Which is Better a Job or Business?

People are researching which is better a job or business. Having done both, let’s take a look at the differences. Then decide for yourself which will be best for you at this given time and place. Just know it can change over time, which is what it did for me.

Determining the Differences Job or Business

When it comes to determining the biggest differences between a job or business, we need to keep an open mind. We all have our opinions and no one is completely right or wrong. It truly depends on the situation each individual is facing.

So let’s explore some of the more obvious differences first.

Jobs

Report to someone else who controls your income.
Tend to have specific hours you must show up.
Even if working from home, your boss or supervisor controls your time and actions.
If you are salaried, no matter how many hours you put in, you are only going to get a set amount of money.
Most of us have to put our job over our families and life events.
Many employers frown on additional jobs, or as older generations call it: Moonlighting.
Depending on the employer, your PTO or vacation time is structured so that you only have so much time.
When you take a day off of work, it piles on your desk because no one else will pick up the slack.
When you are tired of a job, you can always go elsewhere.
Sometimes if you stay long enough there is a retirement, pension or something – well, lately not so much. Most people only stay in their jobs for 4-6 years now.
Opportunities for promotion.

Business owner

Tend to get paid for your actions, not a salary or by the hour.
Requires continuous improvement and investments to continue to grow – bonus is that YOU control that part!
As a business owner, you tend to LOVE what you do so it really isn’t work!
You control the hours and effort put into the business and those actions result in your income. It may fluctuate, but done right it should always be getting better.
Scheduling family time is usually easier, especially when its a work from home business.
Having multiple streams of income gives you a buffer if one has a downturn from the economy.
Working from home and for yourself, you can usually bring your business with you. OK, that one is more for those of us who have Online opportunities and can work from anywhere.
If you are a brick and mortar type business, you may have employees you have to pay and equipment that will over time require upgrading.
The brick and mortar businesses are more difficult to pick up and move.

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