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The Entrepreneur’s Source: Why Entrepreneurship Is Less Risky Than Employment

Originally Published in Forbes, 8/8/18: Choose Freedom Over Comfort: Three Reasons Why Entrepreneurship Is Less Risky Than Employment. Written by Terry Powell, Visionary Founder of The Entrepreneur’s Source.

I have to laugh when people say that they would never quit their job and start a business of their own. “It’s too risky,” they tell me. This comes after they tell me that they’re in a dead-end career and have a desire to find a better way. It’s amusing to hear that because I think the biggest gamble is to work for someone else. In fact, I believe entrepreneurship is the safest career path.

Of course, that is what you’d expect me to say. I’m the founder of the nation’s leading career transition coaching franchise and specialize in guiding entrepreneurs on their journeys of discovery. You’d expect me to say that you should strike out on your own and that you’re far better off not working for “the man.” But I truly believe in my gut that it’s riskier working for someone else than working for yourself. It’s why I’ve been an entrepreneur since I was a teenager.

So, if you’re thinking about leaving your current job but can’t quite muster up the nerve to jump out of the plane and pull the ripcord, let me encourage you to trust yourself and jump. In fact, I’ll give you three reasons why entrepreneurship can actually be a safer move than staying where you are.

People do get laid off.

I’m not trying to scare you. We are in a period of economic prosperity and job growth, so if you love working for someone else and don’t feel like worrying about it, that’s not surprising. But the economy fluctuates, and layoffs can and will happen. Four years ago, according to a Rutgers University survey, one out of five American workers had been laid off in the past five years and about 22% of those who had lost their jobs still hadn’t found another one.

Times are much better now, but even during good times industries can slip and layoffs and terminations can occur. You might one day be considered too expensive for your company. You could, one day, be in a job with good benefits, making six figures with five weeks of paid vacation and the next day be collecting unemployment and wondering how you will support yourself and your family.

So, if you have been thinking about starting a business, create your future career transition at a time of your own choosing rather than waiting for something unfortunate to happen (such as a layoff or job elimination) and then feeling like you are being forced to start your own business. Do it on your terms and your timeline.

Working for yourself means you can never get fired, laid off or told your position has been eliminated.

This is why I love working for myself. Sure, things can go wrong. Businesses sometimes fail. We all know that the worst can, and sometimes does, happen no matter what path you take in life. But what is unfortunate about working for someone else is that it’s possible to excel at your job and do everything right — and still lose your job.

If you’re working for yourself and doing everything right, that doesn’t happen. Nobody can come up to you and tap you on the shoulder and tell you that all your hard work and dedication is no longer needed. When you are working for yourself, only you can tell yourself when to stop working.

You’re the decision maker.

This is where the freedom really comes in. Of course, a lot of entrepreneurs discover that they don’t always have as much freedom as they thought they would when they become their own boss. If you own a franchise, you may have employees to schedule and train and orders or inventory to manage. You will certainly have customers to make happy. Until you have a great manager or two in place who you trust, you probably aren’t going to go vacationing in the South Pacific for a month, and even then it may be more like a long weekend.

Still, you’re the one who decides if you want a second or third business. You can have as big or as modest and stable a franchise enterprise as you want. You’re also the one who decides if you’re going to cut out of work early for the weekend or just to go watch your kid or grand-kid’s soccer game — without clearing it with a supervisor or manager first. When you run a business, there are responsibilities, to be sure, but all that hard work you’re putting into your business is for your company. It’s for your family. It’s for you.

If you really want to stay at your corporate gig, that’s up to you. But from where I stand, the people who take a leap of faith and pull the ripcord are the ones who truly have control.

There will be some late nights; but these tradeoffs will be YOUR decisions. The Entrepreneur’s Source® (TES) can help put you back in control of your own destiny.   And if you’re ready to get started finding your franchise match, get started at http://www.franchisematch.com/.



The Entrepreneur’s Source: What to Consider When Making a Late Career Transition

Originally Published in Forbes, 7/16/18: Three Things To Consider When Making A Late Career Transition. Written by Terry Powell, Visionary Founder of The Entrepreneur’s Source.

We all feel stuck in our jobs once in a while.

As a career transitions coach, I realize not everybody is at the point in their life where they’re ready to talk to a professional. So, if you are considering a new career and want something better in life, here’s some advice you might find helpful.

You are not alone.

Everyone can use career advice, and it isn’t a weakness to ask for it. No matter how intelligent, seasoned and experienced you are, as the old saying goes, it’s hard to see the picture when you’re inside the frame. We’re all better off when we bounce ideas off one another.

Try talking to some of your family members, like your spouse or your kids or your parents. Bring your friends into the fold and get their opinions on what you should do. You can even ask your attorney or pastor. You have many people in your life who could help you make a smart decision about your career.

