Wednesday, January 9, 2013

A New Year – A Time for Reflection, Evaluation and Planning



As the New Year begins, it is a time for reflection, evaluation and planning. This is an important process from both a personal and professional perspective. From a personal perspective, we typically consider our interactions with others, attitude, physical well-being and Income, Lifestyle, Wealth and Equity (ILWE) goals. On the career front, our focus should be on the vehicle that will serve our ILWE. Reaching your personal and professional goals doesn’t have to be a long-term process; for example, living a healthier life requires a daily commitment of exercise and adhering to the proper diet, but the likelihood of long-term success drastically increases when you work with a nutritionist or physical trainer. Likewise, reaching your career goals nowadays requires some out-of-the-box thinking and support, maybe even from a career or business coach. In either event, now is the time to begin the journey.

When reflecting on your career options, let me ask you, “Is your current career path on track with hitting or exceeding your ILWE goals?” If not, perhaps it is time to explore alternate career options, including the pros and cons of business ownership. Depending on where you are in your career, this might be the time to take your financial future back into your own hands. As a business and career coach, I can help you understand the benefits of business ownership, introduce you to different concepts and explore how these align with your ILWE goals. When evaluating business ownership versus employment, keep the following in mind:


• Careers are no longer uninterrupted and seamless due to companies merging, downsizing and rightsizing.  Many of our clients worry about how long they will remain employable;

• Career income streams are being interrupted with long periods without earnings and benefits.  Many of our clients worry about how they will fund their longer and active life expectancy;

• Wage earners can expect six to eight job changes by the time they are forty.  Many of our clients worry about the fact that today’s jobs are very short-lived;

• 75 percent of the adult population has a desire to be self-sufficient; however, only seven percent are self-sufficient.  Many of our clients worry about the fact that in the conventional job market there is little to no opportunity to build wealth and equity.

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