Breaking Through Paycheck Addiction
April 18, 2018
by Phil Kuban
Addiction is no longer a taboo subject reserved for discussion behind closed doors. The declaration that the U.S. is facing an “opioid crisis” and the
profound number of families tragically touched by addiction has driven the conversation to the forefront.
While I may not have faced addiction in the clinical sense, I did struggle to break through some long standing bad habits that were holding me back professionally
and personally. I had to admit to myself, and to my family, that my attachment to my corporate paycheck, much like an addiction, was lulling me into
a comfort zone and a false sense of security. I needed to break free.
The three most harmful addictions are heroin, carbohydrates, and a monthly salary.
~Nassim Nicholas Taleb
We’re trained to believe that climbing the corporate ladder is the only path to success. It’s seemingly hard-wired within us to cling to predictability
and the “known” believing that change signals danger. We buy into the idea that sustaining that little pay stub will lead to personal and career satisfaction.
If all that were true, why was I becoming less satisfied the more times I punched that proverbial time clock?
It wasn’t until a family, cross-country drive that I awoke to the idea that this way of thinking was holding me back. I’ve shared that experience
many times over the years as it became the catalyst to my entrepreneurial adventures in business brokerage, area development and franchise consulting.
It was not a breaking point, but a breakthrough. I decided in that moment to leave my corporate position to start a business of my own; and, I’ve never
The Long and Short of Job Security
For some it’s true that staying with a perceived, predictable paycheck may make you feel more secure in the short term; however, it’s really a false sense
of security. As time marches on, the chances increase exponentially that you will face unexpected job loss. Securing new employment takes time; and,
recovering from that income gap in pay can be financially and emotionally devastating
As I began my career in business brokerage, and eventually franchise consulting, I found the exact opposite is true in business ownership – especially,
when the owner is matched to a well-suited business.
Yes, launching a career as your own boss means breaking your paycheck addiction. It may even expose you to some level of risk in the short term; but, the
risk is reduced over time as the business grows. Plus, instead of someone else holding the purse strings and gaining all the equity in the company,
you are building an asset that could lead to a profitable equity event and an exit on your own terms.
Yes, you may have to let go of that predictable paycheck in the short term for a longer-term payoff. However, FranNet’s 30 years of experience has shown
investing in yourself through the franchise business model can not only be a rewarding and fulfilling career path, but a solid risk-mitigation strategy
I know you may be thinking you agree, but you’re just not in a position to break completely free right away. You’re not alone. Semi-absentee franchise
models allow you to keep your day job
and benefits while ramping up your business.
The first step is finding the business that suits your unique skills, goals, location and budget. The second step is performing the necessary due diligence
to make an educated decision about moving forward with your business. As your consultant, it’s my job do guide you every step of the way.
Conceivably, you’ve already confessed to yourself that your paycheck habit is not serving you well. Maybe you find yourself staring down the road at yet
another downsizing and thinking, “there has got to be a better way.” Or, perhaps you’re already well aware that your monthly paycheck may no long hold
the key to the financial future of your dreams.
Whatever your reason, the first step is to admit to yourself when those long-standing beliefs need to be addressed so you can break through your paycheck
habit. Call me at 770-973-0221
and let’s start the conversation about your recovery and your discovery.
Phil Kuban believes a combination of the right franchise opportunity and the right exit strategy is key to building wealth and equity as
a business owner. That’s why he suggests prospective entrepreneurs always, “begin with the end in mind.” For more than 30 years, Phil has enjoyed helping
people realize their dreams of business ownership.
His personal experience as a franchisor, franchisee and area developer is instrumental in the expert guidance he provides his clients. Master franchise
development is Phil’s specialty and he’s widely recognized for his ability to spot emerging franchise brands. Connect with Phil at email@example.com
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