Job vs Self-employed vs Business owner, which category do you want to be in?

Job vs Self-employed vs Business owner, which category do you want to be in?

I guess every person has it's preference and has a different answer to this question. Generally, I felt that users are more tend to answer that doing business is great and it is their way to become rich. I am not sure about the "rich" part but instead, I observed some scenarios where the line is blurred and roles are interchangeable but before that let deep dive into their actual theoretical definition.

Source

I used Google Dictionary which claims it is provided by Oxford Languages (the same organization that publishes Oxford Dictionary) and it give below definition.

Job: a paid position of regular employment.
Self-Employed: working for oneself as a freelance or the owner of a business rather than for an employer.

Since "Business Owner" is a composite word, Google/Oxford Dictionary did not define it. I will use the alternate definition from one of the job sites "Indeed" that describes it as below.

Business Owner: A business owner is someone who owns a business that offers a product or service that benefits its customers.

Now if I consider the top executives in the company or even Directors they are in a "paid position" and doing jobs for the company and actually "employed" by the company. They are the one who are making policies to drive the company business. Employees in this high position, do get a share of the company profits, stock options, etc and I think here the line between "job" and "business owner" is blurred.

Now even in the job, you might be hustling or having a side gig, where you are a "self-employed" person. In many cases, self-employment puts the foundation for building the business, and in the initial days of many businesses, business owners are the only person who is running the whole business or more aptly self-employed.

Being a "Business owner", who employs several persons in the business does not end the responsibility of the business owner. Owners still have to manage the business, mitigate the risk, and make the profits, and set up a plan for business growth. Is the owner is still self-employed?

After thinking on this, I come to the below conclusion.

Skillset is an important thing.

It is not important what exactly the position is, it is more important what exactly is skill set and how you can monetize it. Is the Skill set that you are developing is relevant for your future endeavour also otherwise you need to update it.

Work-Life Balance is also important.

"Earning" is important but it means nothing without maintaining the balance between work and life. So we should choose our roles as per our needs and capability instead of thinking which "role" will be considered as good.

My 2 cents.

I guess if your role gives you satisfaction and you see the road to "Financial Independence" in that role, then do not overstress yourself but in any case you should not top working on your skills and personal growth.

So what do you think about it?

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