Telling people that it’s always better to have your own business than to have a job is bad advice. That advice is condescending and insulting to those who find contentment in their jobs and irresponsible for those who do not have the means or the temperament to run a business.
Frankly, I’m sick and tired of these so-called personal development “gurus” making people feel bad and playing into their people’s insecurities about money. They give a big spiel about how bad it is “working for the man” and how you have to achieve “freedom”.
And in doing so, they give people a romantic notion of having a business that does not square with reality.
So, today we will discuss 5 reasons why it’s better to have a job than running your own business.
5 Reasons Why Jobs Are Better Than Business
1. Job Is More Secure
Security is the #1 reason people have jobs. Now, some personal development gurus will tell you there is no job security. And in this economy, it sounds like the right advice. I mean, you could get laid off at any time.
But does that mean starting a business is that much more secure? It is a bitter fact that most new businesses go under within 2 years.
Most people keep their jobs longer than 2 years. In a direct comparison, a job provides way more security.
Lose your job and you can find another one. Lose your business and you could lose your house or entire lifetime earnings.
2. Job Provides A Steady Income
If you cannot handle the income swings of having a business, then a job is way better.
If you are someone who does not have the temperament to handle financial insecurity, then having a job is right for you.
A big knock on earning an income is people saying you’re a wage slave.
And the funny thing about this is that using the term wage slave to talk about people who earn income through labor goes back a long way—all the way back to slave-owning societies.
3. Work Fewer Hours
I bet those personal development gurus never told you that you’ll work fewer hours at a job than with your own business, did they?
Nope. They tell you how they work a few hours a week and rake in the cash.
If you have a business, you work ALL the time. You are on call 24 hours a day when you run a business. Yeah, you may set your own hours, as long as you set them to 24 hours a day.
Your boss calls you at home a lot? Well, your clients have NO PROBLEM calling you at home. And honestly, in the beginning, you cannot afford to have them NOT call you at home.
4. Fewer Headaches
Do you think it’s bad working for one boss? Imagine that you have 20 bosses. Try 100. Try 1,000. Well, your clients are your bosses and they tell you exactly what to do.
Sure, you can choose whom you can work with, but really, how many clients do you think you will turn down when they pay? Be your own boss?
The self-help “employment is bad” gurus tell you that you can just choose different clients. It’s true. Once you’ve established your business, you can work with better clients. But it takes time.
And with the aforementioned cash flow problem, you may not have much choice. The world doesn’t always work like that. And we all know it.
Let me hammer this in your head: you always work for someone—whether it’s clients, customers, or the government—you do work for someone.
And then there is this worst boss ever you’ll ever have to deal with —YOU, Yourself!!!
5. Low Risk
You can’t lose your house when you lose your job. Well, that’s not the case in loss from business failure.
Some personal development gurus tell you having a job is too risky. Let’s see, how do you get money to start that business? Either you take it from your savings or borrow it.
So, if your business goes under (most do), you wither lose your savings or default on a big loan.
Have you ever lost your life savings by losing a job?
You take a much bigger financial risk when you start a business than having a job. Anyone who tells you any different is trying to sell you a get-rich-quick product.