Job vs entrepreneurship? Which is better? A job pays a regular salary and there’s no financial commitment involved. You trade your time in a job, and whatever your situation or experience, a job can give you an instant income, if you can find one.
Entrepreneurship on the other hand is a means to escape working for a boss, or having a job. It requires investment and commitment and there’s no guarantee of an income. Entrepreneurship is more risky in that regard, but many people have reached the end of their working tolerance and look to entrepreneurship as a way out of being an employee!
An online business is one of the best ways for employees to become entrepreneurs. Access a free video series to learn more about online business here.
Job Vs Entrepreneurship
Entrepreneurs invest in their businesses in both time and money. Long before they are profitable, they often work long periods with no financial compensation for doing so. Entrepreneurs create value through some product or service they provide. Affiliates, for example, use marketing strategies to promote other people’s products online. There’s no guarantee of income through entrepreneurship like there is with a job. A job pretty much guarantees you a certain amount of money, for trading a certain amount of your time.
Entrepreneurship can be a way to increase your income through leverage. With a job, the only form of leverage is your time. If you stop working, you stop getting paid. With a business, you can create leverage through systems and by using products and services instead of your time. This can, over time, give you more freedom and ultimately entrepreneurs can generate time and financial freedom without a job or a boss.
Not all would-be entrepreneurs are successful. In the affiliate marketing space, which is a product referral business, many would-be affiliates quit shortly into their entrepreneurial journey. See affiliate marketing failure rate. It takes a huge commitment to become successful as an entrepreneur, but the stakes are high and it can lead to greater choice and freedom.
Trading Time For Money
The rate of employees quitting their jobs is at an all time high in the US (see above). Trading your time in a job gives you your basic needs, but you’re stuck trading time for money, often at the whim on an unruly boss who has no respect for you.
A recent poll conducted by Gallop showed that 85% of employees dislike their jobs, many citing their boss as the main reason. Once you an in a job, and start living to your means, it can be very difficult to quit. If you have built your life on a job over a longer period of time, you’re often more trapped by it because you become dependant on it. Especially if you have started living beyond your means and accrue debt.
Many employees are looking towards entrepreneurialism as a means of escaping the rat race and becoming their own boss.
Ideal Scenario – Job & Entrepreneurship
The ideal way to begin your entrepreneurial life is while you still have a job. A job gives you the income with which to build your entrepreneurial life. The fastest way to become an entrepreneur is through starting an online business.
Anyone can promote and sell other people’s products online without any product or service of their own. But to do so takes time and effort, and will involve long periods without making any profit. Building a business takes time and effort. Much of the systems of an online business can be automated which means you can set them up to work around existing employment. Work around office hours until you have built up some regular income from your entrepreneurial endeavours.
Once your regular income exceeds that of your job, on a regular and consistent basis, you are in a better position to quit your job and go full time with your business. But you don’t have to! You have the choice. Without a side “gig” you will forever be stuck trading time for money.
Online Business Benefits
One of the main benefits of an online business is that you can work on it around existing employment and build it up over time. An online business can give you a passive income too. By using automation and through the selling of other people’s products and services online, anyone can benefit from an income which can ultimately be automated and scaled to a global audience.
With recurring commission affiliate programs, you can earn an ongoing income from previous sales. This income compounds over time the more products you sell and can eventually replace any existing income you might have. This takes time and effort, and income is never guaranteed. But once you understand how to sell a single product online, you can sell many more. Over time, especially with recurring income affiliate products, this income grows exponentially.
Although an online business can give you the freedom to live anywhere and become financially independent, there’s no guarantees. With a job though, you’re potentially stuck with a limited income which you’ll never escape by trading time for money continually.
Job Vs Entrepreneurship – Summary
A job is a great way to earn money by trading time for it. Entrepreneurship is a great way to become free of a job by using products instead of trading your time for money. Through the use of systems and automation, anyone can use the internet to generate an income over time.
An online business takes time and effort to build and there’s no immediate results. So many online business owners quit because they don’t see anything happening immediately. But entrepreneurship isn’t like a job. You don’t get paid just for turning up. With the business model of affiliate marketing, for example, there’s performance related pay. So unless you actually sell products online you don’t get paid.
The best way to build an online business is while you still have a job to support its growth. Once your online income overtakes that of your job, you’re in a good position to decide whether you want your job or not!
Access a free video series to learn more about online business models. So which is better? Job vs entrepreneurship? You decide!