9 to 5 Job versus Online Business

At 9.4 percent and climbing, the unemployment rate is higher than it’s been in a quarter century. This follows the unusual period from 1997 to 2007, when the annual rate averaged 4.9 percent. The new normal will be much higher. “We’d better get used to 7 to 8 percent unemployment for years to come,” Gross said recently. “We are just not going to be able to put all these real estate workers, investment managers, and Wall Street types back to productive work.”
One could debate whether those investment managers were actually doing productive work, but what is not debatable is the link between growth and unemployment. Slower GDP growth means slower employment growth. And, importantly, financial workers account for less than 10 percent of total job losses. The people who have been really hammered in this downturn are lower on the economic food chain — factory workers, retail clerks, and young job seekers. From: Moneywatch

What are views on this article? I honestly do not know whether to feel happy or sad about it, I mean it is a good thing that things are starting to settle down a bit. However, the aftermath of the recession is still felt all throughout the world. Indeed the impact was massive. So what option does it leave us especially the unemployed? From my point of view, I see two options here: (1) search of any jobs available, it really does not matter what it is and (2) start you own online business and gain independence from capitalists.

Both options I have mentioned sound good right. So let us weigh the pros and cons of each.

Having a regular job. Since the choices are quite limited, there is a chance that you will land a job you do not like, or a job that is not within the spectrum of your specialty. If you are hired to do a job not of your liking, take it from me that within months or after a year, you will be handing in your resignation letter. I know this because I have experienced this countless of times already.

It’s not all disadvantage of course having a stable job also has its advantages. You have a regular source of income. You are sure that you will be paid, also as mandated by the government you will also receive benefits fitting an employee. Not only that, when you have a job that you really like there is every possibility that you will excel on it. Hence, there is room for career growth. It also gives you a feeling of self-fulfillment.

Starting your online business. During the first few months after you have put up your business, do not expect profits to rain, not yet. According to some online entrepreneurs, visible results are usually seen after a year. If you are unemployed and you do not have any other source of funds then that is a disadvantage for you. It will require a lot of patience and hard work for your online business to grow.

One significant advantage of having your online business is that you can be your own boss and keep what you earn: As an owner of an online business, you choose what to sell and when to work. Take time off when you want to. You do not have to answer to anyone, all this while your online business continues to work for you. With the great reach that an online business has, you will earn more than you ever thought possible as opposed to what you would get as a salaried employee.

Another thing to consider is that all of the components of your business are virtual and therefore controlled directly from your computer. Convenience is a big reason why some people are able to succeed in online business.

With that being said, which would you choose? It is entirely up to you, you know that. A friendly advice from someone who has been employed I actually would prefer having my own business. Forget about the start-up cost because it really does not take that much to put-up your online business. Like what I’ve said countless of times before, plan and work towards it. The online industry is huge enough and I am sure anyone will find his right place on it.