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 Covich
What replaces corporate security
For decades, corporate security meant a steady paycheck, benefits, and a pension at the end of a long career. The story in the article shows how fragile that promise can be: a loyal employee with decades of service saw his retirement plans change just months before his pension date. Stories like that explain why more people are looking for a path they can control.
Owning a business does not remove risk, but it moves control into your hands. You decide how to earn, how to grow, and how to prepare for retirement, instead of relying on a company policy that can change. That control comes with responsibility, so build your own safety net with savings, appropriate insurance, and a retirement plan, and talk with a financial advisor about what fits your situation.
If you are exploring a replacement for corporate security, take your time. Compare franchise and independent options, ask for documents you can verify, and avoid any opportunity that promises quick or guaranteed results.
Related reading
- Franchise vs. Independent Business Opportunity: Which Fits?
- Business Opportunity Marketplace: The Earn From Anywhere Guide
- SBA guide to planning your business
Further reading: Wikipedia: Chief security officer and Duke University.
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