This is it, in paid job you are working for the security of your employer and not yours. Another view is this, when the profit of your employer increase, your income will not increase in that proportion. But if you are running you business, when your profit increases, so your security. Just make sureyou build a good business model.

i agree to everyone's view but as for me, self business is actually better. from my personal experience as an employee for years. after taking the risk nd bold step to start my own business i discovered that the money i made for my employer, i could actually make more for my self.but it takes alot of dedication, committment, discipline and hardwork to achieve that. it also depends on the type of business u want to go into. for instance why should a person who doesn't have the skill of making nails or hair venture into salon business simply becos he or she thinks the capital is there to set up a well furnished salon, obviously he or she might start very well but with time, i tell u the bisness will fall due to lack of manpower and skills.

Actually at any one time, you are both a paid employee and running your self business.
The mistake we all make is in not understanding the true nature of what we're doing.
If you are in paid employment, you are actually selling a business - yourself - and you're responsible for your own profit & loss. If you are self-employed, that word in itself is descriptory enough. You are in paid employment, but you are your own employer.
Self-employed people need to work at least 10 times as hard as people in paid employment, work longer hours, have less holidays, and spend less money.

For me, everybody should do both. If someone else employs you, you can use their resources towards achieving your own life goals. You can imagine the benefits - free Internet and e-mail, guaranteed paycheck, etc, at the very least. Many others offer much more, such as free medical and other benefits, so you don't have to worry about those while pursuing your life goals.

In fact, to get a very good, high-paying job, especially in Nigeria, requires a lot of hard work as well, even sometimes more than so-called self-employment. But it opens a lot of doors, assists in building a reputation and a contacts base, and in the case of some of us, a lot of international travel to places we could never have gotten to on our own, or even gotten the visa.

My take is, both of them are good. But it's a lot easier to let someone else pay you first, while you build up your arsenal of knowledge. But always keep in mind my first sentence.

Being self employed u become ur own boss

bighabit:

no doubt,


Information marketing-I sell allots of books online

Pls talk to me at jidolconsul005@yahoo.com. We can do some things together.

mantote:

I THINK THERE IS NOTHING WRONG WITH SELF EMPLOYMENT BUT IS GOOD YOU WORK FOR SOMEONE FOR SOMETIME,GET SOME FUNDS THROUGH SAVINGS/INVESTMENT,MEET PEOPLE AND EARN THEIR RESPECT WHILE WORKING FOR SOME1,UNDERSTAND THE REAL WORLD OF BUSINESS,TRY YOUR HAND OUT ON SOMETHING WHILE WRKING FOR SOME1,THEN BASED ON YOUR TRIALS,YOU CAN FINALLY DECIDE IF YOU WANT TO BE SELF EMPOLYED OR NOT.
BUT BASICALLY,U NEED NOT JUST CAPITAL BUT EXPERIENCE ESPECIALLY IN HUMAN RESOURCE MANAGEMENT,INTERNAL CONTROL ,CUSTOMER RELATIONSHIP MANAGEMENT ETC. AND MONEY CANT EARN U THIS BUT ONLY SOME WORKING EXPERIENCE BUT REMEMBER,INTEGRITY IS KEYYYYYYYYYY

Quite true!! You've hit the nail on the head.

Oluschenco:

To be self-employed requires money and one needs to work for the capital, which means he/she has to be employed somewhere.

I agree, if one wants to be realistic.

actually self employment is recommended but there is need for you to work and have some experience before you eventually venture into tour own business.

Nigerians do no have much of a choice sef, what is the percentage of jobs available to the graduates or qualified persons?

