Deciding on a career path can be one of the most important choices we make in our lifetime. A career that we’re not only successful in, but also enjoy doing will affect all aspects of your life in one way or another. But do we explore all the options before making a decision?
The average person will switch career paths several times within their lifetime for various reasons. Over the last few years there has been a lot of discussions throughout mainstream media, blogs and social media whether being an entrepreneur is better than a traditional 9-5.
Employee vs. Entrepreneur
One question that may get ignored by many people looking to start a new career, or simply entering the job market for the first time, is whether or not they want to be an entrepreneur or an employee. In fact, most people struggle with the difference between the two because they only saw employment as the choice that was available for them.
We are often encouraged to find a great job, and many of us don’t think about creating our own employment by becoming a business owner. Knowing the difference between employment and business mindset is crucial to understanding which option would work better for you as an individual, and how being an employee or a business owner can suit your own personality and goals.
The definition of an entrepreneur is someone who “undertakes an enterprise.” An entrepreneur is someone who starts a new organization – a business, or takes on an existing organization with the intent to rejuvenate it. Entrepreneurship most commonly establishes in the form of self-employment.
Entrepreneurship: Is it for you?
For those who are determined, who want to take on a challenge, want more control of their time and money, and thrive in the anticipation of building their own future, taking the empire-building path may be the best choice. However, as an entrepreneur, you will be responsible for all of the financial costs of the organization, for marketing and promoting yourself, and for gaining your clientele. Entrepreneurs’ days don’t go from 9 am till 5 pm, and they are always working on ways to improve their organization. In addition, the entrepreneur can also be held legally liable for the organization, which is a personal risk, as well as a business risk. Here are three benefits of being an entrepreneur.
1. You can create something on your own – For many of us, having something we created from the beginning that brings value to the world gives us a sense of pride in our work that we may not have had before.
2. Do what you love – This is one of the most intriguing aspects of being a business owner, because we can actually do what we love to do.
3. Being financially free – This is many entrepreneurs dream to have more free time and have the ability to still be financially free.
Benefits of 9-5
Working a 9-5 usually gives us income stability to have things in life we at least need in life. We can provide for our families, pay our rent or mortgage. This career often times gives us security that many of us are seeking to be able to live in a stable in environment. Here are three more benefits of having 9-5 career.
1. Lesser stress – As an entrepreneur you have the responsible of your entire organization, but as an employee you just have to focus on your specific job. Although a lot of 9-5 careers can be stressful but being an entrepreneur is one the most time-consuming things we can ever do.
2. Better relationships – If you’re in a traditional 9-5 career you have more free time to spend with your significant other, family and friends. This gives you the opportunity to not miss those special moments in life that so many entrepreneurs tend to miss.
3. Lesser risk – Entrepreneurship is prone to a lot of risk, unlike stable careers. There is no guarantee that you will start making an “x” amount of money after “y” amount of days, or even years.
Final Thoughts
Nowadays, even those “stable” careers are susceptible to a lot of risk, given the statistics of the number of people who let go due to lay-offs and budget cuts. So, this is a matter of the degree of risk when you compare employment and entrepreneurship. Will you lose more if you lose your, or if you fail to do business as an entrepreneur?
Which do you prefer? Entrepreneurship or the stability of a 9-5 job? What benefits do you appreciate from each work arrangement? Comment below and if you enjoyed this article please share!
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In my own view entrepreneurship is still a better option, but there is nothing wrong starting as an employee if there is no enough capital. If there is enough capital, you can summon the courage and start as a company/business owner, but I think it is wise to start with the 50% of the money, don’t put all your eggs in one basket. You may not have the capital, but the most important factor is that there must be an idea to start a business and don’t let it die, as you continue as an employee in search of the capital to start your own business. Work to learn as an employee, the money would definitely come. Jaycolby, this is a great debate that can change the life of anybody that reads this. Well done!
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You make some great points thanks for sharing your perspective.
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You are welcome!
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A very big question 9-5 or entrepreneurship? Life itself is a risk so I’d say do what you have passion for. You can learn the ropes while planning and putting things together to start your own business.
I look forward to having my time free to manage as I wish… Let’s see how that works. Great post Jay.
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You make a great point. Thanks for sharing & reading!
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An excellent and fair analysis.
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Thank you!
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I would agree a fair analysis. I would love entrepreneurship! Writing for a living 😊
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I understand that is a dream of many. Thanks for reading!
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This is another great one Jay. Wow, such wisdom.
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That’s a tough one. I like being able to make my own hours, but I don’t like that my paycheck is not consistent. I am going to stick with what I am doing I think 🙂
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Personally entrepreneurship wasn’t for me, but I have quite a few friends who really enjoyed theirs. I am definitely a 9-5 type of person.
