Regarding one’s career, people vary as to how they want to develop it. Some would pursue a position in a business or company related to the field they are interested in. Others will immediately set up a business and work to make it grow. A few may even consider combining both to maximise their growth and finances.

While both options are correct, it will be a hard decision to make if you ask this question. To help you out, below is our short guide on their pros and cons to help you decide whether to apply for a job or start your own business.

Going Into Business

When you start a business, you have complete control over how you can grow it and enjoy your passion at the same time. You can set your hours of operation, offerings and potential expansion. As you learn, you will be able to grow not just as a business owner but also as a person.

However, when you start a business, you need to invest a lot of time and money to get it started. You may also experience several losses and failures along the way, especially as you start out and with the changing nature of the market. Competition will also be high, which can affect sales and production. It can be hard to start again if you fail or the unthinkable happens.

Getting Employed

Meanwhile, getting a job provides stability, which you cannot quickly get as a business owner or entrepreneur. You will be paid a regular salary, enjoy health care and paid leave benefits, and have the company to support you in your endeavours. There is also a reduced financial risk to get started in a position because it is common for companies to provide free seminars and training to their employees. If the job doesn’t work out for you, you can easily find a new job to start again.

But, there are also drawbacks to being employed. First, you don’t have control over the work you must do each day and your schedule. You may work longer than expected and even deal with unbearable colleagues. You may also be unable to enjoy your work because it is not what you genuinely want to do. This would then affect your time to learn more about life and enjoy it. 

When deciding on something as big as our career, it can be hard to say immediately if it was worth it. If you want to succeed on their terms and build something they can be proud of, opening a business may be the way to go. Getting a job is ideal if you don’t want to risk your career and want to have stability.

Whichever path you choose, it will be a challenge at first to be successful. But, if you are determined to succeed and ready to take risks, you can succeed in whichever role you choose to take in the future.

Still hesitating about which path to take? You actually can have the best of both worlds by freelancing. Because freelancing allows you to control your own time, you can keep your current job until you feel that it is something that you will like to take on full time. Check out my Freelancing Guide!