How to Decide if You Should Own a Business or Work a Job

Starting a business is often touted as a smart financial decision. Harsh realities surface and working for someone else becomes a cloud with its own silver lining.

Should you start a business or become a company’s employee? Consider the following to make a decision that best fits you, your situation and your mindset.

Understand a Business vs. Skills Mindset

We’re trained for our skills, but we often know little about running a business.

Writers, health professionals like dentists and chiropractors, along with contractors and just about every profession out there are trained on how to construct articles, extract teeth, and lay the foundations for buildings.

Read a profit and loss statement? Enter receipts on a daily or weekly basis? That’s for kids who majored in business math. And those are basic skills needed for running a successful business.

How about knowing the metrics that show whether your business is or isn’t on track to succeed? And then you can go deeper into issues like labor laws, healthcare and retirement plans.