When it comes to choosing between a job and starting a business, the decision can be a difficult one. Both options have their advantages and disadvantages, and the best choice depends on your individual goals, skills, and risk tolerance.
According to a study by Thomas C. Corley, who spent five years studying how people get rich, 13% of wealthy people were salesmen/saleswomen and 28% had some professional designation; some worked for big companies, others in a small business. This suggests that it is possible to become rich by working a job, but it often requires climbing the corporate ladder and reaching a senior executive position.
On the other hand, 63% of wealthy people took a personal financial risk in search of wealth. This suggests that a significant number of wealthy individuals have become rich by starting their own businesses. Starting a business involves taking on a significant amount of risk and requires dedication, hard work, and perseverance. However, for those who are willing to take on the challenge, starting a business can offer the potential for significant financial rewards.
According to the U.S. Small Business Administration (SBA), roughly 70% of all new businesses survive for the first two years. Beyond that, the chances of success fall to about 50% at five years. This suggests that starting a business can be a challenging and risky endeavor, but for those who are able to make it through the volatile early years, the potential for success and financial rewards can be significant.
In conclusion, the path to wealth can be achieved through both a job and starting a business. The best choice depends on your individual goals and circumstances. Both options have their advantages and disadvantages, and it's important to carefully consider your options before making a decision.
