Do you find working five days a week exhausting? Do you feel that the amount of money that your company is paying you is not enough? If you have those *thoughts* in your mind then today's question is important for you!
Today is all about whether being an employee or being an entrepreneur is better - whether you should consider starting a business or not
We'll look at it in three ways
1) goods and bads of being an employee
2) goods and bads about being an entrepreneur
3) a way to find out which way is better for you
1) goods and bads of being an employee
Most people knows about working, so no need to dwell on the obvious too much, however we can look at the BIGGEST PROS AND CONS!
PROS - STABILITY - being an employee may be more stable!
Of course you may get still get fired okay and also the amount of salary may fall during times like COVID-19
but in comparison to starting a business or owning a business - you won't have a negative cash flow which means losing money for a business
CONS: LACK OF AUTONOMY it is when you're an employee you have less autonomy you can't control how much your salary increases nor the holidays you get a year okay
there are some jobs where you have a really flexible timing and as a Timetrepreneur we value time cost the most!
2) goods and bads about being an entrepreneur
Starting a business on the other hand is actually really really stressful! A lot of people see entrepreneurs as being successful but however if you look at the statistics 95 percent of the business that opens will fail within the first five years. Statistics don't lie (in most cases)
PROS:
1) potential to increase your income by many fold
2) time autonomy - deciding the use of time
3) interest autonomy - to choose to work in the field you are intersted in and serve the clients you like
CONS:
1) you may lose money
2) crazy high time cost of starting a business is way way way much higher and much more stressful than a five-day work week job
If you really want to start a business you have to ensure you do have it all planned out and also have a financial safety net. You do need a certain amount of savings enough to help you last through difficult times until your business can actually have real growth and maybe ultimately you will be able to have less time cost and have more money than just having a normal job.
3) a way to find out which way is better for you
You need to get a piece of paper or you can just do this in your mind!
You need two numbers - the first number is how much money you want to earn per month the second number is the number of days you're willing to work per week in order to achieve that amount of money
So basically how you consider it would be this - if in the foreseeable future you are 100% sure that the job you're working can reach that amount of money
Let's say seven thousand dollars a month all right and then the number of days would be a five-day work week,
If you think it's a fair amount, you're comfortable with it, to earn that amount of money maybe working at a job is better for you however if either of those numbers are not met so let's say the money is not high enough okay or the number of days is too many you want to work less days then you you have to start thinking about whether being an entrepreneur or a freelancer or a contractor is a better way to go!
There are a lot of slash entrepreneurs right now - they do have a job and then on the side they work for another extra stream of income.
The key of this article is that you know have a method to consider your decision
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