new career economy cdn 2011
TRANSCRIPT
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THE NEW CAREER ECONOMY®
THE NEW CAREER ECONOMY®
CINDY KEMP SELF-EMPLOYMENT COACH
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AgendaAgenda
• Reality – “things ain’t what they used to be”
• Preparing for Your Family’s Future
• Protecting Yourself in the New Career Economy
• Alternative Career Options
• The Power of Franchising
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Canadians workers face job uncertainty
Canadians workers face job uncertainty
The job market is changing.The time to explore your options
Is NOW
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Our Present EconomyOur Present Economy
• Recession: Defined as two consecutive quarters of decline in real GDP
• 1929 – recession lasted 22 months
• Aftermath of 9/11 – almost 12 months.
• Second recession in a decade
started in December of 2007
• 36 months later - is it over?
• Is it really still a recession or the New Career Economy?
Source: StatsCan
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Unemployment: do statistics tell the whole story?Unemployment: do statistics tell the whole story?
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“I never thought it would happen to me” “I never thought it would happen to me”
• The length of time to find new employment has grown.
• Competition is fierce – the rise of social media an networking events is evidence that everyone is trying to fund an “edge”.
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WHO GETS HIT THE HARDEST?WHO GETS HIT THE HARDEST?
• Good News: In a typical economy, unemployment rate for people with college degrees is approximately half for those with no degree.
• Bad News: This economy is anything but typical.
• In fact, senior executives are among the hardest hit.
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Can working a job give you the life you want? Can working a job give you the life you want?
• Nearly all of us must work for a living
• Can working as an employee finance your family’s dreams?
For many, a reliable career in Canada is becoming a thing of the past. Why?
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Still believe in Corporate Canada?Still believe in Corporate Canada?
• There is a dramatic increase in the rise of out-sourced service centres =
visible loss of jobs.• Pension plans are under-funded – if
you even had a pension plan.• The collapse of the stock market last
year left corporate pension plans underfunded by billions of dollars.
• Eroding confidence in corporate executives – StatsCan has reported that the average salary in Canada is $42,888. Corporate Executives are 155 times that…
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The reward of progress? The reward of progress?
More work hours = LESS:
• Leisure time
• Paid vacation
• Sick leave
• Time with loved ones
Longer work days. More stress.Source: American Time-Use Survey, BLS, 2004.
0
10
20
30
40
50
60
70
80
All married
couples
Married couples
with no children
Married couples
with children
under age 18
Combined work hours of husbands and wives
1969
1979
1989
2000
2004
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Building someone else’s wealth?Building someone else’s wealth?
North American workers labor longer
hours than anyone else in the industrialized
world.
For what?
Are we out of our minds?
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“Careers” in the New Career Economy®?“Careers” in the New Career Economy®?
The lifetime of a typical employee:
– 6 to 8 job changes
– at least 3 changes in profession
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WHO HAS CONTROL OVER YOUR FUTURE?
WHO HAS CONTROL OVER YOUR FUTURE?
Colossal consumer debt Longer work,
less money
Company downsizing
Enormous corporate
bankruptcies
Lengthy lay-offs Massive pension deficits
The elimination of benefits Social Security
insolvency
There could be a storm on your horizon
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DENIAL WON’T CHANGE YOUR FUTURE
DENIAL WON’T CHANGE YOUR FUTURE
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The Quest for the Good LifeThe Quest for the Good Life
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Look beyond your circumstancesLook beyond your circumstances
• Traditional jobs no longer provide the Good Life.
• The clock is ticking - how long will you wait?
CONTROLLING YOUR OWN DESTINY IS KEY!
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Everyone wants to Steer their own ShipEveryone wants to Steer their own Ship
• Know your OPTIONS!
• Break free from the traditional employer- employee relationship
• Learn what successful people are doing
Successful people DO steer their own ship
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Perhaps it’s time to consider working for the perfect employer …
YOU
Perhaps it’s time to consider working for the perfect employer …
YOU
• Successful people work to build their own future, not someone else’s
• What are your options for self-sufficiency?
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What do these companies have in common?What do these companies have in common?
• Hyatt Corp
• Burger King
• IHOP Corp
• The Jim Henson Company
• FedEx Corp
• HP
• Microsoft Corp
• CNN
• MTV Networks
• Wikipedia Foundation Inc
• Sports Illustrated
• GE
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What do these companies have in common?What do these companies have in common?
• Hyatt Corp - 1957
• Burger King - 1954
• IHOP Corp - 1958
• The Jim Henson Company - 1958
• FedEx Corp - 1973
• HP – The Great Depression
• Microsoft - 1975
• CNN - 1980
• MTV Networks - 1981
• Wikipedia Foundation Inc- 2001
• Sports Illustrated -1954
• GE – 1876 (6 year recession)
THEY WERE ALL STARTED DURING A RECESSION!
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IS SMALL BUSINESS THE ANSWER?
IS SMALL BUSINESS THE ANSWER?
• 97% of businesses in Canada are classified as “small”.
• Small businesses contribute nearly 43% to Canada’s economic output.
• 75% of small businesses employ fewer than 5 people.
• 59% of small business owners are men – 41% are women.
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GOING TO ALONE = LOWER COST/HIGHER RISK
GOING TO ALONE = LOWER COST/HIGHER RISK
To succeed you must have:
•A marketable product or service
•Expertise to management a business alone.
•Vision and planning.
•Cash and/or access to a friendly bank
•The ability to take risk
•Relationships and Good Luck
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Why most independently-owned small businesses don’t workWhy most independently-owned small businesses don’t work
• Fatal assumptions lead to fatal problems
• Common wisdom says do what you know, love and enjoy
• The reality of going it alone.
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Some “F” words to keep in mindSome “F” words to keep in mind
• Frustration
• Fear of Failure
• Financial Constraints
• Family & Friends
Keep your eye on the prize: FINANCIAL FREEDOM
Which “F” word will you base your future on?
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The alternative to going it alone:find a TEAM to support you The alternative to going it alone:find a TEAM to support you
• Millionaires are "team-made"
• A good wealth team should consist of the following key players:– Mentors who act as active
coaches– Like-minded, supportive, wealth
builders and visionaries
Where can you go to find such a team?
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FRANCHISING – DID YOU KNOW? FRANCHISING – DID YOU KNOW?
• Franchises account for 40% of all retail sales (*Walmart is not a franchise*)
• There are 78,000+ franchises in Canada
• Franchising employees over 1M Canadians
• Franchising accounts for 10%+ of the gross Domestic Product
• Franchising accounts for 1 out of every 5 dollars spent by consumers in goods and services
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GOALS – NEEDS - EXPECTATIONSGOALS – NEEDS - EXPECTATIONS
Four crucial steps:
• Define your goals
• Map your course
• Build a winning team
• Explore your options
Your business is the vehicle that will take you there.
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Summary Summary
• There many dangers and threats to your family’s security
• We can no longer just look the other way
• You owe it to yourself to explore your options – TODAY!
• Information is one of the keys to your future
• Franchising manages the risk of business ownership
• Partnering with a coach is critical
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Next Steps Next Steps
Thank you for allowing us to share this information with you. • Continue the process of exploring your options
• Take some time to consider your Goals, Needs and Expectations
• Visualize Financial Freedom and your Lifestyle
• Visit me at Booth 406