Last Updated on July 17, 2023

Do you want to work a job or start a business? This is a challenging question that many people face today. There are a lot of variables that come with answering this question. No one answer says one is better than the other it all depends on you.

Money

They say that business owners make more money, but that is not necessarily true. If you have a job for ten years and make $100,000 a year, that is a million dollars in ten years. According to the Bureau of Labor Statistics (BLS), about 20% of new businesses fail during their first year, less than 50% survive past the first five years, and about 65% fail by the tenth year.

Most businesses take years to profit, and you invest your money into it. Which you might run out of before you turn in a profit. At a job, you can simply ask your boss for overtime or transfer to a higher-paying company. By running a business, you have an opportunity of the business generating money. Even when you are not there, and lots of it.

Why

Successful entrepreneurs don’t start businesses to make a lot of money. They form a company to solve a problem or to create a change in the world.

When I ran a business that ultimately failed. I enjoyed every minute of it. However, the market shifted, and I lost the company. When I worked as a computer technician, I had job security as a tradesman. I knew I could transfer my skills to another company. However, I didn’t enjoy it as much. There is a risk of both financial and huge time sacrifices. In the end, it should come down to what you want more.

Time

In some businesses, you can reach the point where you don’t have to be there. The business will generate revenue for you. With a job, it would be easier to do if you save and invest all your money for an extended period and put in a lot of overtime. With a business, it could be shorter.

However, and life experience, it is better to find a job you enjoy doing, and you should use that as your determining factor. Not money or the time you will spend. If you can find something you enjoy. Even if it will take a lot of time, go for it.

Otherwise, if you don’t want to change the world and solve a problem, then stick with the job avenue. Let me know in the comments which is better, running a business or having a job.