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.

[Victorybit1]

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.

The reality is that no matter how people claim that owning a business is way better, there would still get to be a balance or natural of things and that's the fact that not everyone get to thrive in that space and also people been employees is also a must because let's take for example if everyone is a employer then who gonna work for the company that is employing if everyone wants to be the boss of their own.

No matter what the employee need is important and there will always be people filling up that space to make things or the society work fine

[Fakhrulenclix]

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.

I agree with that because neither can be blamed since everyone has different mindsets and characters when it comes to doing business or working as an employee, and in my opinion, both are correct and cannot be forced because no matter what, a person's character is inherent, and if someone does not have a business spirit, it cannot be forced, and vice versa.

[CageMabok]

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Great point, Everyone is busy talking about the profits of owning a business, but no one talks about the heavy taxation and legal headaches. Sometimes a steady high amount paycheck is way better than the constant stress of keeping a business going.

The problem is, not all companies can afford to pay high salaries to every employee, so some employees find this difficult and start considering side hustles to generate income besides their own salary. I don't deny that people often talk about high profits, as this can often motivate others to work, although on the other hand, everyone also needs to understand taxes and other things that can make things difficult for themselves. But what we need to realize now is that having a job is at least much better than not working at all, because we always need to cover our daily expenses.

[junder]

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.

I agree with you, your statement is an answer that I think is simple but really accurate.
 
Everyone must have their own interests as you said, and if you look at my own environment here it seems that more people choose to work and get a salary besides that I once asked those who were actually able to start a business, and not a few of them answered “don't want to take risks” although some have also done it and failed and some have succeeded.
 
It depends on our own interests, it's just that in my opinion everyone has the desire to have their own business.

[Marvelockg]

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.

Steady pay check can be limiting so I don't consider it  a factor that influences a person's choice of either starting up a business or settling down as an employee.

The main factor that determines if an individual will settle for an already established job or not is wether he's capable of running a business and wether he's also financially bouyant to do so. If you're able to run a business not financially bouyant to start one, you will likely settle down with an already existing job. If you're financially able to run a business and don't have that strength to face the challenges that comes with running a business, it's going to be also deficit to do so. In summary, running a business is actually better than working for someone but running a business is not for everyone.

[Dreadboost]

Owning your own business is definitely better than earning salary, but I also think they both have their own advantage. Salary owners are kind of assured of a steady income from the first day they get employed, but business owners sometimes suffer at the beginning of their business,  because they need time to build the business. It's definitely good to owners a business especially when you business has gotten to where you don't have to seek clients to patronize you. Business owner also have more time to themselves to do other things on like salary earner that don't have that luxury. Business owners also have the tendency of growing wealth unlike the salary earners.

[BitDiscussion]

Not everyone is looking to build a business, while that is definitely something that would be great, I would guess that it would not be something that would be great for everyone and I would assume that the best case would be that we could see how some people like me just prefer salary instead.

Your own business means a lot of responsibilities that is true, but it also means that you have to still make a lot of money for living and can't reinvest your money. This is what I hate about all those "tycoon" games, because in there, you make money and then use that to continue to grow, but what are you paying your food, your bills, your rent, etc etc, like go see a movie, buy a flower to your wife, it is not involved. You may not need money and then start one, but I do, and I can't risk it, because if I do, then how am I paying for everything?

[boumalo]

High salaries exist, invested well while living under your means is a good recipe.

Businesses are the more straight to the point approach.

[GIF-JOBS]

Owning your own business is definitely better than earning salary, but I also think they both have their own advantage. Salary owners are kind of assured of a steady income from the first day they get employed, but business owners sometimes suffer at the beginning of their business,  because they need time to build the business. It's definitely good to owners a business especially when you business has gotten to where you don't have to seek clients to patronize you. Business owner also have more time to themselves to do other things on like salary earner that don't have that luxury. Business owners also have the tendency of growing wealth unlike the salary earners.

