According to the polling giant, Gallup, more than 70% of US workers hate their jobs or are completely disengaged from them. (source)
For these people, planning their next career step is obviously of great importance.
But even if you like your job, here are five reasons why you should start planning your corporate exit or next move right now.
1. You never know when you could get fired.
I’ve worked for two high-net worth individuals whose financial situation makes them (and their employees) nearly impervious to financial distress, the economy, etc.
Even so, I (and anyone else) could get fired at any time.
In other words, regardless of how secure you think your job is, your boss could still lose his mind and fire you at any moment.
As James Altucher warns, you must be wary of the number of people who can make a major decision that could ruin your life.
If you rely solely on a corporate paycheck for your livelihood and your boss fires you, he could damage your life in a serious way.
If you’ve ever been let go “on good terms,” you’ve probably heard the phrase, “it’s not personal, just business.”
This sentiment goes both ways.
So don’t feel like being open to other career opportunities is dishonest or seditious.
You don’t owe your employer anything (unless you’ve signed some sort of legal contract) just like they don’t owe you anything when you get fired.
You can maintain an openness to other opportunities by knowing what jobs are available, keeping your resume up-to-date, and taking interviews whenever possible.
Remember, you never have to take a job you interview for.
But interviewing is an important skill to have for as long as you remain in the corporate world.
More on this in the next section.
2. You never know what else you could get.
It’s helpful to interview for jobs when you already have one because interviewing is like dating – you never want to appear desperate.
If you don’t have a job when you’re interviewing or you believe that having a job is the only way to make money, then you will appear desperate to potential employers because you are desperate.
I was desperate when I graduated from USC with $90,000 of debt, a French degree, and 100+ companies saying no or never responding to my job applications.
I was desperate when I got my first job managing social media at Foot Cardigan.
This is why I accepted their $15 per hour offer without hesitation or a counter – because I didn’t even believe I was worth that much.
On the other hand, when you take an interview and you already have a job or are confident in your ability to make money online, you have ultimate negotiating power because you’re negotiating from a position of strength.
You could ask for a higher salary, work-from-home status, or better benefits.
If they can’t or won’t meet your demands, that’s fine.
You already know how to provide for your livelihood.
But the only way you refine this skill of interviewing and the only way you know what other opportunities are available to you is by taking interviews and keeping your eye out for new opportunities.
3. You never know when your company could fail.
You might work at a behemoth like Google, Facebook, or Amazon where the likelihood of your company failing seems next to zero.
Nevertheless, companies that seem impervious to change can die in a matter of days or months thanks to technological advancement, up-and-coming competitors, or a lack of internal innovation.
Kodak is a great example of a company people thought would be exceptionally profitable forever that quickly lost its footing.
Or what about MySpace?
In 2007, it had a $12 billion valuation.
Just 6 years later, it sold for $35 million.
That’s less than 1% of its original valuation! (source)
Facebook happened and now MySpace is a joke.
These aren’t the only two examples of companies falling from greatness.
In fact, there are countless more examples of businesses seemingly too big to fail that fool everyone and die a quick death (think Enron or Bear Stearns).
The trend of companies dying is only accelerating as time goes on.
In 1958, companies remained in the S&P 500 for an average of 61 years.
In 1980, they lasted on average 28 years.
In 2012, companies in the S&P 500 remained there for only 18 years. (source)
This data is for the best companies, those 500 businesses that are most highly valued by investors.
For the rest of us who don’t work for the best companies in the world, there’s a 50% chance our employers won’t be around just 5 years after starting!
So don’t wait on your company to die, shut down, or get acquired to figure out what to do next.
Pursuing passive income today is one of the best ways to prepare yourself for a future without reliance on a corporate paycheck.
How do you pursue passive income?
Here’s an article I wrote about it!
In that article, I mention how blogging is an excellent way to earn passive income which is why I recommend Bluehost web hosting.*
Bluehost is inexpensive, easy to use, and can enable you to get started building a WordPress blog today with the click of a button.
4. You never know when machines could take your job.
There’s no question about it.
When machines take your job, you can’t just get that same job at a different company.
Your job is gone (most likely) for good.
So how do you prepare for this?
There’s a film scene that illustrates this point in the movie, Hidden Figures,* based on the true story of the African American women who crunched numbers for NASA and were invaluable in getting American astronauts to the moon.
Dorothy Vaughan, a woman who helped calculate rocket trajectories and other critical math problems by hand, saw the writing on the wall when NASA obtained a then state-of-the-art computer from IBM.
Soon, her job would be done by this computer.
So what did she do?
She became an expert FORTRAN programmer, the language used to code this IBM computer.
Instead of losing her job, she learned new skills to keep her employable and use this supercomputer.
You too can learn new skills, and with the web, it’s never been easier to do so.
For example, freecodecamp.com is a great website where you can learn how to code for free while helping solve problems for non-profits.
You can also take a look at this infographic of 21st century skills that are high in demand if you need direction as to where to begin.
5. You never know when you could lose your health.
Jon Morrow was born with a rare neuromuscular disorder leaving him essentially paralyzed from the neck down for life.
Doctors said he wouldn’t live past age 2.
Now he’s an adult with a wildly successful blog that earns him serious money and allows him to live wherever he wants and do whatever he wants.
Obviously, it wasn’t, isn’t, and never will be all roses for Jon.
But there was one point in his life where, if he accepted a corporate salary, he wouldn’t receive government subsidized health care.
In other words, the system had him in a catch-22.
His choices were:
- Accept government health care, never take a corporate salary, and be poor forever or
- Accept a corporate paycheck, pay his own health care, and be poor forever.
You know what he chose?
What he actually did was move to a different country with cheaper health care, worked in exchange for favors, and cashed in every single one of those favors when he started his own blog so that he had excellent blog traffic from day 1.
Jon never had the luxury of good health, the corporate system was always stacked against him, and if he had relied on a corporate paycheck to pay for his life, he would literally be in poverty till he died.
Be like Jon and learn how to make money outside of the system.
Because you never know when you could lose your health or when the corporate system could be stacked against you.
These are just a handful of reasons to start planning your corporate exit or next job right now.
But there are many more.
One day you will wake up and decide it’s time to leave your job, or your boss will decide that for you, or your company won’t exist anymore, or your job won’t exist anymore, or you will have lost your health.
That day you’ll wish you had started planning for this years ago.
So start planning your next step today.
As said before, I recommend starting a WordPress blog with Bluehost.*
It’s simple, affordable, and if you use my link, you can get started for 50% off the regular price at just $3.95 a month!
Countless people with no technical expertise have used blogging to escape the corporate lifestyle forever earning six figures or more blogging.
Will you be next?