What puts you in a better financial situation, having a job or having your own business? Let’s get into the Pros and Cons of both so that you can figure out what’s best for you and your family.

My first job that I got right out of high school was a factory job in which I helped man the machines that produced this tape that goes underneath carpets to make them stick to the floor. Making my whopping $6.45 an hour, I was on top of the world.

No, not really. This job sucked so much. I dreaded going there, I can still remember the smell of the chemical that was used to produce the adhesive for that tape.

I worked with a bunch of older guys, well into their 50s and 60s. To my surprise some of these guys had been working there almost 15 to 20 years and when I asked what their hourly rate was? It was about $8.

This was my future is what I said to myself. I didn’t get to go to college, so I’m just gonna be stuck here for the rest of my life like these guys.

You see the only 2 options I had been brought up to believe that I had were go to college and get a degree to get a high paying job or work a manual labor job for the rest of my life because that’s all I’m qualified to do.

Of course I was only 18, I didn’t know squat about entrepreneurship or what other possibilities were out there for me even in the job world.

Fast forward 5 years later and I’m working for one of the most prestigious tech companies in the world, making a lot more money.

Point # 1: Jobs Ain’t That Bad

Contrary to what a lot of gurus out there will tell you. That the word JOB stands for Just Over Broke and that you’ll never be wealthy working a 9 to 5, that’s not necessarily true.

The reason why many people with a Job live paycheck to paycheck is because it’s their only source of income. On top of that they mismanage the income that actually comes in. They spend more money than they should or they have a lot of bills eating up the majority of their revenue. Nothing is leftover to save and next month same thing happens again.

It’s this never ending cycle, or so it seems like it never ends because nothing is done to break the cycle.

You see it’s not the Job’s fault. If you don’t like the job you’re in, get another job. Acquire another skill if you need to so that you don’t have to continue doing a job you hate.

One of the biggest pros of having a job is that once you clock out, you’re done. If you’re off, you’re actually off and someone else is made responsible for filling in for you.

Most jobs also offer paid vacation, sick days, holidays, and on top of that benefits such as healthcare, paid paternity leave, 401k retirement plan, stocks and even discount perks depending on where you work.

You see when you put it that way, a job doesn’t sound too bad.

But we got to be fair and look at the cons list too.

One of the biggest cons of having a job is freedom. When you’re locked down to a 9 to 5, during those hours, you have to devote that time to that place. Which means if your kid has a soccer game and you gotta work, chances are you’re gonna miss the game, because if you don’t go to work you don’t get paid and then little Bobby can’t play soccer anymore.

Kinda sucks right? Especially when you know that being at that soccer game supporting your child is way more important.

That’s the Opportunity Cost though, work so that you can provide at the expense of not being there for your family.

Another con of a job is that your salary is capped, meaning that what you make is what you make unless you get a raise or a promotion. There’s no “Extra Credit” like they used to tell us in school for doing extra work. Sure you may get overtime, but tell me something when you work overtime, doesn’t it hurt looking at how much good ol’ Tio Samuel decided to take from that extra work.

Yup I’ve been there and it’s not fun especially when you know how many extra hours of work you put in.

These 2 cons alone are big enough for me to wanna leave this 9 to 5 life behind.

I want Freedom to work when I wanna work and to go watch my son’s game. I shouldn’t have to compromise one way or the other. I also don’t want my salary capped in any way. I want to be able to make as much money as I possibly can. The only cap I should have will be limited by my skills and abilities, other than that, the sky should be my limit.

Which brings us to…

Point #2: Having A Business Is Way Better

As much as a job seems nice and you get all these perks. The truth is, it just doesn’t give you the freedom of owning your own business.

One of the biggest pros of being your own boss is that you make the rules. You decide when you want to work and when you wanna take time off to devote to your family.

Not to mention the other pro is that there isn’t a cap on your salary. The more sales you make in your business, the more money you make.

Now some people get scared of this because they say it’s too risky, it’s better to get a nice secure job. That’s just it though, you think it’s a nice secure job, but if the business you work for is not generating revenue, they can’t pay you, so guess what? They’ll get rid of you.

No matter which route you take there’s always a risk. I just would rather be the one at the forefront managing those risks than letting me be screwed by something I have no say in.

Now there are some negatives to having your own business too. Because you’re at the forefront, chances are you will take work home with you. Which means your business will be front of mind. It’ll be hard to tune it out especially if you’re just starting out.

Another thing is that it’s not for the Faint of heart. You gotta be willing to fail and pick yourself back up. You gotta be disciplined, self motivated, and determined to make your business work.

Lastly, you gotta be consistent. Show up every day and put in the necessary work.

Now I’m listing these as a cons because most people will look at these things as a negative. But for all of my Alpha Dads out there I challenge you to start one. It will change your life and give you a drive like you’ve never experienced before.

It’s definitely hard work, but what’s wrong with that. Nothing in this world that’s worth something is ever easy.

And no I’m not saying quit your job and go start a business. If you have steady income coming in, keep the job, but start a business on the side so that in time you can grow it to the point where you don’t have to work that job anymore.

If you’re reading this saying, I’m with you G, but I don’t know where to start.

I want to invite you to join the Alpha Dad Business Challenge where I walk you through how to come up with a solid business idea in just 7 days.

Just go to AlphaDadConsulting.com/Business to check out the challenge.

So those are my thoughts on Working a Job VS Starting a Business. I definitely still lean more on the side of having your own business as this definitely gives you more freedom. Again, that’s just my opinion. The important thing is to judge these 2 paths yourself and see which one is better suited for you and your family. The choice is yours.

Until next time my fellow Alpha Dad,

- G. Vidal