, and who is supposed to create the jobs?

if everybody becomes their own boss. which people will fill the paid employment sector.
There must be a balance. We all cannot be oga.
This is part of the nigerian problem and mentality
Nobody wants to serve. Everybody wants to be served.
To drive the economy we need people in paid employment as well as owners of business.
So in my own opinion, both feed of each other and are equally important.
It is a matter of personal preference. The CEO of marks and spencer earns millions PA working in a paid employment.
And there are owners of small businesses that earn less than £50k PA working long hours.
I know which one I would prefer

yommyuk:

if everybody becomes their own boss. which people will fill the paid employment sector.
There must be a balance. We all cannot be oga.
This is part of the nigerian problem and mentality
Nobody wants to serve. Everybody wants to be served.
To drive the economy we need people in paid employment as well as owners of business.
So in my own opinion, both feed of each other and are equally important.
It is a matter of personal preference. The CEO of marks and spencer earns millions PA working in a paid employment.
And there are owners of small businesses that earn less than £50k PA working long hours.
I know which one I would prefer

The MicroSofts, Mark Spencers, Apple were all small garage businesses at one time. The CEO might be earning millions but have you considered what the founders Mr Micheal Marks & descendant is earning? even if its a public company.

Self employment is not for everyone. Agreed
We can't all be ogas but even as businesses we can't provide every service so the balance is for me to get paid doing my part well and paying others to do there part well. That promotes capitalism.
If anyone has the dream to go in any direction, please do cos I think that is how a great economy is built

@ Ajanlekoko,

Well said you have demonstrated your knowledge of the topic which is very correct.

Possible to do Both, !!!
Wiser to start with Paid Employment and Then move
gradually into your own Business or just follow der Nigerian Elite
Be in Employment and have 3 to 4 businessess running
at the same time making you Millions of Naira, Dollars, Euros etc, 

xtremeidea:

sincerely if your working n u have a boss then u'll say "self employment is beta" but[b] if your a typical Idumota boi then u'll envy those that "put on suits n rush for bus" .[/b]

When you know what you are doing and you take a look at your
bank account, you won't envy but pity

I know sum1 who spent the better part of his years on the streets in idumota after
university. He now lives in his own house at VGC with business outlets
at high brow places scattered all over Lagos though he still can't do 3days
without going back to his roots - that same Idumota.

It all depends on the mind-set. What works for you might not work
for the next person.

If anyone has the dream to go in any direction, please do cos I think that is how a great economy is built

My take is, both of them are good. But it's a lot easier to let someone else pay you first, while you build up your arsenal of knowledge. But always keep in mind my first sentence

Some bank chiefs do not own the banks-"paid employment"

Other bank chiefs own their banks- "self/paid employment"

some of their depositors are in "paid employment"

other depositors are in "self/paid employment"

Chart your own course- BOTH PAID AND SELF-EMPLOYMENT could be rewarding.

All things being equal, self-employed people ultimately have more opportunities of acquiring great wealth and have more fulfillment in life.

Again, this will depend on your your definition of FULFILLMENT & SUCCESS is.

Cheers.

Self employment in the long run is the best option because with time there can only be only one way to settle the rising cost of things.

Life is all about risks! so as for me it is better to take risks , Self business is my way,

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Steve Ballmer is a classic example of a career employee who is a billionaire.
He hasn't worked for anyone else but Bill Gates since he left Harvard.
Some people here would say 'but he is not Bill Gates'. So what? He's a lot better than most anyways. We can't all be Bill Gates.

It simply boils down to what you love doing.

I like being in charge/head of what I do. Somebody like that can't last long in a paid employment, rather he strives to pay people.

both methods are needed to drive economic activity and the balance b/w both should be appropriate.
Imagine a system where most people own their own businesses. In the UK, the proportion b/w both
methods is RATIO 1:5 and not the reverse. In the developed world, the value of employees as an asset
is very high. They invest in their employees unlike Nigeria where majority of the sectors do not value the
importance of Staff development. ASUU crisis is a typical example of this. or where staff will not be paid for mths.

Therefore I understand u guys who are highly in favour of one running self business. But this is my question for
you. How will u value your employees? Will u empowered them via development or just pay them to get on with the
job they are employed to do. Consequence; they will either steal from u or find a better job where they will feel more
valued. SO REMEMBER THE ADAGE : A SYSTEM THAT FAILS IT'S PEOPLE IS A FAILURE

So if you are opportuned to be your own boss. Remember those underneath u and value their contribution.

Several years ago,I used to be and believe in paid employment until an internet marketer opened my eyes and mentored me on legitimate internet businesses.Now,I make the kind of money that no employer can EVER pay me.well,if you are interested and want to start,contact me on
[email]immaculatetech2000@yahoo.com[/email]