Posted by Dave Lorenzo - Business Coach

I agree with young entrepreneur Adam McFarland:

“The life of a successful entrepreneur is much more ‘secure’ than the life of a typical business owner and it’s not even close. An entrepreneur usually has multiple streams of income, can’t get fired at any time for anything (what are the odds that all of their customers fire them at once?), and if they decide to leave the business they can sell it (try selling that job you got fired from).”

Nine-to-fivers who are skeptical of new ventures usually cling to the following Three Lies of Career Limitation:

Security. People who work for companies tend to believe that their jobs are stable and secure. Though the hours and tasks are usually predictable, in actuality, they enjoy no more security than any smart and hard-working entrepreneur. The only security you will ever have is confidence in your talent, skills, and knowledge. Even the best performing employee can be laid off in times of low returns. In fact, some companies have been known to lay off their most talented employees. Those who have worked hard and fought for fair pay and benefits cost the company more in the short term, so they are sometimes the first to go. Don’t make the mistake of confusing routine with security.

Benefits. Many people who work for others are afraid that if they work for themselves, they will no longer have paid vacation, health coverage, and a retirement plan. It is true that, as a business owner, you must assume responsibility for your financial future yourself. However, since your earnings potential as an entrepreneur is much greater, you can pay for these benefits and have money left over to save. You might even be able to retire a decade before those friends of yours with “stable jobs”. When you call the shots, you have much more flexibility, so you can go on vacation when you want and plan your life in the way that makes most sense to you.

Loyalty. Employees who have worked for companies for a number of years—or, in some cases, only a short time—believe that they must repay the company that has been good to them with their loyalty and service. Let me remind you that if you weren’t generating profits for your company, you wouldn’t have a job. The average employee yields at least ten times his salary for his employer. Exceptional employees can bring in much more. You don’t owe your company anything, and if you’re not getting a strong return on your time and energy investment with them, you should feel free to look elsewhere.

As Adam points out, we’re not all meant to be entrepreneurs. Some people are very happy working for companies. However, I do encourage everyone to keep an open mind and an active spirit when it comes to their careers. The traditional employment scenario is not the only option available to you, and you never need limit yourself because the alternatives are too risky.

Filed under: Entrepreneurship - General
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1. […] David Lorenzo presents The Three Lies of Career Limitation posted at The Career Intensity Blog. Nine-to-fivers who are skeptical of new ventures usually cling to the following Three Lies of Career Limitation: Security, Benefits, Loyalty […]

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