A life defined by corporate security, as we know it, is over—and has been for a while now.
“Business ownership is not a dream… it’s a necessity.” That phrase appeared in a Wall Street Journal advertisement in 1980, and it’s truer today than ever.
Consider this real-world example: a man worked at a major company for more than 35 years, rising to become the highest seniority truck driver in his regional teamsters’ union. Despite his entire lifetime spent as a great driver—never a ticket, never an accident—he had to endure a 50% retirement cut because of a new policy implemented just months before his pension date. His security was over.
There is no such thing as corporate security any longer. No more millions in Sears, GE and IBM pension benefits for employees to retire on. Today, corporate security and massive pensions are only for a privileged few.
Many businesses seek part-time employees in order to avoid massive health care and benefit costs. Cutting these kinds of corners has become a matter of survival for many companies.
True security lies in being your own boss. Today’s changing culture—coupled with the prospect of being fired at will and the vulnerability of profit-based pensions—makes owning your own business that much more attractive.
All the best, Frank Kovich
