Employee V/s Entrepreneur | Which Path to choose in 2021?
Introduction to Employee V/s Entrepreneur Employee V/s Entrepreneur. You must have listened to both words. Moreover, Entrepreneurship has become quite popular over the past years. Instead of working as an employee, many people want to start their own business. You may have also listened to your parents, relatives, or people saying to have a secure job. What is right? Should we choose a job and feel secure in our life because entrepreneurship, starting your own business is very risky. While being an entrepreneur can have many important advantages, there are also some issues related to it. Till now you were confused between job and entrepreneurship but after reading this article you will be cleared and you will make a decision on your own, what to do? Because I know both worlds and give you all the pros and cons of employee v/s entrepreneur in the following article. In today’s world, people are very much confused about what to do. Should they take some risk and leave their 9-5 job, or should they build a business with their job? Should people who have their own business also close it? There are unlimited questions like this, but that all questions will be solved as today you will learn the pros and cons of entrepreneurship, job, and shifting from job to entrepreneur. First, let’s see what are the conventional concepts and things which we have been taught till now about employee v/s entrepreneur. What have we been taught about jobs and entrepreneurship? Generally, in most families, we have been taught about having a secured job. The thing which most parents want their children to have is a secured job. But according to the conference board, 53% of Americans are currently unhappy at their job. Then why do they say so? To let their children be unhappy? So we have to choose entrepreneurship right? But According to the U.S. Bureau of Labor Statistics (BLS) data, shows that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more. We can say that 90% of startups fail. This clearly means there is a lot of risk in entrepreneurship than a job. Because we get at least job security and we get a paycheck every month in the job. But have you seen any millionaire or anyone who is fulfilling his dreams and is successful because of his job? People who are billionaires today were always entrepreneurs, never at jobs. But no one in our society generally talks about entrepreneurs, they just talk about jobs or self-employed. So what to choose? We will look into it. This was just what have we been taught. Pros And Cons Of Being An Employee V/s Entrepreneur Pros Of Being An Employee It is not a secret that many people hate their jobs. For some people, it’s because of their boss or colleagues. For others, it’s because of the perceived lack of work-life balance. Regardless of the reasons, there are also many benefits of working a 9-to-5 job that could lead you to think otherwise. Let’s have a look at some of them: #1 Regular Paycheck Whether the business is in loss or profit, it is the best thing about the job is a regular paycheck. Like if you have done any EMI, then you don’t have to worry about that. In fact, a paycheck is the most exciting thing for many peoples. If you are in a job, then just imagine the time when the paycheck comes. You have your widest smile while seeing the text of salary, haven’t you? Why? Because money cannot buy you happiness but can give you stability and security. It gives you a kind of feeling of security and independence. As long as you will give value to the company, you will receive a paycheck. #2 A Sense Of Identity Have you visited your relative party, or any kind of party, meetups, meetings? What is the question someone asks you there if he doesn’t know you? First, he asks your name, and then in most cases after that What do you do? At this time job gives you an identity. Though many people hate their job in this situation they proudly say their position. For Example, Your Name, FBI. This is the benefit of having a job as it will give you a perfect definition of who you are. #3 Experience You may have listened to people saying before starting your own business, you should once be in the job. Even I believe that before starting your own business, you must gain experience of business by doing a job, not for the paycheck but the experience. As a job gives you a lot of experience. In fact, if you get a job in the business which you are going to start, then the job will teach you a lot about management, sales, some strategies, and many people. #4 Meet new people The job allows you to meet many new peoples who can be your friends, mentors, colleagues, or competitors. This helps you to improve your social skills. This helps you to improve your confidence, communication skills, and also meetups. It is fun working with new people which you get here. Maybe one of them is your best friend forever. #5 Work-Life Balance In your 9-7 job, though you don’t get time between 9-7 you get time after that. You don’t have to bother with stress after that. In our life, there’s not only work but our lives also matter which includes our family. The best thing about it is after 7, we are free of stress, work, and the burden of work. And we can easily give time to our family. This is the work-life balance. #6 Work with a community On the job, we mostly work with a community. The community doesn’t here mean your home community but office community. We as an employee work with other employees as well. We can tell it as our work family. Sometimes all the people enjoy and do the work which is like working fun. Cons Of Being An Employee Till now you may think that job is the best, as we get many works as well as social advantages. But we can decide by seeing one side of any coin. If we see only the pros of anything, then we would definitely say “YES”. #1 Less Job Security The thing which you have to keep in mind and which people ignore is businesses are not emotional. They don’t want people who don’t have the proper skills to work. Today robots are taking place of humans. It is not popular till now, but it will be common soon. It is said that in businesses you have to fire 10% of your employees every year of bad performance. Businesses don’t want quantity, they want quality. In fact in today’s world people with high skills also don’t get a job. Job security is in very few jobs today. Remember this point always “If you don’t come to work on time, you’ll be fired.” #2 You can’t decide Your Job Earnings And Reward [ Income is not equal to action ] Know more: click