Both jobs and businesses have their own benefits  and opportunities. What is right for one person may not be right for another. One of the biggest benefits of a job is a relatively stable income. You get a regular salary in exchange for working a set amount of time. Many jobs may include bonuses, vacations, or other benefits.

An entrepreneur has to go through uncertainty when starting a business. There is no guarantee that starting a business will make more money than a job. One advantage of a business is that there is not always a certain limit to the potential for income and wealth growth. In the case of a business, if an owner can successfully create a product that continuously creates new customers, then the size of the business can be much larger. In the early stages of the business, an entrepreneur may have to put in more time and effort than an employee. If the business gradually reaches a stage where responsibilities can be managed through employees and reliable systems, then the business's dependence on the owner's personal time decreases.
The difference between a job and a business is mainly in terms of stability vs. potential. A job can provide a person with a relatively reliable and predictable source of income, and if a business is successful, it can provide a relatively large opportunity to increase income, time, and wealth.

[Mikky02]

I think which ever ways work for the person not everyone has an idea of running a business not everyone can manage or run a business in most cases is better to earn salary monthly and avoid losses we see a lot of business that has collapsed simply because the owner of the business lack certain knowledge running a business is simply not for everyone. The economy has made it look like salary earners are poor because they will have to wait for a whole month before receiving payment but to be sincere most business owners are also as poor as those earning salary  talking about businesses that lack financial support or businesses that serves as a breadwinner to a family when I mean a breadwinner to a family it simply means the family feeds from that business clothing, housing school fee and every basic necessity the family needs financially comes from the business there is no other sources of income to help the family financial needs such business will suffer and may take many years to grow that business owner is as equal as a salary earner

[trendcoin]

Salary earners end up spending their salary buying from the business owners making the business owners to get profit from the business while the salary earners end up with nothing.

We sell our time in exchange for a salary, but a steady income is an important concept for some people. For example, there are millions of people who could face problems if they couldn’t pay their rent for a month. For example, there are millions of people who could face problems if they couldn’t afford groceries for a month. People who are responsible for providing for their children cannot make this comparison. Because they have greater priorities and responsibilities. If they had an easy way out, they would choose it without hesitation...

[Gentle_Soul]

Salary earners end up spending their salary buying from the business owners making the business owners to get profit from the business while the salary earners end up with nothing.

We sell our time in exchange for a salary, but a steady income is an important concept for some people. For example, there are millions of people who could face problems if they couldn’t pay their rent for a month. For example, there are millions of people who could face problems if they couldn’t afford groceries for a month. People who are responsible for providing for their children cannot make this comparison. Because they have greater priorities and responsibilities. If they had an easy way out, they would choose it without hesitation...

If you should ask me I will think that there is absolutely no need to hesitate in making a choice when I can simply think of the better option if need be it is more profitable if I can look at owning a business and still earn a salary so aside working and earning a salary I can also as well own a business of my own and still make an extra since the responsibilities keeps on increasing on a daily basis.
So weather you earn a salary or own a business I don't think there is a point for comparison, what maters I think is being comfortable with your earning so if your salary isn't enough then you can have a side hustle or probably a private business.

[Tmoonz]

Salary earners end up spending their salary buying from the business owners making the business owners to get profit from the business while the salary earners end up with nothing.

We sell our time in exchange for a salary, but a steady income is an important concept for some people. For example, there are millions of people who could face problems if they couldn’t pay their rent for a month. For example, there are millions of people who could face problems if they couldn’t afford groceries for a month. People who are responsible for providing for their children cannot make this comparison. Because they have greater priorities and responsibilities. If they had an easy way out, they would choose it without hesitation...

If you should ask me I will think that there is absolutely no need to hesitate in making a choice when I can simply think of the better option if need be it is more profitable if I can look at owning a business and still earn a salary so aside working and earning a salary I can also as well own a business of my own and still make an extra since the responsibilities keeps on increasing on a daily basis.
So weather you earn a salary or own a business I don't think there is a point for comparison, what maters I think is being comfortable with your earning so if your salary isn't enough then you can have a side hustle or probably a private business.

