Are you confused about whether to become an entrepreneur or an employee?
Startup or Job? Which side of the table do you wish to be?
In the present era when a startup is a popular option, many youngsters are confused if to start a startup or go for a job. They have an unclear vision. A startup might seem like a luring option from the outside. But it isn’t the case.
Both sides have their advantages and disadvantages.
What your mind is prepared for? Is your mind startup-ready or do you dream of being an important member of a well-established company?
Below, I have compared both — startup and job. This will help you in making your decision. Choose wisely, and make a great future for yourself.
If your morning starts with a debate on, Startup vs Job? Which is better? Then this is the right article for you.
1. Job vs Startup: Eligibility
Job and startup, both require different skills.
You can’t claim to be capable of handling every desk of an office. Neither can you smash into any company and demand them to let you do any job that you want. You need to be a deserving candidate for it. The educational qualification and eligibility criteria need to be fulfilled.
Jobs in the sector of Artificial Intelligence, manufacturing, computer science, etc. require complex skills acquired by years of hard work, education, and experience.
Thus, getting into a high-profile job demands education, experience, effort, passion, and dedication. The person needs to be adaptive to the work environment and the work process.
Whereas, starting a startup doesn’t compulsorily need academic education. But, you need to have an idea that you believe in, creativity, passion, dedication, and interest in the field you are working on. It demands the right mindset, endurance, leadership, and team-management skills. You have to have full control over your daily routine, which may get very random if not managed properly. You don’t need to be adoptive, rather you are free to create your work environment and work process, which may not always be effective.
So, before choosing between a job or startup; check your potential and try to find out what you are made for!
We conducted a poll on LinkedIn to find out what people think they are made of, and here’s what we found:
Poll outcome:
Around 57% of people believe that they are made for startups, which explains why 6,27,000 businesses start each year.
However, if you think that startup is the first preference of every individual, then you are wrong! The poll shows that 28% of people think that they are made for a job. That tells us that startup is not just something everyone can’t do, it is also something that everyone doesn’t even want to do.
Furthermore, 16% of people are not sure whether they are made for a job or a startup. The poll tells us that it is not about startup vs job or job vs startup, you can’t compare between them both. It is about what you are capable of and what suits you.
2. The Risk Factor
Job is much safer than a startup. It can provide good family support and fulfill basic needs. There is no risk of losing anything. You get paid regularly no matter whether the company is at a loss or profit. Job termination is the worst that can happen, which can be compensated with another job.
However, keep in mind that startups are full of risk. Your idea can fail to work, or you fail to build a market, or your team collapses. The risk level is highest in the beginning. You may have to live under years of financial stress. Many startup founders end up bankrupt, destroying their life’s glorious years.
Therefore, for building startups, you must have extraordinary risk-management strategies.
3. The Level of Hard Work
Both demand hard work whether it’s a job or startup. But there is a difference between the kind of hard work you put into a job and that you put into a startup.
When you work hard at a job, you are working for others. To make others grow. They give you a portion of their task. And, no matter how hard you work, it’s always others who will earn more credits. In jobs, your hard work is rewarded as an increase in salary or promotion.
And, in the case of a startup, your hard work pays you back the satisfaction of success.
However, it demands an unpredictable high amount of effort and involvement. The worst part is; you are not even sure if your hard work will bear fruits or not. Thus, you also need a high level of passion or desire to make it happen. Hard workers who are passionate about transforming their startup ideas into reality ultimately hit the goal.
Here is a startup curve to explain how startups work
As a founder of a startup, you have to build yourself as a pillar that holds up the burden and gives an environment for other members to contribute to their role. In the initial days, you and your team often might have to kill their sleep to keep the startup alive and growing.
Conversely, a job demands constant hard work and gives a constant level of reward.
4. Bank Balance
Who doesn’t wish to have bank balances in millions? And therefore it becomes obvious to ask which between a job and startup can make this a reality.
Do you know anyone in the “Top 10 Richest” list who made it there due to a job? Even the most paid jobs of the world cannot land them there.
