Introduction –
We should choose-Job vs Business depends on preferences, risk tolerance, financial goals, lifestyle, evaluate factors like stability in life. What should we do ? a job or business, it depends on how our mindset is. Because if you like to doing do the business then it is not necessary that other person should also do the business. How did you get the environment since childhood, how educated are your parents, how much do they earn.
Whether they do business or job ? what is the thinking of the society in which you live. How much you have been educated, which school did you go to. In which city you grew up, these so many things also matters. To do the right thing at the right time, it is necessary to have the consciousness of your intellect.
What is the difference between Alphabet CEO Sundar Pichai or an executive of Reliance Company and Elon Musk, Lyari Page or Mukesh Ambani? If the executive of Reliance is so intelligent then he should have his/her own company like Mukesh Ambani? Why does he work for salary? The reason for this is the combination of mind set, courage, knowledge, good will, leadership ability, ie entrepreneur, this quality is more or less in all.
Accordingly, big businessman and small businessman are prepared. Even in the job, mind set, intelligence, education, courage is a mixture of these, but less courage than a business person and a mindset to live a safe life. Next we explain money and property, characteristics of business, features of the jobs, its types, their drawbacks, its advantages, analysis, success rate, who has control over the market. I will tell all these things to you, you can decide which category I can come in and I have said today, what should I do next.
What is the difference between money and property?
The European-Italian economist Wilfried Pareto first presented the analysis of money and wealth before society in the 19th century. With this you will know that who rules the market. OXFAM of WORLD ECONIMIC FORUM published the data and told that 2153 billionaires of the world have more wealth than the total wealth of 4 billion 600 million people. And all that is the billionaire business mindset, there is no person working on it.
This proves that money is attracted to those who have property. Money works for the people doing business and the person doing the job works for money. In this, those people who create jobs and business wealth become financially successful. Wealth creation is the part of business creation and patience, courage, leadership, business culture these are the qualities of entrepreneurs.
Whether you are doing job or business, you need to know this difference. If you create wealth, then that property earns you money day and night. If you don’t build wealth, you run after money for the rest of your life. The compound effect magic is the key to growth in business and how to avoid inflation and taxes in life is the qualities of businessman.
Types of Businesses –
1) MULTI NATIONAL COMPANIES – FOREIGN COMPANY
2) PUBLIC LIMITED COMPANIES – LISTED COMPANIES
3) ONE PERSON COMPANIES – LIMITED LIABILITIES
4) PRIVATE LIMITED COMPANIES – MORE GOVERNMENT COMPLIENCES
5) LIMITED LIABILITY PARTNERSHIP FIRM – LLP COMPANY
6) PARTNERSHIP FIRMS – UNLIMITED LIABILITIES
7) PROPRIETORSHIP – UNLIMITED LIABILITIES
Types of Jobs –
1) GOVERNMENT JOB – Govt Jobs
2) Multi National Company JOB – Job in foreign company
2) Public Limited Company (GOVT.) JOB – Low Government Jobs
3) PUBLIC LIMITED COMPANY JOB – LTD COMPANY JOB
4) JOB IN ONE PERSON COMPANY – ONE PERSON COMPANY JOB
5) JOB in Private Limited Company – Private Limited. job in company
6) JOB in Limited Liability Partnership Firm -LLPJobs in the company
7) JOB IN PARTNERSHIP FIRM – JOBS IN PARTNERSHIP FIRM
8) JOB IN PROPRIETORSHIP – JOBS IN PROPRIETORSHIP COMPANY
What is business? Features of Business –
To do business means to earn one’s income in exchange for goods or services to make a living, for this, whatever investment has to be made or education has to be done, the above setup has to be built, according to the survey of America.
- 20% of business startups close in the first two years.
- 45% of business startups close in the first five years.
- 65% of business startups close within the first ten years.
- 25% of business startups run for the next 15 years.
This is the solution for an advanced country like America, if we talk about India, then the success rate of business is even worse. What does this prove that doing business is not an easy task. In our society, 80% of the people and most of the society have a belief that business should not be done.
