Entrepreneurship or the Work Force – Where Should You Go?
Anton Pieniazek | Manzano DECA
DECA is all about preparing emerging leaders and entrepreneurs in marketing, finance, hospitality and management in high schools and colleges around the globe. Notice how that statement said leaders and entrepreneurs.
Leaders can be leaders in the workforce or leaders of a company rather than in the company.
So which path should you choose? Well, I can’t say but I can give you some hits and misses with both. So here we go!
The Workforce – The Benefits
Well for starters, you are given a set salary that, in most cases, does not change and you get a consistent paycheck. It does not matter if you make $30,000 a year or six figures – you know you’ll get it and it does not go down and it is possible to get a raise.
You also get insurance from your company and, in a lot of cases, you know when you’re working. It can be four days a week from 7-5 or five days a week from 8-4, or any other possible work hours combination. There are other benefits too, such as retirement plans and stock options.
The Workforce – The Downsides
Well, you definitely won’t make millions within months and if that’s your goal, well, it ain’t gonna happen in the workforce. The benefit of you knowing when your going to work? Well, that’s a downside as well because you are forced to work those hours, and you only have so much sick time or vacation time available.
Plus, in the rare event of a paycheck cut, you could possibly lose your car, your house and live a downgraded life for a while. However, most of those issues can be solved with entrepreneurship.
Entrepreneurship – The Benefits
Well, the obvious choice is that you could make a lot of money if your company takes off and makes millions in profit, but even if it doesn’t do that, you still have a lot of benefits!
For starters, you set your own hours, which means you can sleep in most days! Second off, the only way a business goes down downhill is if it’s CEO does a bad job of managing it. In most cases, that won’t happen. Third, you can go home every day knowing that you helped someone out there with a need or a want and you helped them fulfill it.
Entrepreneurship – The Downsides
A lot of the downsides with entrepreneurship are a lot of the upsides with the workforce. First off, you don’t know how much you’re going to make, which does not allow for a planned out lifestyle is you want that. Also, in the rare event the market or worse the economy crashes and goes downhill, you and your company will go downhill with it in terms of the amount of cash that comes in.
That is what I think the downsides and upsides of the workforce and entrepreneurship are. There are obviously more, and I would love to hear from you in the comments or on my Twitter @anton_pieniazek!
Thank you again for reading my article for September. I really appreciate it and I hope you have a good rest of your year!
This article was written by Manzano DECA Vice President of Finance, Anton Pieniazek. You can follow Anton on Twitter @anton_pieniazek.