Should you Be an Employee or a Business Owner?
An employee and a business owner have different psychologies.
Let’s say you have been creating content for some time.
In the back of your mind, you’re thinking about going fully in.
You no longer want to write your rough drafts at work and record on the weekend.
You’re thinking about quitting your job and going all in on business.
Before you do it, you need to understand the cloth that you are cut from.
Some people are born employees.
They are meant to work in a network (company) and get a predictable lifestyle.
Other people are born business owners.
They are meant to create a company and deal with the waves of wins and losses.
What’s the Difference Between an Employee and a Business Owner?
The biggest difference between being an employee and a business owner is risk.
One way to think about risk is input to output.
When you are an employee, you know for a fact that you will get paid for your job.
If your job misses even one paycheck, then they are liable until they pay you.
You work, and your bank account increases.
Simple.
While in the beginning stages of running a business, it’s not like that.
You will work a lot and not see any progress in your bank account.
Heck, you’ll lose money.
- You’ll eat through your savings account.
- Have a good month.
- Make some money back.
- Then go back to having a tough month.
Surviving the first 7 years of a business is literal hell on earth.
You’re doing so much hard work, but no one appreciates you.
All they do is point out your flaws:
- How come you never chill with us anymore?
- How come you don’t give us a raise?
- And how come your products are so expensive?
By being an employee, you have a safe and proven path.
By being a business owner, you have a tumultuous path.
Risk vs Reward
‘Geez Armani, being a business owner sounds awful. Why would anyone willingly want to become one?’
Because of the rewards.
Since there is more risk, there is also the chance of a great reward.
Notice what I said.
Chance.
Most businesses will fail.
Especially in the internet age.
Surviving 3 years in business on the internet is like surviving 13 years in business in the real world.
Things move faster here.
Most of the business owners will fail, while a few will succeed.
And when they succeed, they succeed BIG.
They make back all the money they lost in the initial years and create cash-generating machines.
This is when the media comes in and tries to vilify the business owners.
‘Rich capitalist exploits the system!!’
Um no.
That’s not what’s happening.
These business owners grinded and dealt with uncertainty for over 7 years.
Finally, they are winning.
And now we are vilifying them?
Nah, they deserve praise!
Hot Take:
- I don’t think business owners should pay a penny in taxes.
It’s because they had to deal with the pain of turning an idea into a proven system, they have to pay their suppliers and distribution systems, they have to organize a large body of people for a shared mission etc.
After doing all that, you’re telling me they have to pay Uncle Sam more money??
Get outta here!!
By the way, pay your taxes.
I’m just giving my opinion of my ideal world.
Spotting the Personality Traits
On the internet, it’s cool to bash employees.
That’s not smart in my opinion.
Being a great worker is a solid way to live your life.
You’re better off being an employee if you:
- Enjoy predictable work hours.
- Don’t want to make your career the #1 priority in your life.
- Are okay with a routine pay structure with occasional bonuses.
- Like to be given commands and delivery due dates.
You’re better off being a business owner if you:
- Can thrive in chaos.
- Enjoy building your brand vs building someone else’s brand.
- Enjoy creating products and services that will benefit others.
- Can assign yourself your own delivery due dates.
‘Can I be both a business owner & an employee, Armani?’
Yes.
In the beginning, it’s perfectly fine to start a business while being an employee.
Let’s be real, most employees are not working 8 hours a day.
They probably work 2 hours then goof off a bunch.
Rather than surf Reddit, why not find a business model that works for you?
Working a job and starting a business is like riding a bicycle with the training wheels.
You get the experience of riding the bike without scraping your knees.
Gradually Find Your Calling
I’ve worked as an engineer in companies, and I’ve run online businesses.
I believe all work experience is good work experience.
The ability to generate money is a useful life skill to have.
At one point or another, we wonder:
‘Am I making a difference?’
If you’re in a job where you know your schedule to the tee, you may initially be happy.
You like how you get a paycheck for barely doing anything.
However, there will come a day when you wonder if you’re making a difference.
One day, you have this urge to ask your manager if there are any side projects you can do.
This happens to all of us.
Start preparing early for that day.
We sleep for 8 hours a day, work for 8 hours a day, and have another 8 hours to do whatever we want.
Work is pretty much 1/3rd of our day!!
Don’t do something that is not remotely congruent with your life, bud.
Find your calling.
One day, you’ll be asking what else you can bring to the table.
Use that as a moment to become more introspective.
What are your gifts?
What do you suck at?
And what do other people need?
From there, reverse engineer your career.
It doesn’t matter if you’re an employee or a business owner.
What matters is that you’re making a difference with your work.
For more insights into creativity and entrepreneurship, check out the ArmaniTalks Free Daily Newsletter.
– ArmaniTalks 🎙️🔥
