I love my aspired profession but love can't feed me. Pt 2


"What business am I in?" asked Ray Kroc, the founder of McDonald. That looks like a question with an obvious answer but it isn't. Your profession can be a chef but your business is what gets you the profit. Ray Kroc answered the question by saying "I'm not into the hamburger business. My business is real estate."

Asking a random person what their business is and you get replies like "I'm a banker", "I'm a medical doctor". Then ask if they own the bank or hospital. They respond with "No, I work there." That's them confusing their profession for business.

There are several common misconceptions about profession and business. Only a few that understand have leveraged on the information. They are both economic activities, no doubt. But one requires qualifications, the other doesn't.


Business is concerned with the production or purchase and sale of products and rendering of services with the purpose of earning profit. While Profession is concerned with formal qualification, knowledge, and expertise required to be applied by the person in his occupation.

CHARACTERISTICS OF BUSINESS AND PROFESSION
In business
- Risk is involved
- Capital is required
- No qualifications are required
- involves buying and selling
- The main goal is to make profit.

In profession
- Risk involved is minimal
- No capital is required
- Qualification is the main priority
- involves rendering services based on your current niche
- A certain amount of fee is rewarded based on your services

Here are three logical differences between business and profession

1. Risk factor
There's a security that comes with profession. The security of having job stability because of your expertise. No risk is being taken in profession. In business, risk and uncertainty are involved. You can lose all or gain more within a blink of an eye.

2. Main objective
Humanity first; that's the mantra of profession. You serve humanity first by rendering service, then you get paid a certain fee for that. The main goal of starting a business is to earn profit.

3. Qualifications
A business can be started overnight by anyone. It's not the same as profession. Profession requires prolonged training that makes one expertise in the field. Ever wondered how a dropout became a highly respected businessman? That's because it's not by profession. A business requires you to learn along the way while building up.
After a lot of studies, it's now clear that business and profession are not the same.

Business is main motive is to earn profit and acquire wealth, while service is the basic motive of a profession. Also, the risk involved in profession is minimal or not at all. For business, the risk is part of the main deal.

Apart from taking risks, they face risks too. Anyone can go into business but to have a profession, you have to go through prolonged training to become a certified professional.

Profession requires you to mind someone's business and make them rich while, business is focused on building your wealth pyramid.

You want to get wealth? It's time to focus more on your business. It doesn't have to be anything big. You can always learn a digital skill.

For recommendations, you can always send a message over.

Your profession can be your passion.

Your business main aim is to make money.