5 Reasons People Are Leaving Corporate America And Moving To Business Ownership.

The Corporate America to Entrepreneurship Movement

We’re seeing an ever growing segment of the population, including Baby Boomers that are realizing their retirement funds are not going to take them through the Golden Age like they planned.

People in corporate America are tired of staying in positions where they are working more hours with fewer resources and less pay. They have experienced the loss of a job, or because of a reorganization, are tired of the extra workload without the extra pay or recognition.

5 Reasons Aspiring Entrepreneurs Are Leaving Corporate America

Lifestyle is the new wealth. When I ask clients the reasons they want to start a business, the number one reason isn’t always money; many times it’s lifestyle. Being their own boss, controlling their own destiny and earning unlimited income potential is all great, but the priceless possibility of being able to have the life balance they can’t achieve in corporate America is often more important to aspiring entrepreneurs.

1.    People are feeling unappreciated by corporate America. You do a really great job, you have all these accolades and win all these awards, but at the end of the day, a restructure or reorganization brings a new CEO, a company experiences a merger or acquisition, private equity can change direction, and people just don’t feel appreciated anymore. Again, it’s not all monetary here, more of it is about the way people feel about their time, self-worth, and lack of appreciation.

2.    There is no such thing as corporate loyalty. I hear that every day—clients talk about the companies they’ve worked for and they really did a great job for and felt loyalty to, but they don't receive that loyalty back. More today than ever before, companies are bought out or restructuring, which most times leads to downsized departments and elimination of experienced, quality workers. Peoples’ lives are in transition; they are worried about paying bills, supporting their family and paying for their kids’ college tuition make us realize we have to be pushed to make a change.

3.    Starting a business creates unlimited income potential for you and your family. You can either wait for someone to give you money and potentially take it away, or you can take control. Everybody has to decide for themselves when the right time is for to take control. The potential is there, but of course it does take some time and effort.

4.    People feel they are reaching their financial peak in corporate America. I have clients in the 45-60-year-old range that feel they are no longer employable because they’ve been so well compensated that other companies aren’t willing to match or exceed that compensation. They feel that since they have reached that in corporate America, the only way to earn more money is to go out on their own. Executive recruiters often tell me by the time employees get in their fifties, they are sometimes not able to help those people find a position or it takes an extended period of time compared to someone in their 30's.

How to Take the First Step

As a business career transition coach, I help my clients achieve the ability to dream again and to make that shift out of corporate America. I feel there are more possibilities out there for taking control of your destiny through business ownership, and people are taking advantage of the opportunities.

However, we often have to be pushed to make a change. Sometimes you have to have difficult things happen for you to get outside your comfort zone. It’s easier said than done.