SEC - S15W5 : WHICH ONE IS BETTER?

Hey Steemian friends!

In this life we constantly face different choices, our experiences shape how we weigh the pros and cons of different paths. In this contest, I'll be sharing my thoughts and experiences on given points and why I choose them over the other.

👉 Employee or Entrepreneur

I have worked over a decade in the hospitality industry as an employee, then I decided to transit to entrepreneurship with a startup of my own. This significant change in my life has given me a firsthand experience of the best and worst in both realms. But I really can’t tell which one is better because it is really a dependable choice according to your own perspectives and lifestyle.

For me, I was a born risk taker and always seen as a solution provider so being employed didn’t make any fun further into life. So I decided to become an Entrepreneur. But I will share how I see both worlds.

Good things about being an Employee vs Entrepreneurship,

a). Fixed Salary:

A steady income provided a sense of financial stability. Which makes decision-making and planning the future seem quite easy. Because you know what your bank balance would be at the end of the month and this would reduce financial anxiety.

But Entrepreneurship doesn’t give you something fixed. There are many liabilities before we can withdraw some profit out of the company. Also, we have to focus on next month's budget and reinvesting into the company. Hence having a fixed salary while the business is stabilizing is challenging.

b). Job Security:

If the company seems to do good, we know we have a secure job for years to come. Hence, we are sure of our income which is comforting.

A lot of start-ups hang up with only a few investors and if the company doesn’t perform to the extent, we hope them to be, then we are at a risk of closing the company.

c). Structured Routine:

Having a defined work schedule allowed for a better work-life balance. We know when to allocate time to our family and friends.

When the business is ours we have to give 100% focus to develop it. This might take those precious family time from you for a certain time period.

d). Benefits and Perks:

Employee benefits, such as health insurance, bonuses and paid leave, added value to my life. Also, when we work long enough for some companies we might get Gratuity payments and pensions from the government jobs.

Rather than getting all the perks, if we have employees for our company we have to focus on their benefits before us because building up a good team to control the company is a key to the success of a business.

Stresses of being an Employee Vs Entrepreneurship:

a). Limited Control:

Lack of decision-making power & authority over our decisions can be frustrating. We often have to follow our senior level commands.

Full authority to make decisions on Entrepreneurship will feel great as long as you make timely correct decisions.

b). Office Politics:

Negotiating workplace dynamics can be challenging and sometimes things can go south if you don’t know how to handle the situation.

As Entrepreneurs, we have to be careful enough to eradicate politics and make everyone feel equal and loyal to the company.

c). Limited Growth Opportunities:

Career progression might be constrained within a fixed structure. We often have to do the same thing for years and not progress to the next level.

When you are the Entrepreneur you are the top of the company. The only thing you have to do is create more jobs to gain more profit.

d). Dependence on Employer:

Relying on one source of income can be risky. We have seen this with Covid, not only individuals but companies too challenged if not diversifying their income sources.

👉 Saving or Investing

When it comes to financial decisions, saving and investing play crucial roles. While saving has its merits, I find investing to be a more way to go method in life, especially in a high-inflation country like ours.

a). Wealth Accumulation:
Investments have the potential to yield higher returns. As an example, if we hold our money in a bank account our yearly ROI could be just 10-12%. But investing in different sectors such as share markets, cryptocurrency or real estate could give much better returns.

b). Beat Inflation:

Investing helps preserve the value of money in the face of inflation. Sri Lanka has seen inflation go to 67% on the reports but at ground level goods have been selling at 300%. A 100,000 saved in the back in 2022 is just worth 67,000 in 2023. Purchasing Power has reduced so much that people won’t buy the essential goods now. That is how bad it looked to save this country.

c). Financial Growth:

With the right investment, it opens avenues for wealth creation over time. A good return means we have more money to go for more business opportunities.

👉 Steemit or Hive

While I haven't explored the Hive platform, my loyalty lies with Steemit. Over the years, I've been a proud #steemexclusive fan, finding joy in the unique communities and content it offers. When I started I hadn’t had much time to focus on two platforms and I loved the community backup I got from the Steemit, especially the Sri Lankan & Italy communities. So I never had a change or mind to look for another!

I guess Hive too has a strong community bond but Steemit seems to be the stable platform with continuous growth. So this one is the easiest choice of all.

So to conclude, I choose Entrepreneur, investing & Steemit as better choices.

Steemit on..

Thank you for this interesting contest @steempreneurship. Looking forward to taking on the next week’s challenge. I would like to invite @yoelmo26, @rahulkazi & @senehasa to participate in this contest.

Thank you.

Peace to all 🙏

^{All the images have been developed by Midjourney / Dall E and photoshoped by me.}