human resources best practices
What is your New Plan B? kathleenRICH-NEW Kathleen Rich-New
specializes in helping others create their new Plan B. For more information, contact
KRN@clarityworks.biz or visit
ClarityWorks.biz
Or, Will You Have to Work Until You Die?
This is a new economy and we must adapt to the new reality. Many seemingly secure jobs, companies and retirement funds have been destroyed. Those in their 20’s and 30’s will never know job or career security.
Future success will depend on your ability to be entrepreneurial instead of working long hard hours at a job. Kiss ‘Plan A’ goodbye. Plan A is working for a company for
20, 30, even 40 years and getting a lifelong pension and bene- fits. Only a few will have that luxury and the younger workers aren’t interested at sticking around for decades. Expecting a traditional job to create enough wealth for a financially secure retirement is no longer a viable option. Americans are living longer, many will celebrate their 100th
birthday and that takes a
lot of money. Companies, also hard hit by the down economy are scaling back, and if they survive, many will no longer offer lifelong pensions or healthcare benefits. So you need a plan, a new ‘Plan B’. Without one, you will
have to work well past the age you expect to retire. You can decide now to take charge of your life and learn how to create a new Plan B.
There are five key points with any business: 1) The market
demand needs to be growing; 2) There must be unique products and exclusive technology; 3) You must be allied with powerful partnerships; 4) The compensation must adequately reward time and effort; and 5) The timing must match your situation. And as with any business you need the right players working with you, players that are already successful. Venture capitalists agree that your team is more important than your business idea. If you are over 40 and start your own business and it fails,
(90% do fail), then you probably don’t have the time to recover financially for your retirement. If you are considering a franchise, you will want to
understand the total investment of money and your time. For example, a Subway franchise costs about $200,000. If it is success- ful you are making about $1,200-2,000 profit per month and probably working 60 to 80 hours a week. That means you must
3 Ways to Create a NEW PLAN B as a Business Owner Buy or Start your own business
8High Investment of Time and Money 8High Failure Rate 8Significant Risk
Buy a Franchise
8 8 8 8 8 8
84]JULY2010
spacecoastbusiness.com
Higher Success Rate World Class Branding Proven Systems Limited Expansion Capability Large Investment for Startup – Plus Royalties Significant Risk
Build a Network (Network Marketing)
8 8 8 8 8 8
Professional Branding Proven Systems Comprehensive Training Unlimited Expansion Capability Low Barrier of Entry Very Limited Risk
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100