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The Entrepreneur’s Source: Is Entrepreneurship Your Safest Career Path?

The Entrepreneur’s Source: Is Entrepreneurship Your Safest Career Path?  We are in an entrepreneurial economy — whether working in corporate America or not, individuals need to have an entrepreneurial mindset to survive and thrive.

By choice (or not), over 43% of the American workforce will be self-sufficient in 2020. The inconvenient truth for many professionals is that the job market of today’s economy is making traditional career success harder to attain.

In the past, entrepreneurship used to be viewed as a risky business. However, in today’s New Career Economy®, investing in a business may seem daunting, it may be the safest route to success.

Workers are suffering financially and emotionally in a job market plagued by low salaries, long hours with few benefits, high turnover rates, and virtually no job security. Because of this frustrating environment, many workers are choosing to move from Employment to Empowerment®… turning to alternate means to achieve their Income, Lifestyle, Wealth, and Equity goals.

Today’s Economic State

NBC REPORTS: The nation’s middle-class has been shrinking at what some call an alarming rate, and even as the nation’s  technical skilled job market is grows, demand for many mid- to low-skilled, primarily middle-class positions is expected to decline rapidly. The Bureau of Labor Statistics (BLS) projects a loss of hundreds of thousands of such jobs in the coming years due to outsourcing and the development of new technology.

According new analysis by CareerBuilder’s Economic Modeling Specialists: More than 60 percent of 173 occupations projected to decline through 2021 are middle-class jobs.

Although these numbers may seem alarming for people entering the job market, these numbers are ideal for individuals wanting to enter into entrepreneurship. Since 1995, small businesses have accounted for 65 percent of new jobs according to Forbes – a very promising number. Specifically, in 2017, franchises are expected to  surpass the rest of the economy in job growth, according to the International Franchise Association. This change in the job market can be attributed to the New Career Economy.

Entering the New Career Economy

People are starting to want to take control of their own career and destinies instead of relying on a third party for employment. What once was the typical is becoming the atypical, and The New Career Economy® is evolving. An increasing number of individuals are realizing that they don’t want to sell their souls to corporate America with the threat of being laid off. Pragmatism is becoming more popular.

People are beginning to ask themselves the daunting questions of, “am I really happy with my career choice” and “am I where I thought I would be 10 years ago?”  A large amount of individuals are answering “no” to these questions, and because of this, the small business and entrepreneurial fields are experiencing growth.

Moving from Employment to Empowerment®

Workers are suffering both financially and emotionally with layoffs and outsourcing becoming the norm in the today’s job market. Because of this frustration, many workers are beginning to move from Employment to Empowerment®.

This morale detractor is causing people to shift to taking a proactive approach to becoming self-sufficient and taking control of one’s career rather than enter reactive employment and risking unhappiness.

“People are no longer empowered by the predictability of the career path they have been on,” founder of The Entrepreneur’s Source’s Terry Powell noted. Moving from Employment to Empowerment® is based on the idea that self-sufficiency can increase an individual’s morale, creating a happier entrepreneur.

For more information about the New Career Economy® and how and individual can move from Employment to Empowerment®, contact an ESource coach at The Entrepreneur’s Source®.

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The Entrepreneur’s Source Asks: Is Wall Street Looking Out For You?

The Entrepreneur’s Source Asks: Is Wall Street looking out for you? To make sound investment decisions investors need to expect the unexpected.

The majority of people place the power of their wealth-building and investments on others outside their control: Wall Street. The problem is the financial community they trust to do the right thing and continue to build their portfolios and yield a reasonable return has a history of disappointing investors.

Even those who experience a handsome return are very aware of the risk and are beginning to shift beyond the idea that others should control their wealth exclusively. Many variables impact the results of reactive investments. Portfolios are dependent on the economy, the stock market, rising private and government debt, aging demographics, and many other factors outside of investors’ control.

Looking at the past 20 years, investors have taken many roller coaster rides. A recent survey found that retirees who rely mostly on investments had the highest financial anxiety.

There is no question that investments play an important role in almost everyone’s financial futures not only to pay our living expenses when we retire but also fund the type of lifestyle that we would like to live. However, depending on a stock-heavy mix has too many unknowns… at some point, the music will stop, as it always does.

Forward-thinking investors understand the benefits of reorganizing their investments ahead of changing market conditions.

Do you want to reorganize your assets and savings, but you aren’t sure where to begin? The Entrepreneur’s Source franchise has defined our top five tips for smart investing to help you begin to take control of your investments and turn them into more proactive investments.

  • 1. Have a clear plan:

Before investing in anything, individuals should ask themselves why they are choosing that specific venture. People sometimes lose sight of their end goals, so The Entrepreneur’s Source believes that people considering entrepreneurship should start by asking “why” and continue remembering “why” throughout the process.

  • 2. Diversification is crucial:

Putting all of your eggs in one basket may turn out to be a recipe for disaster. Instead, investors should vary their portfolios with both passive and reactive investments in order to safeguard against losing control of their return.

  • 3. Pick Proactive:

Rather than choosing a group of reactive investments, transfer a share of your portfolio into a proactive investment, such as a franchise. This will allow an individual to gain some control over the return and not rely as much on the stock market or other factors that he or she is not in control of.

  • 4. Put emphasis on long-term goals:

Investors should determine their desired Income, Lifestyle, Wealth, and Equity (I.L.W.E.) goals and keep these in mind at all times. Establishing one’s I.L.W.E. goals can help to create a framework for growing a successful business and looking at what you want it to achieve for you in the long term.

  • 5. Seek help:

Chances are that this might all be new to you, so enlisting an alternative career coach at The Entrepreneur’s Source can be a great first step in overcoming Battered Investor Syndrome®. An E-Source coach can help keep you on track while also providing you with objective advice and support along the way.

For more information about how an alternative career coach from The Entrepreneur’s Source can advise you in modifying your investments through franchise ownership, contact one today: http://www.entrepreneurssource.com/contact.html.

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