When selecting whether to start a firm or hold an executive position at an MNC, there are several aspects to take into account.
Being a business owner
Owning a business means having more control over your work and your career. You have to call all the shots since you are the boss. This can be both good and bad, as it can be difficult to make tough decisions when it’s your business on the line. However, it also means that you have the potential to make a lot more money than you would in an executive position.
Having a job in a multinational company
Working in an executive position in an MNC can be very exciting. You get to work with a lot of different people from all over the world and learn about different cultures. However, you may not have as much control over your work as you would if you owned your own business.
Both owning a business and working in an executive position have their pros and cons.
Pros and cons of having a business
Pros
- If your firm is successful, you have the opportunity to earn a significant amount of money and maybe even become incredibly rich.
- You get to choose your own products/services – you can sell whatever you want.
- You get to choose your own customers – you can target whoever you want as your target market.
- Being an entrepreneur gives you a free hand to broaden your digital portfolio by trading and dealing in digitised finances. Visit here to trade digital assets for portfolio diversification.
Cons
- There are several dangers involved; if your firm fails, you might lose anything.
- You have to wear many hats – you will have to do everything from accounting to marketing to customer service.
- You will have to deal with difficult customers – not everyone is going to be happy with your products or services.
- You will have to deal with competition – there will always be someone else trying to do what you do, and they may be better at it than you.
Pros and Cons of Having a Job
On the plus side, working in a multinational company exposes employees to new cultures and ideas.
One potential downside is that employees may feel like they are just a small cog in a very large machine.
Pros
- A job can provide you with a regular income so that you can support yourself and your family.
- A job can give you valuable work experience which can help you get ahead in your career.
- Having a job could enable you to broaden your social circle and find new acquaintances.
Cons
- A job can sometimes require long hours and can be very demanding.
- It may be tough to make up for the shortfall if some jobs don’t pay well.
- Some jobs can be quite boring and repetitive.
Final words
Global corporations sometimes have more assets than smaller businesses, which can result in better employment conditions and greater chances for professional progression. Additionally, multinational companies can be very bureaucratic, which can lead to frustration and a feeling of being powerless.
Having your own company has a lot of benefits and drawbacks. Having your own business provides you with the autonomy to establish your own hours and act as your own boss.
