- This topic has 6 replies, 7 voices, and was last updated 11 years, 6 months ago by .
-
Posts
-
Do you think one should start a small business or go into a small family business such as a flower shop or do you think it is wiser to go to med school and become a doctor or a dentist or an engineer?
What gives the most security and what will allow you to learn the most Torah during the day? Even if you became a Rabbi and went into chinuch, will this allow you to learn more Torah in the long run over being a doctor?
starting small business: high startup costs; ENORMOUS timesink when first starting, no learning; greatest possibility of making it big, but far greater possibility of going bust (so high risk).
joining small business: zero startup, steady salary an hours but little possibility of making the big bucks. definitely the safest option. probably good amount of time to learn.
med/engie: huge startup costs (med school is 200k+); depending on your level of education, you may need to do undergrad first; high salary and good hours, but first there is residency during which you’ll be lucky to learn for 15 minutes a day.
rabbi: low salary, huge competition (i.e. all of lakewood etc.), no jobs. nuff said.
This can not be boiled down to a formula, because there is a huge factor in terms of what do you want to do. DO you want to be a doctor? If not don’t go to medical school, its expensive and a huge amount of work. If you think you could be a good doctor and would like the work think about it.
The most important thing is to try and figure out what you want. Don’t go into a job, no matter how good the money might be that you will hate. You will not do well if you hate your job, it will show and you won’t last long.
You can do well in many things on paper but it really depends on what types of things do you want to spend 40+ hours a week on.
I am in software and love it, but it will not be a good fit for everyone.
Two words: residual income. That combined with working the average 9-5 I would say is the best option here.
1. Self-employment means running your own business. The alternative is to be an employee. Virtually all career offer the choice between “being your own boss” and being an employee.
2. Career refers to the substance of one’s work, not whether one is an employee or not. Running a business is a career, whether you are the owner or an employee.
3. Unless its a hobby, no business is permanently small by design. As a business grows, it ceases to be small. THat is the goal.
There’s a myth that deserves busting: that the self-employed choose their hours. Mostly, their customers choose their hours. Yes, I’ve heard of the Chafetz Chaim’s grocery store but I wonder if its customers weren’t the real tzaddikim for allowing him to work that way.
Akuperma: Most local retail stores are small by design. Yes, one can open additional stores or sell online, but it’s almost a whole new business. Same goes for most in the service industry from electricians to painters. It’s not always wise or possible to expand because of additional overhead, logistics or market conditions, and those in the field are usually realistic in their expectations.
- You must be logged in to reply to this topic.