Thursday, February 01, 2007

Entrepreneurship or a top job

What's more suitable to you, entrepreneurship or a top job? The answer would depend on a person's inclinations.

Nowadays, more and more people are looking towards entrepreneurship as their future.

Some people feel that it is better to start and run their own business than work as an employee in a corporate set up.

There are tremendous rewards and perils of running your own business. You make money, you are able to create opportunities for employment and you gain respect and status in society.

However, not everything is positive and so easy. After risking your own capital or raising money to start the business, you have to face fierce competition to sell your products or services to the customers.

It is a continous process to satisfy your customers by always being on the look out to identify their needs. The products and services will have to add value to the customers who have a range of options to choose from.

Thought it has its challenges, it is an immensely exciting job for people who always scan the market and whose adrenaline would rush to seize any opportunity that might come their way.

For the less enterpreneural persons, a top job in a corporate set up is much better. Such individuals do not have worry constantly about market changes. They are renumeration and benefits are fixed and there is a feeling of security of holding a good job.

But such a sense of security only lasts until a person is laid off from the company or the company ceases its operations. Even in markets like Japan where lifelong jobs existed before, they are no longer the norm because of competitive pressures and rapidly changing technologies.

Acquiring an MBA from a top college is no longer a lifelong guarantee of employment unless a person is prepared to carry on a continuous learning experience to acquire new skills and new knowledge.

As a consequence, employees are better empowered and employers are finding it difficult to keep top employees without offering higher compensation and additional benefits. In the process, loyalty of employees to a company seems to have died and is being consigned to the graveyard.

Some companies are getting creative to retain top talent. Now you can hold a top position in a company and still be working like an entrepreneur. We have come a full circle around.

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