You have no idea what you're talking about.
As an employee, you have very little risk. If you are marketable, you can simply walk away and find another job. Your liability and responsibility are very limited. You have nothing invested in a business except time, for which you are compensated starting on day one. If you decide to live paycheck to paycheck, that's a separate problem unrelated to the employer
A business owner has no such luxury. Most of them put significant assets at risk in order to start a business, with no expectation of return often for years. While you can walk away, they cannot. They have to hire good people, make payroll, deal with bureaucracy, comply with regulation, answer to investors, and set and maintain the vision, and they have ultimate accountability to do so. All of that must happen in addition to actually performing for the customers. Owners (or CEOs) have ultimate liability for everything the business does, every day, and that liability often doesn't go away the day they decide to resign.
If you think it's so easy, perhaps you should put up or shut up. Risk is the main reason why folks who are otherwise unhappy working for someone else don't just quit and start their own businesses. Most of us are plenty smart enough, but it's hard to put everything you've worked for on the table for something that statistically is quite likely to fail.
JKG
Nor do you. Are you speaking about small privately held firms, or public companies, for one. No "owner" on many public firms, but founder's shares usually win in bankruptcy court. Most public firms know good and well their assets will either cover the founders, or they get golden parachute clauses and know when to "leave to pursue other interests and spend time with family."
Next, if you're talking privately owned, is the business paid off? I've got friends who's profits paid back their personal investments long ago. The business for them is simply a cash cow, after that, as long as expenses are manageable. They have virtually no risk. They cover themselves and partners with life insurance enough to shutter the business if they keel over dead and cover the partners. The most recent one had his investment covered in three years, and the business was already break-even when he bought it. He just made it more efficient and brought in new technology.
As far as liability goes, don't do stupid negligent crap, pretty much alleviates that... But there's also plenty of places that retain attorneys to mitigate the cost, and who consider that an investment, and a sunk cost, pre-profit, and still turn a profit. They also buy insurance for negligence. Gross negligence usually needs to be proven (negligence and gross negligence are different legal terms in most jurisdictions) to go after personal assets of CxO and Board members. Liability riders for personal assets are incredibly cheap, unless you're in a medical type field.
So... you may be projecting the state of the balance sheet of a particular business you know or own, but there's plenty of businesspeople who have very little risk when compared to some poor guy working paycheck to paycheck. In younger employees, they don't usually choose to live paycheck to paycheck, they're just less marketable at first. Huge risk for them, but they typically don't have a choice. It may not be the business owner's problem, but I've known many to use that to their advantage to over-work certain employees.
I've worked for folks who had all their I's dotted and T's crossed when the SHTF. One particularly spectacular self-destruction chopped 400 of 500 employees from the roles in one day, the owners sold it for $3M each (two owners) three years later. They never had more than $350K each at risk, and certainly didn't wait until it ate more.
Shoved the staff out the door, limped it along for 3 years with a skeleton crew, and found a buyer. Might I add this place was one of those rah-rah build it quick so we can go public places, red herring printed and everything, then the investors (three large banks) called it off. I was employee 42, and was dumped in the 400 person massacre. "Family values" and "we're all a big family" and all that Bull****. Learned never to do 70+ hour weeks for anyone ever again on promises that they didn't have personal control over.
So... Plenty of places where my assertion was true. The employees take a larger risk than the owner.
My advice to those who can't afford a year off...
(That's what my situation was back then, hammered my savings, but we never missed a mortgage payment, and through a strange turn of events where I probably should have sued the asses off of a recruiting firm and an IBM contractor, I never drew a dime of unemployment, either... But that's a different story that is sung to the tune of "We don't know why that manager has done it, but she's offered four jobs to people she wasn't authorized to hire, but we don't want to lose that account.")...
... "If you can't figure out what your employer's contingency plan is, it's dumping you. Plan accordingly."
PLENTY of risk there. Way more chance of personal bankruptcy for the majority of employees than business owners.
As far as "put up or shut up", most of the systems I've worked on are either directly inside or adjunct to natural monopolies in telecom, and that's the stuff I enjoy working on. I'd need about $250M in assets to even be a tiny player in that game. Never going to happen. I'm an operations guy by nature... Make the stuff run and keep it running. My skillset is overhead if the income stream stops. I'm quite aware of this, so I do my best to save folks a bundle... It comes in handy that they know exact how much, in lean times.
The only two people I know who made tiny telecom work, one was completely subsidized by government in a rural area, the other had three angel investors, and broke even after ten years.
Not a chance in hell I'd start a business for that, especially not in the telecom world.
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