If you are confused about doing a 9 to 5 job or choosing business as your career, this article will help you see all the aspects of business and a job.
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Business vs. Job: Which one makes more money?
While comparing jobs and business, it’s a no-brainer that business is the best job. It brings more money, makes you responsible and it has no limits.
However, it’s not as simple as it sounds to be.
Not all business owners make the same money. And it’s not always money; you pay the price for the extra bucks.
That’s what you will understand here.
Your fate depends on what you do, and how efficiently you do it.– Junaid Raza
If you are not doing profit-making business or doing it the right way, you can’t get the optimal results.
For instance, there is a huge profit margin in the laundry business. But some laundry businesses still fail due to some reasons.
If you don’t figure out why laundromats fail or how you should make your business successful, it won’t get you the best ROI (return on investment).
The second best example is car dealerships. Car dealers make $2,337 per car. But some car dealers use social media marketing strategies and save up to 90% of marketing costs. Hence they make much more than many other car dealers.
In short, you shouldn’t do it if you can’t run the business efficiently.
Now let’s move forward to the stresses involved in business and jobs.
Stresses involved in the job.
If you have not started a career yet, here is what you will get with your 9 to 5 job.
No matter where, if you are going to get a job. You will undoubtedly face a toxic work environment. Even if it’s a brand name, they care about their employees. Still, you will suffer due to bad managers.
If your manager is a good person, bad employees will give you a tough time.
Sometimes, it becomes so hectic that some good employees leave their jobs due to bad employees.
Every job has a limited salary. Your salary can only pay your utility bills.
Some jobs especially in sales get some reasonable money. But still, that’s limited. You live a decent life but you can’t save anything.
Every job has some KPIs. If a company has assigned you a target, you have no option but to achieve it.
You will always be worried about your targets.
Fear of losing the job
Companies invest a lot of money and resources to train employees. Make them fit in their culture. They never want to kick people off. But if they don’t need underperforming employees.
If you wouldn’t be meeting their KPIs, you will live in a fearful environment.
The other bad scenario is the failure of the business itself.
If the business is not utilizing best practices, and advanced technologies then survival can be difficult.
In such situations, they first downsize before they shut down.
In any case, the fear of losing a job somewhere lives inside employees.
Stresses involved in the business.
If you have never done business, here are the risks and stresses involved in the business. So you should see what you might lose in business.
Money is one of the pillars of any business. You can’t run any business without money.
Once you put your hard earned money, it’s always at risk. You can fail at any time. It might be your life’s savings that can vanish at any time.
While on the job, the most significant loss can be your one month’s salary. After that, you can settle elsewhere.
Fear of losing
No matter how big you are, your business depends on your products or services, employees’ loyalty, the market trend, and customer experience.
You can make efforts to do your best but don’t control all of them.
That makes you fearful.
The day you start a business, you face many problems coming on way, so your mind is never in a peaceful state unless you have grown a big company.
Employee management isn’t easy.
You need loyal employees to work for you, but you can’t satisfy them all the time. How shall you retain loyal employees?
The second problem is to make them productive and get optimal results.
That’s also a painful job.
If you don’t take this pain, you can’t get give your best.
Privacy and security issues involved
Do you know that Coca-cola has never disclosed its formula to any of its employees? They invest a lot of money to secure their formula.
It’s not just Coca-cola whose formula is precious but every business has its precious data. That must not be disclosed.
This privacy and security issue is involved with every business, and if you don’t pay attention to it, you will surely suffer in the longer run.
Once you realize it, this becomes your headache.
There are some employee management apps that help you protect your data, but you have to take care of your official data every single day.
Maintain the growth
Along with all other big problems, maintaining growth is one of the biggest business problems.
If you have achieved a target for a quarter, you don’t want to lose that level. You may require a little more effort in the next quarter.
In business, you want to scale or maintain the level you achieved.
That’s why, business is a 24/7 job.
When it’s better to get a job?
Most people don’t want to live a risky or stressful life. They want to enjoy their life with their families, and with themselves.
The majority think of business when they are in debt or can’t pay their bills with their jobs. They need extra money.
They would never think of the business if they had even a small amount in their banks for the whole year.
That’s why actually they are not interested in business but in extra money.
So business is not the only solution to their problems.
According to George S. Clason, you will get rich if you cut your expenses and invest 20% of your income for a few years.
So if you don’t have a purpose but want to make money, then instead of starting your business, you should think of easy ways to make money.
In short, whatever you can do, you can make some extra money from your skills.
All such jobs are side hustles you can keep with your 9 to 5 job.
When should you start a business?
If you have a life purpose that you want to achieve with business, if you have investments, skills, a talented team, and the guts to run the show, you should start your business.
It definitely gets you more money and businesses are scalable.