There are two kind of people in the income group. Ones that hold a job and others that run a business. Freelancers fall somewhere in between.
It would incorrect to say that ones that hold a job are always completely satisfied and don’t wish that they wouldn’t start something on their own, and vice versa for the business people. But they rarely make the switch. A majority of them will not switch over because they know deep down that a self run business is not for them, or conversely, working for someone else.
Each kind of work has it upsides and downsides, and is suited to different personalities of people. So what should be your choice?
The statistics on entrepreneurs will tell that 95% of all business startups fail eventually. Thats something. A 5% success rate is nothing to look forward to and definitely not very encouraging.
You hear it being said repeatedly how being your own boss is the USP of starting something on your own. That’s also what the problem is for most people. Being the boss means that you are single handedly responsible for the success of the enterprise. And you will be the one bearing the brunt of the failure just as you will enjoy the rewards for success.
The success of a business depends on a few important things. Two important factors are locale and the scale of the business.
For example, in smaller cities and town, small businesses will do better but will struggle in larger metros. Unless you are in a very niche market.
Then, the kind of business you are in matters. If you are in a developing market, that helps. If you are in a populous place, then people centric businesses like a food business has better chances of success.
Most people are happy getting a good job. It has the reliability of predictability. You know how much money you are going to make every month. Sure, they might not like the boss or their co-workers all the time, but they still pretty much it’s worth the trouble. Not everyone has a streak in their nature to chart their own course and set out with an independent business.
And let’s face it, people with good jobs can pretty much afford all the good things in life.
Freelancing can also very quickly become like a job or a business, depending on how you handle your work. There are people who freelance online. They are free to take up projects when they want to. But usually if they want more work to come their way then they too need to work regularly.
The funny thing is that for most people the choice between taking on a job or starting a business takes place without a lot of conscious deliberation. They just take on the mantle they want to wear.
We would love to hear your comments on which one would you prefer to work with… A job or a small business of your own…