How to chose between Regular job and Business as a Career ?
Difference between a Regular Job & Business The biggest dilemma I had at the age of 21 was, Whether I should pick up a Regular Job and secure my future or take a risk and get into a business. I had a very dear friend G.B.S, He and me had similar educational background and almost same score. We both went for a job interview, I was selected and he was not. Today I have a secure job with salary in Millions per month, Changed 5 jobs and got raise 20% every time, A company car and a leased accommodation. I have stayed in almost all five star hotels across country. Travelled the world on company’s expense. I got transferred 5 times in last 25 years and every time the company paid the entire expense for the movement and a rented accommodation. Attended many page 3 events, Awarded by the management on achievements at multiple platforms. Got bonus every year (barring years when I did not perform). I paid taxes in seven figures, which I flaunted as my achievement. My friend G.B.S, we met up after 25 years, He shared his 25 years journey, He owns 5 businesses now and has hired CEO for each business, Recently he bought 25 luxury cars for his employees, He owns a Farm House for weekends, A Villa where he stays, A building where his employees stay as a company provided accommodation. He also owns some Agricultural land to save taxes. He owns share in biggest chain of hotels across country. He is living in same city for last 25 years and has a strong social equity built over years. He has a house in Dubai and London where his family visits often. He organises mega events on his and family’s birthdays and bills it to one of his company saving taxes and booking them as expenses. He pays bonus to his employees every year on Diwali irrespective of their performance. He hardly pays any tax to the government and flaunts it as much as I do after paying. People have their own reason to chose regular job or business as career. some wish to serve the country by joining armed forces, some wish to revolutionise the administration by joining civil services.
Handful are visionaries to give employment to others, they chose to create opportunities for others.
Its a hard decision to make in the beginning to chose between a Regular Job and Own Business. Here are some differences between the two :
CAPITAL REQUIREMENT
Age old perception is that you need Capital to get in to your own business, where as today, If you have an idea, Capital is least of the concern. Some people also calculate salary and return on investment. If you are getting a salary of 200000 the capital required to get 200000 Per month as return at 15% after taxation is close to 20000000. So be happy with the job of 200000 per month as it would take 20000000 of investment to reach there. A lot of middle class people only educate their kids and spend millions on studies for them to get a nice job and work for rest of their life like parents did. What are you meant for - A regular job or Own business ? Chose irrespective of Capital Requirement. If you have small dreams, are ready to compromise your self respect and you are a risk averse person, You should only look for a Regular Job 2. LOW RISK
Some people think that the Regular Job is low risk proposition. You have nothing to lose. All you will get is monthly salary after tax and live happily . Senior level Jobs have similar risk if not more as much as a Business owner has. Any decision taken by a senior employee makes him accountable and responsible and repercussion of the same can be far more worse than a business decision. There are no emotions shown by the company for an employee if found guilty or even alleged. A pilot who is an employee, if detected with illness which deters him from flying, will be grounded for ever. Where as airlines owner even if detected with the most deadly disease, will still be owner only. 3. CREATE LEGACY