If you ask me this question or anyone else in a similar situation, you won’t get a clear answer.
Both job and business have their advantages and disadvantages. It would be wise to have a side by side comparison considering both the benefits and the drawbacks, and then decide what practically works out better for you.
I will try to do a short comparison between being your own boss and being an employee.
- Security – With a job comes financial security. You get stable income monthly which eventually pays up all your bills and/or mortgages.
- Hike – Based on the performance or your work experience, you get a suitable hike which again helps you manage inflation rates and keep your life going normal.
- Low risk – Since you are not on the investing side, you don’t lose anything actually. In-fact you gain experience and can always find the next one with your experience.
- High Rewards – When strategically planned and executed your business will reward you with an higher income when compared with a regular job.
- Scalability – You can scale the business whenever there is a chance to do so and get to a better financial situation, unlike in a job where you wait for an hike.
- High risk – The risk involved is higher but everything comes down to proper planning and execution.
- Boss – You will be your own boss. You are accountable for all the business decisions and growth is in your discretion. You reach an higher level only when you are self-disciplined and act accordingly in a time manner grabbing every opportunity that you can handle.
- Freedom – You are the boss, so all the time is yours when you are finished with your tasks (or outsourced) and take breaks to live life the way you desire (Only if you are done with your business tasks which requires a lot of self-discipline).