Entrepreneurship vs job

by Ashvini Kumar Saxena on February 9, 2012 · 15 comments

in Entrepreneurship

Are you an entrepreneur or a wannabe entrepreneur? Do you think you did the right thing starting on your own?

Entrepreneurship vs job

Here is my take on entrepreneurship vs job.

Art vs. Maths

Entrepreneurship is like art. You are never sure whether it will yield the result that you have been looking for. The ending may turn out to be quite different than the way you had planned it.

Job is like Math. First, you concentrate on getting the right education, then look out for the job that enhances your professional experience. Then you work towards getting promotions till you reach the peak of career in terms of satisfaction and capability.The path is logical, traveled many times and  like a simple math equation, parameters are few.

Certainty of pay check vs. none

Entrepreneurship is not really for people who cannot survive without pay check. The entrepreneur makes nothing for months, sometimes for years. He/She toils for what interest her than what pays immediately.

Jobs pay immediately. Within one month of taking a job, one starts getting salary in the account. It is usually fixed and certain.

Incremental vs. explosive

Entrepreneurship is difficult. But it can lead to explosive growth if worked through with patience. The explosive growth can make you rich and famous. Think Zuckerberg, Bill Gates, Steve Jobs and many others.

Jobs are logical increments over time. You start at the junior level and move on to become a senior. A few gets into higher levels. Salary increases consistently with every rise in position.

Passion vs. consistent track record

Starting own venture is about passion. You cannot think about consistency. There is none. Either you make it or you don’t. Your paintings sell or they don’t. Selling is important but passion is more important.

Job is about meeting deadlines consistently. Job is like going from point X to point Y without detour. People with jobs have to consistently meet expectations and in turn get rewarded with promotion.

Diversified vs. concentrated skills

Entrepreneurship is equal to being stranded on an island with a toolbox(sometimes not). You have to learn to design and create your own boat and then escape in it. You need to be multi-skilled if you want to survive.

Job is about getting better at the skill you obtained in your education in. More often than not you become an expert in your area. That is your bread and butter.

Creation vs. continuation

Entrepreneurship is about ideas, creation and developing something new, It is about solving problems in a unique way. It is about thinking out of the box. It is about targeting opportunities.

Job is often about continuation of same work and doing it in much better way. Creativity may be useful but is not necessary for survival. You need to do work on time. Organizations appreciate creativity but nurturing that it is not the priority.

Direct vs Indirect job creation

Entrepreneurs find and exploit opportunities that create thousands of jobs. They look for improvements and then utilize them to start companies that bring in more jobs.

People holding jobs indirectly create job. They take loans, buy houses ,cars. This keeps money in circulation. Businesses invest to fulfill needs of job holders often creating jobs in the process.

Whole day vs. 9-6

Entrepreneurs often lose track of time . They work more than fifteen hours a day. They always have their plates full. They find it difficult to adjust to the demands of family and society.

People in job often work for fixed time and find enough time for their families.

Wealth creation vs. being rich

Wealth is different from richness. Wealth is when you have assets that generate income for you. Rich is when you get a fat salary to spend. Entrepreneurs generate wealth in long term. They may be rich but they are more wealthy than rich.

It is hard to create too many assets with job unless you have a very high paying job. Often people with job purchase two or three houses on loans and then call themselves wealthy. It is not true because they are not wealthy till they clear off the loan and start earning money from those houses.

Adaptability and flexibility

Entrepreneurs are survivors. They know how to survive in worst conditions because they have been there. They know how to utilize whatever they have to create business. They have to be flexible, need to learn new skills in order to get into new lines of business. Entrepreneurs can survive in recession and boom times.

People in jobs often find it difficult to adopt from one skill to another. If they lose their job, they are most likely to apply for another job in same area. Their chances of success depends on availability of such jobs and competition. Boom time brings untold money and happiness to job holders while recession is very disastrous.

Risk

Entrepreneurship is risky. You could lose all your money. You have to plan and move ahead.

Jobs have relatively low risks unless you are working in risky, hazardous job. Even if you lose your job, you will not lose a lot of money and often you will get similar job,maybe at lesser salary but still.

So which is better?

No one can answer but only you. It all depends on your drive, your capacity to take risk, the goals of your life. These are just a few pointers that help you decide.

About The Author

{ 13 comments… read them below or add one }

Ashish Parashar February 15, 2012 at 4:08 pm

Hi,

Very nice blog to give example of dreaming big and then putting it into work. Though it gives feel a good job just assure you of family car somewhere down the line but not luxury one, and Entrepreneurship is what one must look forward to afford much perks…Perhaps yes but then isn’t Entrepreneurship need a good mullah and really good idea at first place..?

Reply

Ashvini Kumar Saxena February 15, 2012 at 10:14 pm

Hi Ashish,

Thanks for your comments. Indeed entrepreneurship is not easy. The pull of regular salary is very strong. However with right planning, anyone can start their own venture. Money is not a criteria because you as an entrepreneur will optimize all resources that includes money .

