4 Myths About Being An Employer vs. Employee
Should you start your own business? Should you find a job and work for someone else?
Well, this is a classic match - similar to Muhammad Ali vs Joe Frazier. You will never know who is better until one of them wins the title for that season. Similar is my story — still unable to decide who wins. Job? Or business? Both have their boons and banes. So I decided to pen my thoughts and share them with you.
Let’s get going by busting the myths about having your own business versus working for someone else. Which is better?
Myth #1: You have no time constraints in your own business.
Ah, false. When I started working with my dad-slash-boss, the first thing that changed in my life was my time to wake up. All excited the night before Day 1 at business with Dad, lying there on my bed, imagining being a successful businessman by 35 and retiring by 40, and letting my money work for me while I travel the world. Of course, I would waltz into my office whenever I feel like it; the people would get up and wish me the minute I enter.
Pop went that bubble!!
Satyavachan: the truth and nothing but the truth
When you start working for yourself, the very first thing you realise is : “Yes, you are the boss, but no, you can’t waltz in as and when you like. "Your business works on some principles and ethics and my close-to-Hitler-Dad was pretty clear about his first principle: “You give all your time to your business and the business will give you all the time to enjoy your life.” So, this had me working from 8 freaking a.m. on Day 2. Trust me, the more you give of your time and heart to your work, the sooner you become one with your responsibilities. That’s the day I understood why Harish is so insistent on punctuality.
Myth #2: Salary… hahaha, what’s that? I’m the boss; I can draw how much I want, whenever I want.
LOL!! If you really believe this, you should definitely start your own business, buddy; spend money as you like and go bankrupt in less than a year.
Pop goes the second bubble too!
Satyavachan: the truth and nothing but the truth
Truth be told, the one thing I learnt when I switched from employee to employer mode is that business teaches you the fine art of saving, an art not all have acquired the taste for. This I would attribute to greed. You want to make more money, so you pump in more moolah. Then, to pump in more moolah, you save more by spending less. And so begins the cycle of saving.
But, there’s a wafer-thin difference between being eager to grow and being a miser. Just save-and-don’t spend makes Akash a miser. So save, but don’t turn into a miser. What’s the fun in earning the money when you don’t enjoy it?
Myth #3: Perks of holidays and earned leaves come only with a job.
It is true that with a job comes some thirty days of leave per year. You definitely enjoy the weekends.
(I am hopping across to the other side of the fence now, to meddle with this bubble.)
Busting this myth:
Who says this isn’t possible when you work for yourself ? To start with, you would never have to fill a leave application because your signature is the one that sanctions it. You know if you’re partying in Amsterdam and love it so much that you decide to stretch your holiday for another day or two, you don’t have to fear a loss of pay or answer to HR when you are MIA for that Monday morning meeting.
Myth #4: Stability and growth are associated only with business.
A lot of us today believe the myth that you can own a house of your own that’s featured in Architectural Digest — or buy the dream car you always wanted to see in your garage — only if you run your own business.
Pop! I’m so sorry to pop this bubble too. (Actually, I am not; I am feeling quite gleeful even as I write.)
Busting this myth too:
I agree that in business your money multiplies exponentially while your financial growth is typically linear when you are working for someone. The one thing people fail to see is that with exponential growth comes the risk of exponential failure. Business is like gambling; many a time, you go with your gut and take a risk. Sometimes it backfires.
But, with a paying job comes stability and, therefore, security. You never know when our beloved Mr Modi will wake up and say — effective tonight —no more importing goods from a specific neighbour (which rhymes with HYENA). Boom! A lot of people from certain neighbourhoods (I’m not mentioning which) have lost their livelihood. We guys, sitting here in our offices, would be chilling and reading this in the Economic Times and indulging in some arm-chair philosophising: “Where is this step going to take us?” and “Will this trigger WW3?”.
So, what do I think?
I’m pretty sure the list of myths is far longer than this, but here’s my take: I really don’t know which one wins the match — Ali (Business) or Frazier (Working For Someone). Both seemed to have worked well for me.
Neither supersedes the other in importance. Growth and success are everywhere, be it in your own business or when working for someone else. At the end of the day, it all depends on you and what you do with the resources you have. So follow your passion and dreams; don’t let these myths come in your way.
Go break a leg!
Akash Narang is Associate - Account Management at Influx and has a bachelor’s degree in Computer Science. Bubbling with enthusiasm, Akash simply loves to talk. The office was blessedly quiet when he took a three-year break from his role here to assist with his family’s business. He found he simply loves working at Influx and is back with us for a second innings. Need we say more?