For this one should have leadership qualities, should have courage, should have right the knowledge, should have communication skills, it is necessary to have mindset with all these characters. According to that, it is decided how far to go in the business.
What is Job ? & Its Features –
Job means to work on a salary or wages every month in return for your knowledge or skills and give your service-time to the company according to the company’s rule given above. According to the type of company given above, you get the facilities. Every year we get at least 5% salary hike with better competition skills.
If you work in a small company, then the salary is less and the security is also less. Convenience and salary are high in government jobs or big company jobs. There are also director level jobs, they are skill base, that facility and salary is according to the skill and company. In Government Job salaries are as per the inflation and international salary rules, where in small scale the companies, salaries and wages consider to be far less than government jobs.
The main reason of popularity of Job is that regular monthly payment and acquiring a good education degree and get the best salary jobs. There is no patients require to work without money at unpredictable times. In doing jobs, there is no require to arrange huge amount of capital for business and risk on it.
System of Education and Government Policy –
The number of people doing business in America and India is less and the number of people doing jobs is more. The important reason for this is that the education system is made according to the system of education and according to which the government has more inclination towards the economy. Your education system determines the structure of your financial structure.
As the number of people doing more business increases, the economic inequality of the country decreases. The more the number of people doing jobs, the more inequality increases. Your mind set decides the course of your education, whether to promote a business or employment is decided in it.
Government policy decides to provide loans for higher education, to provide loans to small industries. Bringing good good plans which will promote job and business. Most businesses come from the last generation, very few businesses are built from the first generation.
Success Rate in job and in the business –
In India, the state and city development is less than other cities of the world, the number of such cities is more, where people are very dependent on government jobs. Foreign companies and other types of companies are more in big cities, so jobs are available there far easier than small cities. Still getting a good job in the country is a very difficult task. Most of the people work in large numbers in small proprietorship or partnership company, where facilities and salary are very less. So there is a lot of insecurity in the job.
Success Rate of Doing Business We have seen above, very few businesses can survive till the end. Doing business in our society is negligible. Education is taken only to get a job. If someone thinks of doing business, then he has to face a lot of opposition from his/her family-friends . There is also a mentality that if you want to succeed in business then you should have a capital strength, but today growth of services sector given chance to intellectual businessman to start a business in less capital.
Very few businesses survive after 10 years of starting point, because doing business from first generation is far difficult than generation businesses. Now we can see that even generation businesses also struggle to survive in the today’s market because of changes in the market is very fast. Therefore, if we want to succeed in the business, then we have to update daily in our business area with technology and knowledge.
The Benefits of doing business –
The business established by one generation gives benefit to the next generation, the next generation does not have to start from zero like in the job. The person who struggles to establish a business, he introduces the brand of his product or service in the market, his next generation gets that brand value ready-made after coming in the business.
1) INFLATION –
The businessman avoids inflation by adding the increased price to his cost, his purchasing power is not less than that of the employed person. Therefore, a person doing business can make wealth, its inflation is the biggest reason.
2) FREEDOM –
The person doing business takes his own decisions, there is no one to interrupt him. A person takes all his strength, intelligence, money, time to be successful in business.
3) PROFIT –
The hard work you do in business, the more profit you get, there is no other partner in it. Therefore, the motivation to apply full force to the business is its profit.
4) BARGAINING POWER –
People have to be hired in the company, we have less jobs here, people are more, so it becomes more right to give the minimum salary of the employee and how much less services should be given. According to the rules of the company, the employee has to walk, which means the bargaining power of the businessman is more.
5) HIRE AND FIRE POLICY –
In today’s era, there is no such thing as a fixed job, the company can leave the job at any time by giving you a notice period. Means by making rules for the benefit of the company in the government law, the company gets the benefit.
6) TAX BENEFITS –
Businessman always able to bypass the government taxes through their business, either it is direct taxes or indirect taxes. Any tax increase is burden given to last user of the services provided or products supply.
7) Other advantages –
Satisfaction comes from making a business successful. Goodwill / prestige increases in the market in the society. There is no limit to success, it depends on its hard work.
