Every major corporation in the world has a CEO at the top, a couple VPs underneath them, a handful of mid-level managers following them, and hundreds (if not thousands) of employees “at the bottom”. Sound familiar? Yeah it’s called the hierarchy of a business. In the corporate world ‘moving-up’ in the hierarchy from let’s say employee to manager is called getting a promotion, which usually comes with a raise, maybe a new office, and a few more responsibilities. The problem with promotions are they don’t come around all too often, even if you have been an outstanding employee. No, as a matter of fact, Joe your boss who’s been there for 10 years (who is now currently on ‘auto-pilot’ in his career) will maintain his position until he moves up in the ranks and then “maybe you’ll be ready for that big promo (nudge, wink…smirk).”
The day has finally arrived! Your sales have been off-the-charts, your client-base is second to none, you’re on top of the world (and your attitude shows it!). Your boss calls you into his office (which by the way is up on 10th floor). You walk into his office with a picture of that new Ferrari in the back of your mind, or that trip to Acapulco that you’ve wanted for years. “Say Frank” says your boss, “you’ve been doing just an outstanding job, we haven’t seen these numbers in years…Unfortunately Frank, the head office says we have to make cut-backs this year with the economy the way it is, my hands are tied Frank…I’m going to have to let you go.” Talk about smashing your new Ferrari into a brick wall at 100 mph!
This has been the sad reality for too many hard-working men and women in America today, I mean after all “with the economy the way it is…” No matter how much job security you think you might have, it’s never a good idea to let someone else have complete control over your financial future. Instead, look for more then one revenue stream. Hey you could start your own business! After all we are in America where everyone has equal opportunity for free enterprise. You’re going to want to diversify your income, never put your eggs in one basket, and when it comes to finances make sure numero uno is first!