hello nairalanders people have always argued about this and i want us to citically examine this topic together.

Self Employment Business is better

Depends on what u actually do.

For instance if you work in a financial institution on commission basis - The more u sow the more you reap.
You also got the security of regular income. Work less hours. Good for family life.

Self employment can be very rewarding if you are determined and a good risk taker. However not everyone is cut out to be a business person
A disadvantage to self employment is finding staff who share your passion. In nigeria this is near extinction. Working long hours. Sometimes
you are away from the family for weeks.

hmmm - fingers gross

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.

fhemmmy, good post, but

the little word SELF, is the keyword-

since everything tends to move fast, it also applies to decision making and management strategies.

when you own a business, it is up to you to grow such business. so in the nut-shell
it easier and faster to fathom your planning, organizing, directing, budgeting- and any other marketing mix.
these privileges are not there for an employed staff- so most times, it is personally and intuition anti-productive.

so definitely, self business is better!!!

bighabit:

fhemmmy, good post, but

the little word SELF, is the keyword-

since everything tends to move fast, it also applies to decision making and management strategies.

when you own a business, it is up to you to grow such business. so in the nut-shell
it easier and faster to fathom your planning, organizing, directing, budgeting- and any other marketing mix.
these privileges are not there for an employed staff- so most times, it is personally and intuition anti-productive.

so definitely, self business is better!!!

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.

no doubt,


Information marketing-I sell allots of books online

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

COOL BIZ

"everybody sees the world through himself" Napoleon Hills

I just realize that you are giving opinion base on your experience,

wise guy- "have a successful day ahead"



facebook: Abdulrazak Abdulhadi
you will see me with that $56 glass, see ya

stay blessed

If you want to be free in Life run a business vision that employs you and others

This is Financial Liberty obtainable as a business owner/runner and investor.

Paid employment is like Financial Bankruptcy.

It cages your mind from soaring to the sky financially.

You may start as an employee for say 2-5 years but end your journey a business owner/investor/Job creator.

Most people that pursue 'pensionable jobs' end up with little or no financial education and gives their time,energy and ideas to their boss for a token.And life is short

But self employment/business ownership educates you financially,expands your business mind and increase your propensity to earn steady and increasing cashflows.

To be free financially to do exploits in life you need cashflows from business/investment systems and not salaries

You can not compare a 40 year old Business Investor in Real estate, Gold & Silver (commodities), Cash instruments, Shares, Bonds, Green Energy, Network Marketing e.t.c with a 40 year old civil servant on grade level 12.

@ 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.

Beautiful analysis.
Dont forget to add, Only you can decide how far you wanna go.

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?

YOU'RE STILL TALKING ABOUT THE KEYWORD: SELF

It all depends on the satisfaction you are getting, either monetary or otherwise. Fact is, do what you think will be satisfying to you.

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.

Interesting topic ! Different strokes for different folks , i ve tasted both ends so i ll definately go for SELF EMPLOYMENT .

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.

sincerely if ur working n u have a boss then u'll say "self employment is beta" but if ur a typical Idumota boi then u'll envy those that "put on suits n rush for bus" .

which ever way u look at it, each of the have their own advantage and disadvantage.

but for me, i'll go with Self employment, therez nothin as Good as being a boss!!!!

lagosbloga:

@ 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.

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

Thank You for all your response, at least we can learn something meaningful from it.

Remember that:

with self business, you take home all the profit and also you take home all the loss (advantage and disadvantage).

Paid employment, you only get paid salary but sometimes you might not get paid if the company is having problem with their profit and you might end up been redundant. (advantage and disadvantage).

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.

I THINK THERE IS NOTHING WRONG WITH SELF EMPLOYMENT BUT IS GOOD YOU WORK FOR SOMEONE FOR SOMETIME,GET SOME FUNDS THROUGH SAVINGS/INVESTMENT,MEET PEOPLE AND EARN THEIR RESPECT WHILE WORKING FOR SOME1,UNDERSTAND THE REAL WORLD OF BUSINESS,TRY YOUR HAND OUT ON SOMETHING WHILE WRKING FOR SOME1,THEN BASED ON YOUR TRIALS,YOU CAN FINALLY DECIDE IF YOU WANT TO BE SELF EMPOLYED OR NOT.
BUT BASICALLY,U NEED NOT JUST CAPITAL BUT EXPERIENCE ESPECIALLY IN HUMAN RESOURCE MANAGEMENT,INTERNAL CONTROL ,CUSTOMER RELATIONSHIP MANAGEMENT ETC. AND MONEY CANT EARN U THIS BUT ONLY SOME WORKING EXPERIENCE BUT REMEMBER,INTEGRITY IS KEYYYYYYYYYY

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.

self employed is the key to financial freedom and have enough time for family and friends

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.