Keep in mind, a job means working for others. And, working for others means having a lower bank balance than those whom you are working for. But that doesn’t mean that every startup ends up having millions in their bank. Some end up bankrupt, while the majority of startups fail to make a constant profit.
Jobs are good to pay your regular bills or other regular expenses. It can give you economic stability. It never takes you to the negative side of the financial situation.
With Startup, your bank balance follows your business profit however you will miss job satisfaction the days you can’t generate funds. A startup can take you to build a dream empire, live lavishly or can make you empty handed or even bankrupt.
Rich Don't Work for Money! Money work for them
Do you wish to learn the secret of making and saving money? Read one of the best sellers and personal finance advice books for game-changing lessons on richness and wealth.
Buy now and read!
5. Independence vs Dependence
You are your boss when you have a startup, whereas you have to obey your superiors in your job.
And therefore the independence and freedom are higher in startups than in jobs. But before you go on an imagination tour, I warn you not to assume that independence and freedom are always that easy and better. You give full independence to your kids, and they turn crap!!
With independence, comes responsibility. Your startup offers you full independence, and in return demands full responsibility as well.
In startups, you can value your as well as others’ ideas that you find useful. Startups let you try new ways. But in jobs, if you don’t get decent team leaders, your ideas and opinions get crushed under the hierarchies of the industry. And sometimes it doesn’t even matter. You should consider all the points before getting a job. You can try talking to a friend about their job experience.
So, if you think you are full of ideas or have a startup idea that you want to work on then you should implement your startup idea. Don’t expect any industry or company to test your big business ideas because most of them hardly care. Further, if you test your idea yourself, success and achievement will be yours.
6. Work-Life Balance
Work-life balance is always needed for a happy and fulfilling life.
Since jobs have fixed work-timing. You are accountable for specific tasks, which can be completed in the office itself. So, you don’t need to take your work home. Therefore maintaining a work-life balance is much easier in a job.
You get enough time for your family, gym, friends, sports, and recreational activities. Further, many companies give free vacation trips to their employees, which is another plus factor.
But, when you have a startup, it’s always in your head, round the clock. You need to look after everything from management, product, marketing, sales, as well as your health and family. And, without proper timing, and strict self-regulation, you may shatter your health and relationships.
7. Investment
For a startup, you need to manage funds for investing whereas a job doesn’t require any financial investment. With investment comes risk. If you are willing to take that risk, then starting a business is the right thing for you. If you want to gain financial stability or job security, then getting a job is the right option for you.
While a startup involves an investment of finances, getting a good job requires a degree, skill, experience as well as great communication skills. To get a high-paying job, you need to have all these things, or else you might end up having a job that doesn’t pay you well.
Conclusion
Jobs are often frustrating, startup is hard. Which way to go?
This confusion is not easy to resolve. But, you must ask yourself; where do you want to see yourself in the next 5 years? And, try to search out the answer and ways to achieve.
Both jobs and startups are great in their ways. And, both have hurdles. You need to be a hard worker, passionate, creative for both.
But what matters in both is YOU.
If you have a startup mindset and resources. If you are a problem solver and like to build your ways. If you dream to live like an entrepreneur but are still choosing job security then you are doing injustice to yourself. You might end up regretting later.
And Conversely.
If you have a good work ethic, determination, flexibility, and other corporate skills, which can take you to a high position in the corporate industry and you choose to go for a startup, you would crash down, ending up nowhere.
So, the final answer to the question between Job and Startup is within YOU. Self-examine, self-evaluate, listen to what your mentors have to say about your abilities. Read about entrepreneurs, and find out if you can draw any similarities between you and them.
At last…
I would like to hear from you. Which side of the table do you wish to be and why? Answer in the comment.
This is a great post man. You nailed it!
This is truly informative and educative , it’s a great article.
Hi this article is great , I will keep on reading .
your this blog is a reality check and provides the difference and the dedication to those who are thinking for startup. keep it up!