As much as I hate to say it, your 9 – 5 isn’t secure. However, the other alternative of starting your own business isn’t for everyone, we all know that. There are a few skills you really should have if you want to be a successful entrepreneur. Go check out my blog post on the 4 must-have skills for success as an entrepreneur to find out more.
Unfortunately, the few that can but haven’t started their businesses are still on the misguided assumption their job is safer and more secure than starting their own business.
Your 9 – 5 is just one stream of income
The pandemic that is COVID is proof enough of how unsteady and secure a 9 – 5 job really is. This isn’t to say they don’t perform a function in your financial journey. However, it cannot be the only thing in your life performing that financial role. Having multiple streams of income is no longer a luxury, it is a necessity.
Over 813,000 jobs disappeared in March 2020. Just like that.
Sadly, these may just be numbers, but these are real people who have lost a job they once thought was secure.
So, if you are still on the fence about whether or not your 9 – 5 is secure because of the role you believe you have or the important function you believe you play in the company you work for, let me drop some real home truths that I hope will help you get more clear about where you really stand.
Again, this isn’t to say the 9-5 doesn’t play a role in your financial journey. I still work a 9 – 5 that I do a great job at. However, I recognize that my role within the company is not secure. Why? Well for 3 the reasons I am about to give below. So, what I do is use the money I earn from the 9 -5 to create multiple streams of income.
1. Your 9 – 5 job owes you nothing
You work with the idea that if you get to work on time, you do a great job, you meet your targets, you will be rewarded either via way of monetary increments or at least an elevation in your position at the company.
Bust sadly, all your employer really owes you is paying you a monthly salary, anything beyond this is just extra.
2. You are at the whims of the decision-makers at your job
The reality is that the decisions that your employers make have no relevance to you as a person. They don’t think about how it will affect your routines, your goals, your family life or even your commute to work. It’s all about what is important for the company as a whole.
Whilst some employers do have a moral code, don’t confuse this for loyalty to you. So, wouldn’t you rather be in the position where you are in control of those decisions? I mean you know yourself better than your employer ever would.
3. At your job, you perform a function that can be replaced
As an employee, you perform a function in the company that allows it to run smoothly. And just because you think you perform a vital function, it doesn’t mean you can’t be replaced. Yes, you are great at your job, yes you made the company money last quarter, yes you signed a big client last month. But the truth is this, you are doing all this for the company and not yourself.
If the company decides they can no longer afford you for the function you provide, they can replace you with something more manageable or cost-effective and they still get to keep that money you made or that big client you landed.
No one can truly predict the future, I mean, who knew how much of an impact COVID would have on such a global scale. However, one thing I do know for sure is that the way we will all be making money will change. Isn’t it time for you to start exploring what those changes could be so you don’t get left behind?
I do hope this post on the 3 reasons why your 9 – 5 job isn’t secure has been helpful.
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In the meantime, make sure to comment below and let me know what your biggest takeaway has been from this post. I look forward to reading your feedback and hopefully answering some of your questions.