Among the many choices and dilemmas people have in their lives is Jobs vs. Business? In this battle of always choosing between the right and the wrong, what would be the right choice to make, a job or a business? Is there even an answer? To be honest there is no right and wrong between the two. Just like millions of other choices we make throughout our lives it’s all about preferences. What is most feasible to you? What attracts you the most among the two? It is all about your interest and passion. Ofcourse, your interest can change at any stage of your life and you can develop a passion for something. Meaning you can be in a job for certain years and start a business of your own after a while or vice versa.
What is a Job?
A job from what everyone understands is when a person works under another person or an establishment for a predetermined pay. While this is the basic understanding of a job, it can be defined as many other things depending on the type of the job. There are full-time jobs, part-time jobs, remote working etc. But the piece of work a person does or the duty they perform under an agreed salary and time frame is a job. The salary can also change with the various jobs, especially freelance projects, remote working or part-time jobs. When you are in a full time job this predetermined salary changes with promotions and increments.
The bottomline is, in a job you get a timely fixed amount of salary and you always work under someone superior to you, a boss if you may. It is a less risky affair in case of earning money as long as you are doing your work properly.
What is a Business?
Most people consider Business the opposite of a job. No, it is not. It is simply put, an establishment fully engaged in commercial or professional activities. A business engages in producing and selling, of goods and services for profit. Here a team of people work together to achieve those commercial goals and profit. A business usually falls in one category out of these three small business, medium business or large business. Being a business owner means you are your own boss. You are mostly responsible for taking decisions for the betterment of the business.
Now let’s compare Jobs vs Business
Money: As a business owner the more profit your business makes, the more you earn. Whereas in a Job you would be paid by your superior a decided amount. A person in a job would also have to wait for a certain period of time to receive that money. A raise or promotion also takes an unprecedented amount of time.
Responsibility: A Business or a job, both demand equal amounts of work. Without work neither would you do a good job at your job, nor would your business succeed. So when it comes down to responsibility no one is spared. As a business owner the amount of responsibility is way more that of an individual employee. An employee just has to be responsible for the work they are assigned, on the other hand a business owner has to be responsible for all the aspects and functionalities of the organization. Being on a job means being responsible for whatever work you’re assigned. To finish timely, give good results ultimately being an asset to the organisation.
Risk: It would be safe to say that there is less risk in jobs than in Business. When in a job you have nothing too loose as long as you are responsible about your work. Show up at work timely, do a productive job and you’ll receive that paycheck at the end of the month. But with business it is not so, there are plenty of risks which lead to a downfall. Running a business means taking care of every little thing related to your business. Identifying the opportunities which might profit the business, being decisive. Every minute and every move is a risk in business if you fail to manage clients, organisation, take decisions in time and identify opportunities. Being a successful business owner may sound fun but they have to overcome a lot of challenges.
Work & Effort: Again, whether a Business or a job both takes equal amounts of work & effort. If you want your business to succeed as a business owner, you need to put in all the effort you can and sometimes even push the limits. As a business owner you should also be able to perform mostly all kinds of work as demanded by the situation, especially when starting out. Same goes for a job. If you want to have a successful career, you have to put in more efforts, do more than just what your job demands.
Lifestyle: In terms of a successful materialistic lifestyle of course a business owner would be in a better place. A person in a job is most likely totally dependent on their salary. How they manage their money would result in their materialistic wealth. But when it comes to other aspects, a business owner would likely have a more chaotic and busy lifestyle. Most times, they would be thinking about the growth of their business and their business keeps them pretty much occupied throughout. On the other hand, it is less likely that a person in a job would be stressed about their work after their working hours. They may stress about where their career is headed but most people leave their work responsibility at their desks at the end of the day.