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  • Category: Miscellaneous

    Working for yourself or going for a job, what would you prefer?

    When it comes to earning we have two options, either work for yourself or go for a job. Both options have their own pros and cons and in the end it comes to us to choose the best for us

    If we work for ourselves, we know that we will need capital, skill, human resource and above all a business idea. Even in case of family business, we will need new ideas to expand it (except few businesses)
    Working for ourselves will have following advantages:

    1. You will be your own boss.
    2. You will reap all the benefits of your labour.
    3. You learn multi dimensional skills.
    4. You will have the freedom to experiment with your decision.
    5. You may have a lot of time if business gets well settled and in auto mode.
    6 You will be a job creator.
    Few more benefits will be there which members can add up.

    On the flip side, there will following challenges:
    1. There will always be an uncertainty of fixed Income.
    2. Responsibility of employees will be there.
    3. There will be competition.
    4. You will have to take all decisions without guidance or brain storming.
    5. Risk of business collapse due to change in economic conditions.
    6. You will be engaged 24x7, for business growth and maintenance.
    7. You can incur huge losses too.

    Now in case of job, there are lot of benefits that lure more people towards it.
    1. Job promises a fixed income every month.
    2. Your job ends by the end of the day.
    3. You are certain of income hence can plan for expenses easily.
    4. Work responsibility is limited.
    5. Risk of financial losses are minimum.

    Job has the following disadvantages:
    1. Scope of exponential income is very limited.
    2. Your are always answerable to your superior or boss.
    3. Don't have the freedom to experiment or take decisions.
    4. Have to ask your seniors for leaves in case of emergency.
    5. Don't learn all the skills of a business.
    6. Competition from colleagues and politics is a lot as someone always tries to overthrow you.

    Now both the options depends upon an individual based on his risk taking ability and his ambitions. Above all what idea one has for setting up a business as most of the general business have a lot of competition and the business dynamics are changing very rapidly every day.

    What do you think is best for a youngster who plans to begin his career either as a service man or businessman?
  • #709768
    At the outset thanks to author for this thread but with little more details this post can be a good article. Coming to the subject, if you have the ideas, money and have the notch to create working chances for others then the self business is the best bet. But when you have been a professional and if some company needs your job as the service then you cannot deny that. There is always a cushion to earn and do the business on own as the profit and loss is left to our own performance. But it pinches hard when you work for some company and they benefit huge through your service and they pay the pittance. Anyway when the dignity of labor is not respected and the payment is not reasonable equivalent with the work put, then it is useless continuing in that job instead go for the self business which is the best bet for those who cannot sustain insult.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #709773
    @K Mohan Sir, thanks for the suggestion to convert it to an article. I just wrote it down without a single pause, as so much is going on in my mind as of now. I am working on a business idea, but have lost a lot of money due to some reasons which I had shared in another thread. I am now just testing the waters before I take another leap and every suggestion and opinions help.
    It is true, in job you are paid a pittance for the amount of work and time you put in. For the same reason I am trying to build upon something that would not only help me grow but also those who would work 'with me' instead of 'for me'.

    Live before you leave.

  • #709777
    This is really a very interesting subject. Which one to choose - going for a job or having own work. Today the situation in our country is such that you utterly fail at both the places. There is no job and if you start some business there are no customers. Anyway that may be a temporary phase and things might look up soon. Many people are only interested in a job especially a Govt job so that they can relax and enjoy life. These type of people are very fearful of taking any responsibility and pass their time like that only and retire from the service getting some pension or interest from the savings. They cannot even dream of doing business.

    At the same time, there are a few who are laborious, enterprising, and risk taking and they venture into all sort of experiments in making money through business and many of them get success also. So, if one is having an inclination for self work it requires commensurate hard work which only a few people can do. Easiest thing is somehow get a job and if the company closes, try a job elsewhere. Most of us are like that only.

    Knowledge is power.

  • #709778
    The author has very well explained the pros and cons of both working for yourself as well as working in a job. But it is really difficult to decide which one is better. It depends on many factors including the financial condition of the person, his or her attitude, and family responsibilities on him. Whenever you switch from a job to your own venture, you always need a strong financial back up otherwise you may end up with sufferings for you and your family.
    Many times, people leave their jobs as they do not go longer with the attitude of their boss. But that is not good. Everything must be done with a plan and should not take such steps out of anger.
    My uncle has a well-set business. He started it at a very young age but after making big savings from his job. He faced some losses and even took a loan initially but now everything is going fantastic.

    Padmini

    Living & Learning- simultaneous processes!

  • #709800

    Every coin will have two sides. Similarly, every idea will have some positives and negatives. The success will depend on how you can utilise the positives of the method you have selected.
    The author has explained all the positives and negatives of going for a job and working on your own. The best option may not be the same for all. The individual's financial status and working abilities will have a lot of impacts.
    Personally I feel always having your own business is the best choice. But for starting a business we should have some money. From day one of your business, you will not get profits. So you should be able to manage your kitchen even though you are not getting any money every month. There is always an element of risk in business and you may lose some money initially. We should be able to withstand that loss. Many businesses I have seen that at least for one year we should not expect any returns for our investment.
    The best thing is to join in a job immediately after completing the studies and gain some experience. That will give you a more understanding about the business and after 3 or 4 years expereince you can start you own so that you will be your own boss and you will be a boss to many people whom you employ.


    drrao
    always confident

  • #709881
    Both working for others and working for ourselves are one and same. Whether we are going for a job we should work with our full heart as of working for ourselves. If we start thinking that we are working for others, it is equal to half heart work and the fulfillment and satisfaction will not be there. If we do our work with full heart as it is our own work, the full satisfaction and our own job satisfaction is there. We should not idle or wavering in our work when we are going to job.

  • #709966
    In our family and relations most of us are doing some job either in Govt or private. No one thinks of venturing in any sort of business. I am also not having any idea or confidence of starting something on my own so I prefer and go for job option only.
    Thoughts exchanged is knowledge gained.

  • #709973
    If a person is capable, then one should do his own work, I believe that if you work for your own business then you will fulfill your dreams, but if you work in another's company then you can fulfill the dreams of others in your life. You give too much time you should always do the same thing in life that can fulfill your dreams which you want to do in your life. Doing business gives you the chance that you work for your own dreams and not for anyone else. You get full freedom, you can do your work whenever and whenever you want, but this is not possible in a job, you can never leave or rest according to your mind. You always have to walk at the behest of your boss, whether you wish or not. It's nice to be the boss of your work.
    Swati Sharma

    Keep your Face to the SunShine


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