Ever hated that feeling of being ensconced in a personality-neutral cubicle, working tirelessly under someone in return for no credit and almost zero appreciation? Have you been flushed with the desire to quit, go start your own business and be your own boss? Slow down and think before you decide to go all guns blazing to launch your start-up only as a reactionary plan to having been stuck in a boring job. That's the last reason you should have for a start-up's inception.
Today, the country is the firing table for countless start-ups despite there being many underlying risks associated with establishing your own company. But it has also catapulted the dreams of many into new dimensions and honed their creativity, resourcefulness and inventive faculties.
Needless to say, in case of start-ups you're working for yourself and not under anyone else. You have a greater degree of responsibility and more say in the decision-making process, rather at times you may be the sole decision maker. You get to wear multiple hats and juggle different tasks when you're in a start-up because there'll be only a small team working with you, all of whom would be saddled with an assortment of duties. This helps you master various skills, gain a lot of experience and become more versatile and productive.
The extent of knowledge and experience that you gain every day at your start-up far outweighs the learning experience at a job. But that doesn't mean the start-up journey doesn't have its fair share of shortcomings.
A major factor to be considered is the risk and reward you are exposed to while starting on your own. High Risk might not always lead to high reward in case of a startup. Needless to say, in the beginning you might earn a measly payment in return for having toiled away day in and day out. Contrastingly, you could land a high-paying position at a corporate doing the same amount of, if not lesser, work.
In your startup, your attention must consistently veer from one task to the other, so everything depends on how quickly you make the switch. Whereas jobs give you the opportunity to polish only those skills which are required of you to discharge your duties and thus can help you grow and become adept at those specified skills.
It's commonly said that 8 out of 10 start-ups usually fail. Because of this, once you commence your own business, you get down to work immediately. You have to pull out all stops if you want to see your business thrive. Contrarily, in a job, you get time to adjust to your new surroundings and acclimatize.
At jobs, a wealth of knowledge is readily available to you; you have bosses who'll be having years and years of experience as well as intelligent and smart co-workers. At start-ups, you need to create everything from scratch – right from administration work to building a product and marketing it.
But none of these should make you think twice about launching your start-up or dropping the idea of launching your start-up. You should never spur the idea for a start-up just because you're not satisfied with your job or your boss. The problem could be with your work environment. Start-ups must be built on the conviction that you're doing something you're passionate about and which will benefit the society that you're providing them with a product or service which you're sure will entice them. You should be able to put your heart and soul in the idea. Ultimately, it is the belief in yourself and your idea which makes the things working even when you are facing tough times.
There are various other distinguishing features of start-ups and jobs but they can't be branded as advantages or disadvantages as long as all of us continue to retain different personalities. If you are someone who would love to take initiative or keep evolving with a flair for pitching in ideas in consistence with your goals, a start-up would be ideal for you. On the contrary, if you don't mind a structured environment where you are mostly told what you need to do next, and if you consider working towards your goal methodically, working for a corporate would be best for you.