Fortune Magazine published an article years ago named, Permanent Vacation?
50 and Fired. I would like to expand on a few things regarding this topic. First, let’s
visit some of the quotes from the article, which was years ahead of its time:
“You’ve got hundreds of thousands of obsolete professionals who can’t find
employment in positions where they’ve been successful. These are people living
off retirement savings 15 years before they were supposed to retire. They don’t know
what they’re going to do.”
“Peter Capelli, a professor at the Wharton School, says the executive recruiters he
talks to don’t want older people who have tenured compensation – not when they
can hire younger, cheaper people. ‘It makes economic sense,’ he says ‘It’s just hard on
employees. They were hugely valuable yesterday, because they performed valuable skills.
And now they’re tossed on the general labor market where they’re suddenly not worth much.’”
“…there’s a good chance they’ll end up in a category you might call involuntary consultants.”
“’My heart really goes out to the 55-year-olds who can’t come to terms with what’s
happened to them,’ says Lynn Guillory. ‘They are still looking for the old implied
employment agreement: The company would take care of you; all you had to do was
work hard.” Forget the paycheck, he tells them. Your W-2 days are over. It’s a 1099
world now.’” (Fortune Magazine, Permanent Vacation? 50 and Fired, May 2, 2005)
IT’S A 1099 WORLD NOW!
The thought that the “W-2 days are over” can be a very frightening thought for many
professionals. I have talked to hundreds of CFOs over the decades and understand
the thought process and the fear that overcomes them regarding this topic.
In fact, I remember the conversation I had with my wife when I told her I was going
to start B2B CFO back in 1987. We had four small children under the age of eight
and my wife was a stay-at-home mother. After explaining what I was going to do she
looked off into the distance for a few seconds and then turned back to face me. I saw
the fear in her eyes. She asked me only one question, “Jerry, what about a steady
paycheck?”
Christine and I have not had a W-2 check since 1987 and we would not want the
pay-cut by accepting a W-2 job today.This 1099 concept may be foreign to some,
so let’s visit The Millionaire Next Door:
“Being self-employed gives one much more control over one’s economic future than
does working for others. Conversely, employees today, even high-income-producing
executives, have less control over their livelihoods than ever before. Downsizing, for
example, is taking its toll, even among the most productive employees. More often than
not, even high-income-producing employees are not likely to be millionaires.” (page 93).
INVOLUNTARY CONSULTANTS:
There are several problems with being forced into being an “involuntary consultant,”
such as:
(1) The lack of time to plan before starting the business.
(2) One’s heart may not be fully into the business. There is no transparency
with this topic. Astute business people will see the lack of “fire in the belly” and
will be cautious to hire such a consultant.
(3) The lack of training on the proper way to sell.
(4) Lack of knowledge about the industry, which is very specialized and
very competitive.
(5) Inadequate funding to do the branding and marketing correctly.
(6) Unknowingly creating exposure for future litigation against the involuntary consultant.
(7) Inability to distinguish oneself from the competition, hence, falling into the
trap of charging lower fees than one is worth.
(8) Etc.
So, it REALLY is a 1099 world now, but that gives opportunity and freedom to many of us.
With that aptly written explanation by Jerry Mills, allow me to add:
With Rodan + Fields, there's no such thing as the Involuntary Consultant! You are now
given the opportunity to become Independent Consultants! Rodan + Fields now offers
everything you could ever need or want to start your business with NONE of the above
8 problems listed by Jerry.
You essentially have a business in a box, minimal start up costs, clinically proven
products, 100%money back guarantee AND although you work for yourself, you're
NEVER by yourself.
Best of all, with a strong work ethic and a 3-5 year commitment, you can build a an
amazing RESIDUAL INCOME. The only other industries that allow you to earn current
income on past efforts are: Insurance Sales, Financial Advisors, Song Writers and
Authors and with those, a 6 figure monthly income is not all that likely!
So........Don't Wait! Write your prescription for change TODAY!!
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