Earning salary or owning a business which is better

[ASloveapg]

But I have a lesson from real life that if you don't manage your business yourself and give the responsibility to someone close to you, then that person close to you will destroy your business. You have to manage the business only yourself and have the most responsibility for yourself, relying on others means destroying your business.

You have a business and you give the responsibility to someone close to you, of course there will be no discipline in that business That is why some people prefer external bodies to work for them instead of employing those who are close to them and those around them will be feeling that maybe he doesn't want to help them but they don't know the reason behind that act, some are just doing it with the experience gotten from other people. Although some close friend can be very careful and serous when it comes to business but they are very rare that is why some people prefer looking for outsiders to come work for them because they know they can discipline them if they did something bad.

Sometimes allowing your family to manage your business is the best/ right decision to make, but in some cases allowing them to manage your business is the worst decision ever. I know that it going to be very hard to discipline your family if they did anything wrong, so because of these, some will respect themselves, while some will misuse that opportunity. You can give them that opportunity, or give the outsiders that chance, but depending on the level of trust you have for them.

There are some advantages in taking responsibility in a family business because here we can learn everything about the business from our own family members and it creates a clear idea among us. However, in a family business, general importance is given and the future of the entire family depends on its success. There is more trust in our own family members than in external employees, so a business can be sustained for generations.   if someone in our family makes a mistake  we cannot take strict decisions on him . but if an employee makes a mistake or does something wrong, we can take action against him. Even if a family member is incompetent  we cannot exclude him from the business . which can damage the business. Apart from this, a sense of entitlement can also be a problem. If a family member is competent and responsible, he can be given responsibility for the business. It should be remembered that the most important thing in running a business is to make decisions based on clear imagination and competence. It is not possible to sustain a business with trust alone, and competent management is equally important.

[2stout]

It depends on the individual and mindset.  If one likes to work for themself, is not risk adverse, and has a business mindset, then perhaps owning a business would be a better fit.  However, if one prefers a steady paycheck, is risk adverse, and has an employee mindset, then it would seem earning a salary would be the path forward.

[DanWalker]

It depends on the individual and mindset.  If one likes to work for themself, is not risk adverse, and has a business mindset, then perhaps owning a business would be a better fit.  However, if one prefers a steady paycheck, is risk adverse, and has an employee mindset, then it would seem earning a salary would be the path forward.

In my opinion, nobody really wants to be an employee or has the mindset of an employee. Most people want to own a business and be their own boss.
But the funny thing is, most of them dont dare step out of their comfort zone, unwilling to face risk. They want the reward of a business owner while keeping the security and stability of an employee.

That's why everyone says owning a business is better, but most people choose to be an employee.