Do you prefer working your way up the corporate ladder in an already established company or starting your own business?

Use this forum to discuss the February 2024 Book of the Month, "Beyond the Golden Door: Seeing the American Dream Through an Immigrant's Eyes" by Ali Master
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Stephen Christopher 1
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Re: Do you prefer working your way up the corporate ladder in an already established company or starting your own busine

Post by Stephen Christopher 1 »

Having done both, I can say there are pros and cons to each. Entrepreneurship is fantastic and gives you the opportunity to be your own boss. However, establishing and maintaining client relationships is difficult, as is getting paid on time, and it's easy to get bogged down in admin. Working for others and climbing the corporate ladder has merit, but you're competing with others, and your leadership team can make or break you.
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Post by Kelvin Suraj »

Definitely starting my own business is the best. I can have time to take some day off, have time to rest. Go on some vacation anytime.
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Post by Ouko Okach »

I personally gravitate towards the "corporate ladder" path, despite recognizing its limitations in terms of career advancement and decision-making authority. For instance, working for someone else and having to do as you are told are definite disadvantages of working for an existing company.
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Post by Ouko Okach »

But not having to do all of the initial work and having an established clientele or workspace are good reasons for it. On the other hand, having to shoulder all responsibility
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Post by Ludovica Peruzzi »

Frankly, I wouldn't want the responsibility of having my own business. That sounds like a lot of people depending on me and a potential for disaster. I'd be much happier just doing my own thing and slowly climbing the corporate ladder, rather than having to handle everything on my own.
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Mayengbam Atulananda Singh
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Post by Mayengbam Atulananda Singh »

I prefer starting my own business. For sure, it's not going to be easy. There'll be more downs than ups initially but I'm certain those pitfalls will pay off in the long run.
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Shanesha Sammerson
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Post by Shanesha Sammerson »

There are pros and cons of each option.

Working your way up the corporate ladder in an established company offers stability, resources, and potentially faster career progression. You can benefit from established structures, mentorship opportunities, and a steady paycheck while gaining valuable experience and building a professional network. However, advancement may be limited by organizational hierarchies, and you may have less control over your work environment and decision-making processes.

Starting your own business, on the other hand, offers autonomy, flexibility, and the opportunity to pursue your vision. You have the freedom to innovate, set your own schedule, and potentially reap greater financial rewards. However, entrepreneurship also entails significant risks, including financial instability, long hours, and uncertainty about the business's success. Additionally, building a successful business requires resilience, adaptability, and a willingness to navigate challenges and setbacks.

Ultimately, the choice between working your way up the corporate ladder and starting your own business depends on your individual goals, preferences, and risk tolerance. Some people thrive in a corporate environment, enjoying the structure and stability it provides, while others are drawn to the excitement and potential rewards of entrepreneurship. It's important to carefully consider your strengths, interests, and long-term aspirations when making this decision.
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Post by Loretta Morris 1 »

Hi

I prefer starting my own business. I think it is great to make a contribution to society through a talent or a desire to help others. Also, owning a business has great tax write-offs.
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Post by Osakwe Favour »

I think none of the options is an easy option. However with determination and commitment, one can excel in both depending on what works for you.
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Post by David Samanthaa »

The first thing one has to understand is that both options aren't easy to achieve so they being said I would consider starting up my own business and channeling all my energy into making sure my business works out.
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Post by Obc Contentor »

In my own case given what I already have and don't have, I will like to start my own business. I love independence than anything else. I prefer to risk starting my new business and have my creativity materialized in my business than been forced to adhere to a way of some others.
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Post by Obc Contentor »

In my own case given what I already have and don't have, I will like to start my own business. I love independence than any other thing else. I prefer to risk starting my new business and have my creativity materialized in my business than been forced to adhere to a way of some others.
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Post by Dana Lawrence Lohn »

Like many others, I absolutely gravitate to the corporate ladder path, in large part because I so highly value financial security. Later in life I hope to have enough of that to start my own entrepreneurial ventures, probably in beauty and aesthetics.
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Post by Chris Alex Powell »

I would prefer to work my way up the corporate ladder in an already established business before thinking of starting my own business. I think it would give me more experience, and I would learn a lot from the business before owning mine. I would also be able to get capital.
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Post by Kevin Kipngeno »

I could be overcome by fear, even though my dream is to have my own business. I would, therefore, prefer to climb the corporate ladder in an already established company, and later have my own, after I have acquired adequate managerial skills and have been connected to other entrepreneurs.
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