Disadvantages Due to Business
1) STRUGGLE / Conflict –
One has to struggle a lot to set up a business, one has to face many failures. Many businesses have more chances of failure, so patience has to be exercised, in this many people get drowned in debt.
2) RESPONSIBILITY –
The company was closed during the current lock down period, but still the employees had to pay salary every month. There are many government taxes, they have to be paid regularly. Whether the company is in loss or profit, people have to pay salary every month. The person running such a business has to fulfill the responsibility.
3) FINANCE/ MONEY –
The person doing the job does not need to invest money, but the businessman has to invest a lot of money, then after some days the profit starts showing, there is also the possibility of loss.
4) TIME –
There is no work restriction for doing business, he keeps thinking for the growth of the company round the clock. So there is no time to do business.
5) HIGH STRESS – Stressful life –
People doing business have to live a very stressful life in the initial days, sometimes they have to live a stressful life for the whole life. In today’s internet era, things change very fast, so you have to stay updated, due to this you have to face a lot of stress.
Benefits of Jobs –
1) SECURITY OF INCOME –
Like business, there is no uncertainty of money, you keep getting salary every month continuously. If you get a good second job with a good salary, then you can take a decision immediately. With the security of the income, one can fulfill the responsibility of the family well. If ever needed, you can take money from the company in the form of a loan.
2) PROMOTIONS –
As your experience increases as you work in the company, accordingly your salary keeps increasing in two years. Like business, there are no uncertainties in income here.
3) TIME –
Like business, there is no uncertainty of time in a job, there is a rule of time, once you come home, there is no need to think about the work of the company.
4) RESPONSIBILITY –
The more the scope of work, the more responsibility is there, even if there is a loss to the company by mistake, there is no result on its salary. There is no need to be stressed like a business mind. Do your work and go home or have a daily routine.
5) BONUS AND HOLIDAYS –
Every year in Diwali, at least one salary is received as salary bonus. There are some fixed holidays in the year, which are paid, similarly in some companies Saturday and Sunday there are two holidays in a week and in some companies there is one holiday in a week.
Disadvantages of Jobs
1) AUTOMATION AND TECHNOLOGY –
In today’s technology era, office or factory work has started with automation technology, so when your job will go, nothing can be said. There is always the fear of losing the job. If your salary is high and you leave the company from the job, then it becomes very difficult to get the job of that salary.
2) SECURITY MAKES YOU UNFIT –
Just like there is conflict in business, there is no such job and those who want to live a secure life lead a secure life. This becomes the worst habit of life and sometimes the job is lost, then that person is not fit to work in the outside world.
3) AGE FACTOR –
While working, as long as you are young, there is no problem, later when you get married, the family increases, the expenses increase. The company understands that your responsibility towards your home has increased, your efficiency decreases as you age, but your salary keeps on increasing, so when the company changes its policy and replaces you with another person on a low salary, then You are of no use and go into depression. Sometimes, even when you don’t feel like working, you work.
4) INFLATION RATE –
Your salary increases by 10% to 15% every two years, but inflation rises by 7% every year. It means you stay where you were, this is not known to many people. Therefore, most of the people doing the jobs are not able to make wealth, its important reason is the inflation rate.
5) DEVELOPMENT –
In comparison to business, people doing jobs or jobs are not able to create wealth, so the people doing jobs are left behind from the businessmen. Most of the people in India work in small companies, if there is a big disease, then the whole life is wasted in spending that much money.
Conclusion –
We explored both the means of income and found that whether to do a job or a business, it depends on the mindset and thinking of the people. If someone likes to do a job, then someone wants to do business. The fact is that people doing business spend better than people doing jobs.
There is a difference between people doing business and doing jobs, that is a life of struggle and a secure life. So I tried to clarify here what you needed to decide what you like better. I hope this hard work of mine is of use to you.
Talking about India, there is a huge difference in the income of the highest working officer and the lowest level worker, yet if you see the difference. Then it will take 790 years if the worker working at the lowest level has to earn as much as the highest officer.
