Paid Employment Or Running Self Business

Self Employment Business is better

Self employment is not for everyone neither is paid employment.
So you have to find your own niche and run with it.
It is a tough decision but take your time to think about it, and once you sure, chase it with all in you and be prayerful too.

You are very right, but the fact still remains that self employment is not for everyone, cos as a self employed person, you work harder and all that, but it is all for you, and the more your want out of the biz, the more you harder you work, but you are very right.
Are you into any kinda biz, if you are, what are you into.

I am into IT full time and export automobiles and laptops to Nija to sell

stay blessed

@ poster,

It is not right to ask which is better because that implies both are for everyone which is not true. Some people cannot work under others while some would rather be employed by someone else so neither of the two is better. But they both have attractive qualities like;

Self Employment

Advantages

1. Potential for building a never ending stream of income even after retirement

2. Freedom to work according to one's initiative

3. Life long enterprise that may write the founder's name in gold

4. Becoming a job creator and wealth distributor

Disadvantages

1. Involves a lot of risk

2. It is usually a case of a loner not getting far as your little resources will slow you down than ought to

3. In the event of failure you risk losing your personal belongings and property


Paid Employment

Advantages

1. Job Security

2. Income stability

3. Predictable work life

4. Flexibility with running a side business

Disadvantages

1. You are only paid for your efforts and unlike the entrepreneur, your brilliant ideas only receive commendation and little or no real monetary rewards.

2. You will simply be helping another man create wealth for himself while you make do with your wages which might be meager

Think of it as a case of not having your cake and eating it.

There is something better than the two,


Creating a Business System that runs by itself, generates employment opportunities for people and generates cashflow for you at the lowest risk with optimised resources even when you are not there, and keeps paying you forever,


who can site examples of such businesses?

But in this period where money is no longer easy to come by, don't you thing Paid employment is better, at least you are guaranteed of getting salary at the end of the month instead of being self employed and bothering your self convincing clients that are not ready to let go the little money they have.

I tried doing a little business of my own while still working in a company. I employed some people to
do the job. I had to close it from frustration because my employees never quite get what the biz
was about (or they never cared enuff) Most of them have the mindset of the yoruba saying 'oga ta,
oga o ta, owo alaru a pe meaning whether the biz sells or not, the employee's wage must b complete.
I decided to quit it for a while and think of the next line of action. I know for sure if I was not employed
I could easily run the biz and manage it better.

So, the decision to run a biz o get employed depends on the individual, the responsibilities the person
currently have and those will determine to a large extent which one you eventually settle for.  Most
other times, people try to raise money for their business by the paid job because some businesses
require some reasonable amount of capital.

There are advantages and disadvantages to either of them but i think the advs of self employment

are more.

I TOTALLY AGREE WITH U,  IN SHORT your HEAD IS THERE!!!!!

 To be self-employed requires money and one needs to work for the capital, which means he/she has to be employed somewhere.

If everybody can't be self-employed, what did you guys think is the ratio.
To me:
Paid Employment 70%
Self Businees       30%

It depends on the individual taste and the timing.

Self employment.

Financial Liberty is the ability to control risk minimising it to the lowest possible point

Over 70% of Paid employees that work for about 35 years retire to become self employed facing business realities and risks with little financial education, and most of them end up losing their hard-earned pension and gratuity money because of low financial iQ.

So with these few points of mine i hope you all are convinced and not confused that running self business is far better than a paid employment, afterall Life is a race and we must run it.

as it is written all in a race run all but one obtain the price.

Remember you can run your business inside another man's bigger business, that is called Franchising

It is all about wisdom, and the wiser you are the wealthier you become.It is a straight line equation.

As a business owner you will be established with a lot of accomplishment and you will be fulfilled in Life and ministry.

 

It is better to be self employed, however if you are able to acquire some experience as an employee first it would help you so much. There are disciplines you learn in paid employment which ultimately you'll carry over to your own business and impart to your employees. Starting a business without any experience is very difficult and your first 7 to 10 business attempts will very likely fail. You have to be really determined to build a business and you must have absolute confidence in yourself and your dreams. It is very easy to be seduced by paid employment once your business attempt fails a few times.

You also need to enjoy whatever it is you want to do (self employment). That is the only way you can still keep going when the chips are down and believe me sometimes they will be. Usually you get one big break and then from there you start growing but until that happens you have to toil.

Good luck.