put it this way say white collar jobs vs blue collar jobs, it was 7 years back me and my cousin had a hardcore debate on which job is best to get settle in life back then i was in my 4th semester engineering he was still in pre college i was very much interested in family business construction he was very much interested to become computer profession i always used to argue that construction or any self entrepreneurship is the only way to be successful in life and to earn huge bucks but he always insisted on white collar job and opted to be a salaried professional and to work abroad and to earn more bucks and enjoy life, but we think one fate decides other as this old quote says "A person often meets his destiny on the road he took to avoid it" today i am salaried with fixed income stream where as he is into his own business(construction) with awesome variables earning 20x than me.
Some of the advantages of Self business over salaried professional
Salaried Professional: Fixed salary Linear growth with peanut raise every year
Business: Exponential growth 10x to 100x
Salaried Professional: Work for fixed time a day say 9:00 to 6:00
Business: Enjoy the luxury of flexibility
Salaried Professional: Bounded by frustrating rules.
Businesss: you are your own boss so no rules to break.
Salaried Professional: Thinking of retirement will not be less than atleast 60years
Business: Can think of getting retired at the age of 40 to 50 years
Salaried Professional: Answer each and every tom dick regarding the work
Business: no one to answer as you are your own boss.
though there are still loads of advantages of own business over salaried prof still business has few drawbacks without overcoming these you may fail very badly, as the business guy you should always be very active and work harder than any ordinary working class person, always be a step a head than your rivals, over come laziness etc etc.
at the end of the day a business is definitely better and offers more freedom in terms of improvement growth and to get Better social status though above are my experience