stressful duty, as the owner has to evaluate profits and losses along with equipment failure and employees’ low self-esteem which becomes a barrier to good performance.
WHY JOB?
A job is a set of duties and responsibilities that a person is responsible to complete within a certain time limit. A job can be classified as part-time or full-time work. It offers a fixed salary every month until appraisals or promotions that are usually annual based. The desired job post is always challenging and hard to achieve.
POSITIVE ASPECTS OF JOB
- A job does not require taking the risk in making critical decisions. Limited working hours usually 9 to 5 jobs provide more time to spend in social circles.
- A job is more secure than a business because you can easily switch to another job or get another if terminated.
- The job ensures a fixed and steady flow of income each month.
- There is zero or little financial risk in doing a job.
- Job offers perks and benefits to employees like provident fund, golden handshake, pension after retirement, medical compensation, and much more.
NEGATIVE ASPECTS OF THE JOB
- A job holder has to work under someone and is not free to make his own decisions. And often is scolded for poor performance and mistakes.
- A person doing a job is dependent on his employer and obeys whatever task or workload is given by him.
- There is limited or low recognition of the efforts of employees. Plus favoritism and discriminatory attitudes in the workplace make it even worse to work in such an environment.
FINAL THOUGHT
Business versus job is a non-stop debate that will never end. The business has its own challenges as well as the job.
It mainly depends on the interest or spirit of doing something. If he enjoys a highly-paid job, lives a luxurious life, and saves for his future, then it’s his choice. Or if he wants to move towards business, he has to work endlessly to be succeeded one day.
A fresh graduate is like a newborn in the available market, only academic knowledge without practice is not enough to start a business directly. He has to gain experience either by doing surveys or market research while continuing a job for a certain period.
Let’s face the fact that getting the desired job as a fresher without any relevant work practice is difficult. You have to invest some months in doing internships or go through training before starting a job.
For example, a person cannot be a good doctor after completing his MBBS unless he completes his house job practice for 3 to 4 years to specialize in his field.
It is best to gain some knowledge and experience in whatever field you decide for your career. Last but not least, your commitment to your goal leads you to real success. If you think you can set up your business one day then go for it. And if you can’t wait and handle the pressure of doing business, then the job is more suitable for you. In the end, it’s all up to you!