It's your choice anyway, if not I'd ask why putting yourself through that much stress while you can just focus on one and be okay, since you believed there's no difference in both options, because the last time I checked there's no way you can compare a salary earner to a self owned business man, like the difference is too obvious, and if I'm to choose amidst these two I will gladly pick owning a business over earning salary, one, by owning a business there's a stage in that business that you will have to hire workers that alone you are creating more opportunities to the next man, and again despite how much you might be earning as a salary compare to Nigeria economy, it will never be enough to take care of your needs, and you will have no time for yourself nor family.

[Bigjoe33]

If you should ask me I will think that there is absolutely no need to hesitate in making a choice when I can simply think of the better option if need be it is more profitable if I can look at owning a business and still earn a salary so aside working and earning a salary I can also as well own a business of my own and still make an extra since the responsibilities keeps on increasing on a daily basis.
So weather you earn a salary or own a business I don't think there is a point for comparison, what maters I think is being comfortable with your earning so if your salary isn't enough then you can have a side hustle or probably a private business.

It is seriously tasking to handle both activities all at once. One must suffer. It's either your business suffer it the more because you wouldn't want to miss pay or work since you are working for someone. Probably, you would put someone in your business to manage it for you, and if you are lucky, it's goes fine, but if not, your business suffers.

If am to choose, it's business. If you don't have money to set up a business, you could work for someone to make some money. It is difficult to save up money though, but because you are determined to make a difference, you try all your best. If you manage to save up money to start up a business, then business is the best because you become your own boss and watch your business grow.

[Youngrebel]

It is seriously tasking to handle both activities all at once. One must suffer. It's either your business suffer it the more because you wouldn't want to miss pay or work since you are working for someone. Probably, you would put someone in your business to manage it for you, and if you are lucky, it's goes fine, but if not, your business suffers.

If am to choose, it's business. If you don't have money to set up a business, you could work for someone to make some money. It is difficult to save up money though, but because you are determined to make a difference, you try all your best. If you manage to save up money to start up a business, then business is the best because you become your own boss and watch your business grow.

Doing both a job and a business at the same time can actually be stressful, most especially if you your need more attention and your business also need the me it will be very hard to cope to me I think I prefer business because once it becomes stable, you have more control over your time and income and the most difficult part is raising the capital and surviving the early stage, but with patience and it will be good.

[Oyoyoma_yu]

Business is good but requires dedication, and seriousness for your business to stand. If you are a salary earner your time is totally controlled by your employer, and in most cases you are tied to your job, and have no time to run any other business. But a business man manages his time, and can handle many businesses on his own, and besides you are totally in control of your fund. If you are a salary earner, you are paid small percentage from the huge profit you made for the company or your employer, and sometimes your salary can even be delayed as you wait for monthly payment. Looking round our various environment, you can see that the most successful people are not salary earners, but business men who are totally in charge of their own fund.

[eightdots]

It is seriously tasking to handle both activities all at once. One must suffer. It's either your business suffer it the more because you wouldn't want to miss pay or work since you are working for someone. Probably, you would put someone in your business to manage it for you, and if you are lucky, it's goes fine, but if not, your business suffers.

If am to choose, it's business. If you don't have money to set up a business, you could work for someone to make some money. It is difficult to save up money though, but because you are determined to make a difference, you try all your best. If you manage to save up money to start up a business, then business is the best because you become your own boss and watch your business grow.

Doing both a job and a business at the same time can actually be stressful, most especially if you your need more attention and your business also need the me it will be very hard to cope to me I think I prefer business because once it becomes stable, you have more control over your time and income and the most difficult part is raising the capital and surviving the early stage, but with patience and it will be good.

Securing capital is by no means an easy task; however, what matters even more is the effective use of those funds once they have been obtained. Failure to utilize capital efficiently leads to wasted time and can hinder the achievement of your goals. It is essential to proceed with great care and a well-structured plan throughout this process.

Everyone wants to start a business and be their own boss, yet this is far from easy. A comprehensive analysis must be conducted before launching a venture, and ensuring the long-term sustainability of the business is crucial.