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I’ve always seen myself as an office person. After my career in programming, maybe I’ll do some carpentry and sell some wood works.
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Although the 9-5 can be much more reliable and stable I feel myself leaning more towards the entrepreneur side. I like the idea of really working hard at what I love and watching it grow.
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There are a lot of great benefits to both options. I think that in the long run it depends on the individual and what they prefer.
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As a mom of 2 kids I like working from home for myself. I am not stuck to the 9-5 and free to do as I need/please. But I know that doesn’t work for everyone. Also has down sides from a corp stable job such as the healthcare benefits you don’t get working from home for yourself
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I love the entrepreneur life! I believe that we should always dream big and not limit ourselves!
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I think I will always want to be an entrepreneur. I was an employee for many years. I enjoyed it but I like doing things on my own,
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I’d prefer the 9-5. I currently work at home though so I set my own hours. My husband is in the military so his hours are all over the place. I don’t think he’s ever had a 9-5.
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I am more of an entrepreneurship person. I cannot live by the 9-5 work time frame. I love the freedom of entrepreneurship and also taking full responsibility for your actions
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I am an entrepreneur but it can be stressful, especially like you said because income is not stable. That being said I do like being my own boss. I work another job during the week but I have cut the hours down 🙂 x
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Honey! I just quit my job and now I’m losing my mind. Smh. It does take discipline to get up and make money daily.
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ENTREPRENEUR all the way
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And even in the jobs where there is security there is often little ability to move up within your positions. Its been hard out there no matter what these days unfortunately.
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Good ompare & contrast between the two. There are significant aspects of both that I’m not equipped for and which are a perfect match. Maybe a partnership?
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The higher the risk, the higher the returns. Entrepreneurship is associated with higher risks, but the rewards can be truly exponential..
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Great topic! I understand both sides, but I prefer to have my own business. Entrepreneurship is not for everyone.
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I’ve come from the 9-5 side and am currently pursuing the entrepreneur path. I think I am working better as my own boss simply because I function on a creative level and most times a 9-5 just doesn’t feed or nurture that very well.
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I have done both and I can honestly say that working a 9 to 5 can be easier if you are not as determined of a person. You have to work hard and go get your money as an entrepreneur instead of counting on a check.
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I think I’m middle of the road, if I found the right fit for me working for someone else I won’t totally do it. But I will always have my own something on the side.
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I guess if you can be an employee and at the same time employer by owning a small business will be a good idea but for sure it will be hard in the first.
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The best way to find your career path is by following your passion.
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I would love to work for myself, but I don’t have the desire or time to commit to entrepreneurship. It’s a full-time commitment to grow your business and let’s not fake the money it requires. I think if you have a passion for it do it, but I like my 9 to 5.
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I agree especially if you don’t have passion for an entrepreneurship. Although you can do both work a 9-5 and work on your business after work. Thanks for reading!
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Owning your own business can be extremely time consuming and draining. But I guess the same can be said for some 9-5 jobs too. As I’m raising my kids, I encourage them to think about one day creating a business. I think sometimes a job can give you the experience and skills you may need to be a better entrepreneur.
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To be a business owner is a better option as long as your lifestyle dreams and goals line up with such a choice
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By far one of my favorite movies. I have not seen the series. Looking forward to watching
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I am an entrepreneur and I love doing all by myself. Can be seriously stressfull sometimes, but satisfaction is enough to pay all the work!
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It would be nice to own a business if you know that you can handle it. Some people would rather be an employee. It definitely depends on what benefits you as a person more. If you’re not comfortable with being a business owner, then just be an employee.
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I’d say entrepreneurship and truly creating something you love. Good
Blog post. 🙂
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If I could choose I would say entrepreneurship but at this point in my life, my 9-5 is simply funding my goals to have my own 100% of the time.
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This is great. A lot of people need to understand the pros and cons. And people can always use the 9-5 to fund their business in the mean time.
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To be honest, as much as I love the idea of working for myself, at this point in my life it’s more beneficial to work the 9-5 job for the stable paycheck. I do have my own side hustles though to help maintain my sanity and get me closer to my magic number so I don’t have to work the 9-5.
The equation, Passion Income – Living Expenses = Zero/Financial Freedom, is a great one to keep in mind.
I mentioned “magic number” earlier in my comment. The concept of the magic number usually refers to how much money would it take to get your debts completely paid off. For me, the magic number is how much money would I have to save up to live off of until I can pull money from my IRA at 67. It’s a large number, but at least it’s a real concept now and not a fantasy.
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This is such a good read full of super important and helpful information. Thank you!
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