There will always be Pros and Cons when you compare being an Employee at someone else’s company versus you owning your own company. This post was written to point out the main ones.
Since I’m an optimist, I’m only going to point out the advantages of each option, leaving out the disadvantages
- Set schedule.
- Steady paycheck.
- Opportunity to obtain important licenses and certificates at the owners expense.
- Opportunity to make important business contacts.
- Employers assume all of the risk. You have an opportunity to learn the business before opening your own similar business. Meanwhile your employer is the one who has to fund the learning process. As a matter of fact, they will be paying you to learn the business.
- You can get away with doing just enough. If you tried this as an entrepreneur you will be out of business in a month. Although, I don’t recommend this, we all know the work place is filled with clock watchers who barely get the job done.
- More structure. If the business is successful they most likely have a proven system in place. You’ll be able to learn their process and eventually replicate it.
- Paid benefits depending on the employer.
- Freedom to run the business as YOU see fit.
- Flexible Schedule. In other words, you’ll have freedom to come and go as you please.
- Opportunity to become wealthy.
- Opportunity to retire in a short period of time.
- The empire that you have built over the years can be passed down to your heirs.
- Opportunity to learn more skills at a faster pace. As an entrepreneur you will be forced to adapt to what ever is thrown your way. Sink or swim.
- You have more control over your career.
- You start as a leader, right from the jump. Promotions are no longer needed to be able to lead, manage and delegate.
Note: I did not include Job Security in either category, because despite what you might believe, in my opinion there is no such thing as job security anymore.
You’ve read how I feel about this subject, now what do you think? Employee or Business Owner? Which is the best choice?
Lastly, what do you think I’m missing from the list?
Share your thoughts in the comment section.
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Written by Ivan R Maldonado
Author of “Head Start 2 Riches”
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