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®.