TRANSITION – IT’S NOT AS BAD AS IT SEEMS.
Pushed out because of ageism? Working in a dying industry? Victim of downsizing? If that sounds like you, I’ve got good news: even when you’re forced into a career transition, the change has a silver lining. Learn how transition opens the door to opportunity.
Many of the people who contact me are going through some kind of transition. Some are voluntary, but most often, it isn’t. Some of my candidates have been pushed out by their employers due to downsizing, and others are targeted due to ageism. Some can see the writing on the wall and are trying to develop a fallback plan before it’s too late. Still, others have spent too many years working a grueling executive schedule and need to find balance before they lose their health, their marriages, or both. Under such circumstances, it can be hard to recognize the benefits of transition. But benefits there are. Hidden behind the challenges are positive changes, and you can make the most of them if you know what they are.
FREEDOM
Many other franchisees I know, and from my own experience, know firsthand that freedom is the most significant benefit of transitioning to franchise ownership. If you’ve spent decades climbing the ladder at a company or maybe serving in the military, you can easily develop tunnel vision. You forget there’s an entire world beyond your current path.
Transition is an open door to that world. Big changes have a way of bouncing us out of our ruts and opening our eyes to new possibilities. Transitioning out of your current world gives you the freedom to experiment with new professional opportunities as your own boss. You also gain the freedom to shape your schedule to suit your life and family, not the other way around.
PROFESSIONAL DEVELOPMENT
Many corporate skills–like leadership and financial management–translate well to franchising. But franchising is also a different world. When you transition, you gain a whole new range of professional development opportunities.
The most obvious opportunity: you get to learn a new industry and a new business model. And thanks to the freedom of franchising, you get to operate with a level of independence you probably never experienced in the corporate world. That means new opportunities to exercise and develop decision-making, problem-solving, and leadership skills. Overall, you’ll find yourself working on new parts of your brain and using your experience in exciting new ways. Most importantly, you get to make 100% of the decisions with no corporate politics or bad bosses getting in your way.
NETWORKING
Connecting with colleagues and networking among friends and family is one of the primary benefits of transition. Whether you’re looking for new opportunities or growing your network as a new franchisee, expanding your circle is a positive change. Being part of a franchise is going to exponentially expand your professional network. It comes with access to an entire family of other owners, and the best franchisors nurture a culture of mutual support that you’ll love.
As a new franchisee, you can vastly expand your network and enjoy new relationships with people who will challenge and uplift you. Your fellow owners can offer advice, help you find partners and employees, and inspire you to achieve new heights of success.
WEALTH
Executive compensation at large corporations can be extremely generous, but it has a cap. Every job has an approved salary range and benefits package. No matter how hard you work or how much revenue you generate for your company, you’ll never get more than the maximum the company allows. Even promotions and bonuses have a ceiling. And at the end of the day, the biggest return on your work will pad the company’s bottom line, not yours.
Think of transition as a chance to blow all those limits to pieces. There’s a reason the wealthiest individuals in the world are business owners and entrepreneurs (or their heirs). When you become your own boss, the only limit to your wealth-building potential is you. Instead of the corporation taking the lion’s share and a small percentage coming to the employees, franchise owners pay just a small percentage in fees to the franchisor and keep the lion’s share for themselves. And if you want to work harder, lead your employees to better performance, or open new locations, it all benefits your business–which means it benefits you and your family.
Ready to talk about how to turn your unexpected transition into an exciting opportunity for you and your family? Book a call with me to start the conversation by clicking on my calendar LINK.
Irving Chung
FranChoice
214-908-9791