Job Security Is an Illusion — Here’s How to Leave Your 9-to-5 and Become More Successful, From 4 People Who Did It

For years, most of us have believed that the key to a secure life is to find a everlasting job with a reputable company. An everyday paycheck, advantages, and a clear profession path are considered the ideal safety net. This is the message that society continually instills in us, which is why we try to get that college degree.

But the world is changing, and job security in traditional professions seems to be shrinking. For example, the Covid-19 pandemic has caused widespread job cuts across industries, with 360 technology firms shedding greater than 100,000 staff, according to data Exemptions.fyi.

Meanwhile, the availability of digital tools, online marketplaces, and a vast support network that previous generations didn’t have access to is making it easier for young entrepreneurs to create something for themselves. In fact, 50% of Gen Zers want to start their very own business, according to SAMSUNG.

These circumstances are causing more and more people to seek alternative routes of earning money through entrepreneurship and self-employment. The Census Bureau has recorded a record high number (*4*)5.5 million recent business applications filed in 2023, while the US Bureau of Labor Statistics has provided a list fast-growing careers where the self-employment rate is high.

Let’s take a look at some real-life examples of young business owners, parent entrepreneurs, and side hustle entrepreneurs. Nonsensewho took a risk for his own safety.

The illusion of job security

Employment is often perceived as secure, but the reality is very different. Companies often downsize or restructure for a number of internal and external reasons, which might lead to unexpected layoffs.

Even major firms like Google and Microsoft have made significant job cuts this 12 months, with some experts saying layoffs in various industries are likely to proceed amidst the economic recession. It is alarming that countless staff are losing their jobs overnight, no matter their seniority.

Relying on yourself is the best solution

Given the uncertainty of conventional employment, entrepreneurship becomes the best path to success and achievement. Being self-employed means you have full control over the operations and direction of your corporation. You can set your personal goals and schedule, make your personal decisions, and align your corporation with your values ​​and passions.

When one of our experts and mentors at Fud, Megn, was diagnosed with a nervous system disorder, it ended her 15-year corporate journey. She took matters into her own hands and founded a company selling homemade soap barsHer perseverance and real interactions with her customers have helped her grow her brand, which now includes two of her own retail stores and an Etsy shop.

Another advantage of entrepreneurship and self-employment is the ability to create multiple streams of income. Instead of relying on one paycheck from one employer, you’ll be able to earn money from a number of clients, products, or services.

Take for example, keighleywho left the corporate world to turn into a digital entrepreneur. She makes money selling digital products, creating online courses, and running multiple TikTok stores.

The Role of Technology in Starting a Business

Starting a business used to require significant capital and resources, but that is now not the case. The barriers to entry are much lower thanks to reasonably priced technology and accessible information.

For example, e-commerce platforms like Shopify, Amazon, and Etsy allow you to arrange an online store in the blink of an eye. You can promote your corporation and connect with customers around the world at little or no cost through social media.

Meanwhile, project management, accounting, and customer relationship management tools and applications have turn into more accessible and reasonably priced, saving your corporation time and money.

The development of distant work

The recent shift to distant work has leveled the playing field for entrepreneurs much more. With the right tools and resources, you’ll be able to run your corporation from anywhere, collaborating with team members and clients around the world. This setup reduces the overhead costs associated with maintaining a physical office, making it easier to get your corporation up and running and keep expenses low.

There are also online communities, networking groups, mentoring programs, and startup incubators that may also help and encourage business owners such as you. They offer advice, share tools, and provide a sense of community that may make the entrepreneurial journey less lonely.

Make your money work for you

Starting a business isn’t just about getting cash. It’s also about investing in yourself. Whether you’re learning recent skills, building your personal brand, or expanding your network, any investment you make in yourself will pay off in the long term.

Because your income isn’t limited to your salary or hourly wage, your earnings can grow based on the success of your corporation. Many entrepreneurs I’ve spoken to are earning significantly greater than they did in their previous jobs and have great prospects as their business grows.

Just like a mom entrepreneur He took who accomplished a comprehensive digital marketing course and is now building her own brand while taking good care of eight children at home. Meanwhile, Rain documents her journey and shares it on TikTok, creating a supportive online community.

These discussions and true success stories prove that entrepreneurship is now not just a dream. While it comes with financial risks, the ability to forge your personal path and the potential rewards often outweigh them.