Reply

Sonia February 14, 2012 at 6:30 pm

Ash I loved this! This subject is something I have pondered many times over. With the economy in its current state unless you have a large fan base and established credibility, going it alone might be suicide. Maybe I like the idea of a “just-in-case” paycheck, but having your own business takes time and hard work. I have seen some bloggers go it alone and I couldn’t be happier for them, but at this time, it’s not the right move for me.

One thing you can do if you’re online is create your own product and that’s what I am working on now. People need a reason why they should buy your product or services and if they don’t know you exist, it can be a long road ahead. Another idea is building a network with the possibility to have a large fan base considering you have product or niche no one else is covering. You really have to think different and “be foolish” to stand out. People have to find value in who you are and can walk away knowing they want to come back again and again.

Being an entrepreneur is very attainable, I just say, stay realistic with your financial budget and plan, plan, plan or you will fail. Great post Ash!

Reply

Ashvini Kumar Saxena February 14, 2012 at 7:26 pm

Hi Sonia,
It is a great comment and I love to hear when you bring such clarity to my post.

Business does take a lot of hard work. Its not easy, its not fast. In project management, there are three constraints, cost, scope and schedule. So if one is fixed , others two will have to adjust. As a small entrepreneur we cannot afford large cost. Thus the schedule gets stretched. We are travelling towards success even though the way is slightly longer. If we have money to pump into business we can increase the scope while reducing the schedule.
The point is with enough planning entrepreneurship can be successful( your point as well ).

Blogging is a great way to attract people. However blogging per se may not be that profitable. I use blogging as a channel to spread my ideas . As for creating products ,they really need a lot of effort. I have been writing my second book for a long time and it will be out in a few weeks. I would also wait for your product. Keep working towards your vision . Best of luck

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Sonia February 14, 2012 at 8:15 pm

A book? That is awesome Ash! Congrats and keep going. I hope to get a read so I can give you my feedback too! Blogging for money is never an idea people should think about in the beginning anyway. It’s a sure fire way to be let down and fast. Having something tangible that people can actually use can make blogging lucrative, but it takes time. I like what you said about spreading your ideas because it’s what we all do daily but once it’s on the internet it is there forever.

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Aswani February 13, 2012 at 7:57 pm

Thanks you for sharing this insightful post. Very useful and informative. Did learn a lot. btw, your blog page speed has improved like anything…loaded so fast…Keep it up :)

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Ashvini Kumar Saxena February 14, 2012 at 7:27 pm

Thanks buddy. Yeah the page loads fast. It was hard work but fruitful in the end :)

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Simon Duck February 13, 2012 at 4:36 pm

Very good round up of which path to choose in life.

It shows how difficult being an Entrepreneur can be, but at the same time shows how rewarding it can be. I think many of the points depend very much on what you are doing. If you have to build from the ground up to make sure you are generating money, you will spend more time, be more involved etc. If you design something which creates a brand for itself, you can relax a bit more (well not worry about getting there, but worry about staying there!) Catch 22 ha.

Regards,
Simon Duck

Reply

Ashvini Kumar Saxena February 14, 2012 at 7:31 pm

Hi Simon,

Nice to see you once again.

If you have to build from the ground up to make sure you are generating money, you will spend more time, be more involved etc

This is perfect. If you have got more money then you can make your business move faster. However success can be achieved in both ways( a lot of money or very less of it). I think patience pays a very strong role here. Do one small thing, one small addition every day. It is all going to add up one day:).
Thanks for your comment and have a great day

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Rachit February 9, 2012 at 10:01 pm

must read for wannabe entrepreneurs like me… I solely agree with you.. very informative & artistically written :)

Weakest LINK

Reply

Ashvini Kumar Saxena February 10, 2012 at 5:20 pm

Hi Rachit,

I am really happy that you found this useful. Thanks for your comment :)

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Bill Dorman February 9, 2012 at 9:54 pm

Can you have both? I have been with the same corporation for 28+ years and whereas I am one of the owners I am not involved in management. However, my job is commercial insurance sales so I answer only to myself. I have to have enough of an entrepreneurial spirit to go out and make it happen. I do not have a guaranteed paycheck, I am 100% commission only and have never had two paychecks the same.

I get all the benefits that come with being part of a large organization and I get the freedom to do my own thing; pretty sweet gig, huh?

Reply

Ashvini Kumar Saxena February 10, 2012 at 5:18 pm

Hey Bill,

You are one lucky person :) .
I feel everyone has to look for what works for them. For some entrepreneurship works good others want to be in job. There is a lot of soul searching needed when someone makes a transition to the other side.
If you are the part owner of business and also an employee and you like it , then its great.
In US I have seen people staying long in jobs. In India it is a challenge sometimes to cross two years and come out smiling. Younger generation is more ambitious and thus attrition in new tech industry is really high. People from older generations stayed in their jobs for entire lives. They did not have so many options back then.
Even for business there were not so many options ten years back. With the onset of Internet, I can see a lot of startups and bloggers trying to make their mark.

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