History tends to repeat itself, but what really matters is not macroeconomics, but how you can take ownership over your generational legacy.
Start with the Roaring 20s when jazz music and flappers took centerstage. The end of World War I and a pandemic ushered in a dynamic period of economic growth and social change. But the stock market collapsed in 1929, marking the beginning of the Great Depression.
Remember when Netscape, Napster, and GeoCities were riding high? Investment in tech startups created a booming economy during the 1990s. The dot-com bubble burst in 2000, and many tech companies shuttered their doors and sent a generation of young Americans hunting for a new career path.
Spurred by low interest rates and easy credit, a thriving housing market helped the economy regain its footing following the technology implosion. Right on track, subprime mortgages and missteps by large banks sparked the housing market to collapse in 2008, creating an economic downturn that lasted 18 months. Dubbed the Great Recession, one out of every five Americans got their walking papers.
The cyclical nature of the economy and the lack of job security during a downturn is causing an epidemic of Battered Career Syndrome. Coping with the constant threat of layoffs and lack of upward mobility takes its toll. If the current news of skyrocketing home prices and high inflation are putting you on notice that the next downturn may be on the horizon, it’s time to step off the corporate hamster wheel and put your feet on solid ground.
Career Coaching Leads to Financial Freedom
You can stop history from repeating itself. It’s possible to turn your dreams into a reality. You have options. End the vicious cycle of career dissatisfaction by relying on The Entrepreneur’s Source® to guide you on a path to financial freedom. Invest in yourself to create generational income, lifestyle, wealth, and equity for your family.
A Career Ownership Coach™ at TES can help you chart a new course. TES coaches help people discover their goals and hold them accountable to achieving their vision. They can help you discover whether you want to continue working in the corporate world and diversify your income by pursuing entrepreneurship, start a business from scratch, or invest in a franchise.
Future of Franchising Is Bright
Tackling a Career 2.0® can be daunting, and starting a business from scratch is a high-risk proposition. Franchising allows entrepreneurs to invest in a business with a proven track record and clear path to profitability.
Economists are starting to see signs of an end to our country’s current economic boom. The end of the Roaring 2020s may be on the horizon, but the franchise industry is thriving. The franchise industry is forecast to add 17,000 new locations in 2022, ending the year with more than 792,000 establishments. Franchises are slated to earn $826.6 billion in 2022, up 4.9% from last year.
Business ownership can help you weather economic downturns and break the vicious cycle of history repeating itself. If you are considering franchising, TES has some tips to help you get started investing in yourself.
- Know Your Goals. Taking time to discover your Income, Lifestyle, Wealth, and Equity™ goals will put you on the right path to achieving the American dream. Knowing your goals and having a solid five-year plan will enable you to pick a business that is right for your future.
- Get Help. TES has more than 37 years of experience in alternative career coaching. Our coaches hold people accountable to their goals and provide guidance as they consider new possibilities. Our coaches are entrepreneurs, and they have the resources to help you get started; because they’ve been in your shoes. In a similar vein, franchising provides a guidebook for running a successful business with ample training and ongoing support.
- Conduct Your Research. Before you pick a business, take time to do your research to make sure it will help you achieve self-sufficiency. Talk to people in the industry to understand current trends. If you decide to open a franchise, connect with your peers to learn best practices, and gauge their opinion of the brand. If they are struggling, it may not be a good fit.
Learn More About Business Ownership
If you are enduring a career transition, contact a Career Ownership Coach™ to learn more about entrepreneurship. For more information about TES, visit www.entrepreneur’s source.com, or check out our guide book, “Your Career 2.0® A Survival Guide for the Battered Career and Investor Syndrome®.”