Hey Boss Babes!
With the gig economy firing in several cylinders across various parts of the world (perhaps at the expense of a salary-based economy), the debate is heating up between 9-5ers vs entrepreneurs across all levels. Most people view the contrast between an employee and an entrepreneur as a choice between the pairs of security and certainty vs freedom and uncertainties.
However, the contrast between the two are much more elaborate, and the consequences of switching sides can be far-reaching. Despite the growing popularity of the gig economy, you might be one of those finding it difficult to make the switch due to the intricate differences between the two economies.
To put things in perspective, we can identify the areas of difference and similarities. When it comes to their similarities, we can point out factors such as:
Quality -- you can equally produce high quality products and services with both types of jobs.
Timeliness -- You need to operate based on set time-frames in both types of jobs.
Efficiency -- These two types of jobs can allow you to operate with high efficiency and productivity.
As per the areas of difference, entrepreneurs are marked apart from employees based on:
Freedom to schedule: As an employee, you operate based on routines that are dictated by your employers, whereas as an entrepreneur, you have the liberty to schedule your daily routines according to your discretion.
Branding: As an entrepreneur, you need exposure and to stand out of the crowd, and that means you must operate with a different mindset than that of an employee, who mostly only follows orders and tries to fit in to the working environment.
Let’s take a closer look at how they compare to each other:
What are the pro's of a 9-5 Job?
Well, you have a Guaranteed income, a well-defined line of duty and pre-defined work routines. What about an entrepreneur? Well, you have freedom to set your schedules all by yourself and exposure to experiences in multiple fields.
Let's take a look at the cons!
The con's for working a 9-5 can be disheartening at times because, opportunities for growth and promotion is limited to your employer’s discretion and you lack control over what you want to do with most of your time. As an entrepreneur there are also a few obstacles like an unstructured income that varies depending on your efforts and the need to spread yourself across multiple fields can turn out to be both a blessing and a curse.
In conclusion, reliance on a salary-based economy is gradually becoming as risky as reliance on a gig-based economy. Today, the risks which employees face of finding themselves on the wrong end of salary cuts and down-sizing policies is as great as the risks entrepreneurs face of losing money or tanking. Your choice between the two must be beneficial to you and your future.
All the best boss babe 💋
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