And chances are, the people you talk to will understand how you feel. We all struggle with whether to stay in a position. A recent study of 4,900 professionals found that 33% of adults are bored with their job. And if you’re at all worried about losing your job, you aren’t alone there either: Twenty-one percent of adults fear being laid off from their job.

Many people change careers, including middle-aged and older Americans.

You may see yourself as someone who should soon start considering lounging on a beach in Florida. But remember that old cliché (which happens to be true): Age is just a number. You can do whatever you want with your career, no matter how old you think you are. And that’s exactly what people are doing. In the last several years, key media outlets like CBS and Entrepreneur Magazine have reported a trend in older Americans switching careers later in life.

In fact, in a recent report on retirement, The RAND Corporation found that many Americans retire then either go back into a new career or start up a new business. One of the authors called retirement “a fluid concept,” and said, “Significant numbers of older people move in and out of the workforce. Retirement isn’t necessarily permanent.”

So you shouldn’t feel as if you’re unable to leave a position late in life. In fact, many older Americans end up consulting in their industry, sometimes for the company that they were previously employed with.

Many senior citizens also buy franchises. There are numerous reasons franchises are attractive for older adults. You can be as busy as you want, hiring employees, scheduling, doing payroll and ordering inventory, or you can have your managers do it and go spend the afternoon gardening or seeing a movie. There’s plenty of work that can come with owning a franchise, but the more successful you are, the easier is to scale back and let your employees handle most or all of the labor you’d rather not do.

There’s nothing wrong with staying put — for now.

If you strongly believe that you need to leave your job but are resistant, there’s nothing wrong with deciding what to do later. After all, it’s easy to get anxious and create an urgency that isn’t really there yet.

If you are dissatisfied with work but feel that it’s too late to change jobs, maybe it’s actually just too early. Maybe you should wait a little longer until you’re truly comfortable making an exit and, in the meantime, use the extra time on the evenings and weekends to explore and consider what you might like to do someday for your second or third act.

Changing jobs or starting a business, at any age, is a big decision. You’re right not to want to rush. But you’re also right to not want to feel stuck, so if that’s how you feel about your career, talk over your options with someone. That’s a conversation and a gift to yourself that you’ll never regret.

If you’re ready for your Career 2.0®, visit our website and look around. There are a lot of professional resources available to you there. It’s the first step to breaking the cycle of the daily grind. We’re not saying it’s not going to include hard work.

There will be some late nights; but these tradeoffs will be YOUR decisions. The Entrepreneur’s Source® (TES) can help put you back in control of your own destiny.   And if you’re ready to get started finding your franchise match, get started at http://www.franchisematch.com/.



The Entrepreneur’s Source Asks: Do You have “Wanna Get Away” Dreams?

As the carefree days and warm nights of summer come to a close, so does (for most of us) the extra time spent with family and friends… and all too soon, it’s back to work and the “real world.”

Have you ever dreamed of what it could be like to trade your office desk for the beach house porch deciding if windsurfing, boat time, fishing, or all three, will be among your top priorities later in the day?  Here at The Entrepreneur’s Source®, we call it the “Wanna Get Away?” dreams – those times right after a vacation where you’re sitting at your desk staring at endless emails and knowing you will be traveling like crazy again away from your family.

We’ve all had those daydreams, and it makes you think about what it would feel like to actually ACT on those “Wanna Get Away?” moments by permanently leaving the corporate world.   You aren’t alone – most workers have zero job satisfaction because they have no chance for vertical movement within the company and are forced to cover several jobs, including their own. This situation robs them of their joy and motivation. Plus, like you, they are fearful of being swept up in the next round of downsizing, to create a better-looking bottom line to entice corporate suitors.  Isn’t it time to start taking more control from the Battered Career Syndrome?

According to a new Bankrate survey, only 36 percent of respondents who get paid vacation days plan to use all of them this year. About 13 percent of workers with paid time off don’t intend to use ANY of their vacation days.

Fear, an uncertain employment climate, and lack of professional growth opportunities is no way to earn a living, but many choose this path because they have bought into the belief they have no other way. This is the “Battered Career Syndrome” in a nutshell.   But are they (and YOU) truly candidates to ACT on the “Wanna Get Away?” feeling…and not just for a week in the summer?   YES – and we can help you do just that at The Entrepreneur’s Source® (TES).

At TES, we believe no one should settle for the “new normal” of corporate America today. Terry Powell, the visionary founder of TES, says there is another path: becoming self-sufficient by owning your own business, as an entrepreneur.

“The professional coaching environment The Entrepreneur’s Source® provides can help those suffering from ‘Battered Career Syndrome’ discover new options for career development,” says Powell. “We can show them how they can truly take control of their professional and personal future to achieve the Income, Lifestyle, Wealth, and Equity they, and their family, deserve.”

Powell outlines four key steps to start your transition away from “Battered Career Syndrome®” and going from Employment to Empowerment®:

  1. Purchase our Your Career 2.0® book which is your survival guide for the Battered Career and Investor Syndrome®: https://www.amazon.com/Your-Career-2-0-Survival-Battered/dp/1501025848/ref=sr_1_1?ie=UTF8&qid=1500062396&sr=8-1&keywords=your+career+2.0
  2. Assess your Goals, Needs and Expectations
  3. Create a well- defined plan that shifts you to your Income, Lifestyle, Wealth and Equity goals
  4. Be coachable and open to your possibilities, options and dreams by working with a The Entrepreneur’s Source® Career Transition Coach

The time is NOW never to feel the “Wanna Get Away?” blues ever again. You deserve more than your current job which has little security and zero chances for advancement while forcing you to cover more jobs for less pay.   No wonder you “Wanna Get Away!”

Pack your bag to investigate the experienced coaching and proven strategies The Entrepreneur’s Source® offers to help you assess your skill sets to find the right fit for a franchise business of your own. Who knows? You could be enjoying the opportunity to work from anywhere – like the beach-instead of a corporate office!

To start your journey today from “Employment to Empowerment®” and find your franchise match with a TES Career Transition Coach, get started at http://www.franchisematch.com/.


The Entrepreneur’s Source: You Want to Take Control of Your Career – Start Now!

The Entrepreneur’s Source: You Want to Take Control of Your Career  – Start Now!

From the time we are born we are told what to do. When you’re a kid, your parents tell you what to do. When you’re a student, your teachers tell you what to do. When you enter the workforce, your supervisor tells you what to do.

Wouldn’t it be great to NOT be told what to do?   Wouldn’t it be great to be able to figure some things out for yourself and have some time to discover some truths on your own?!?! A journey of self-discovery may be the most important journey you will ever take. Without question, prioritizing that journey of self-discovery is what sets The Entrepreneur’s Source® (TES) apart from all of the rest.

Our visionary and founder, Terry Powell, had his own journey of self-discovery and moment of clarity back in 1984. At the age of 36, Terry found himself bankrupt and divorced, with three children to support. He knew entrepreneurship was his path and he pursued that dream despite the naysayers. Along the way, he realized he had the desire and the ability to help others like him.

That moment of clarity lead to the creation of The Entrepreneur’s Source®. We are now the leading Career Transition  Coaching organization in North America. The keys to that success are what make us different – we are truly a coaching organization that focuses on education, awareness, and discovery.

Our coaches will not tell you what to do! What do you want out of life? What do you need in order to be happy? What gives you the most satisfaction? These are all personal questions that should involve a lot of thought and consideration on your part. It’s not always easy. Guiding you and helping you through the process is your TES coach.

Make no mistake though, with The Entrepreneur’s Source®, YOU are in charge of how fast or how slow you want to go. You are in charge of discovering what motivates you. We just help you along the journey. When you reach your moment of clarity, that’s when we present you with options.

This is where the differences between The Entrepreneur’s Source® and all the “other guys” are truly revealed. Anybody can give you a list of franchise businesses and tell you a little bit about them. That’s nothing special and it certainly doesn’t speak to your individual goals, needs, and expectations.

It’s what helped TES client and franchise owner Branden Bowden arrive at his point of clarity  even though he wasn’t sure about the journey  his coach was guiding him through at first.

“She was building a profile of what my interests were, what my background was, things I like, what things I didn’t like. With that, she was able to really cut through the time-wasting and get me in front of real opportunities,” Bowden told us. “I do know that if she had just put another long list of possible franchises in front of me, I probably would not have moved forward with business ownership.”

Another TES client, Mike Williams will be starting his franchise in the spring of 2019. He says working with his TES coach made all of the difference.

“She learned all she could about me and my interests and my background. She then started a search for suitable business ventures that fit for my personality and interests,” William’s explained. The help didn’t stop there. After narrowing down the choices, his e-source coach took the time to help him discover which business was right for him.

“She coached me through the discovery process, asked challenging questions, and truly helped me discover the best opportunity.”

Williams never felt rushed. “She was also extremely patient with me, allowing the process to go at the pace I was most comfortable with.”

The Entrepreneur’s Source has a company-wide philosophy about “dreamers”. Dreamers are exactly that; people who dream of going into business for themselves but are unsure and hesitant.  That’s where the real value of our coaching methodology  lies, empowering dreams and supporting that through education, awareness, and discovery.

TES client Chanel Jones went into business with her brother and sister. She says their path to entrepreneurship wasn’t always easy. “The process was emotional at times, exciting and scary. [Our TES coach] was there every step of the way. Any hurdle we faced, she worked collectively with us to find a way over the hurdle and was very present through the entire process start to finish. She was encouraging and her calming disposition was exactly what we needed to venture down this path.”

Look at it this way: If you’re considering going into business for yourself, it’s because you want to be your own boss. Shouldn’t that start with the actual process of choosing the business that’s best for you? At The Entrepreneur’s Source®, it’s the only way we do things.

Are you interested in learning more?   Get started on your journey of self-discovery and your very own franchise match at https://franchisematch.com/.