Executives Embark on Second Careers in Tough Economy

Executives Embark on Second Careers in Tough Economy

Highland Business Coach with The Entrepreneur's Source says current employment challenges provide opportunities for seasoned business people

Highland, Illinois (Grassroots Newswire)-- For many people, searching for the next career move in today's rocky economy can be likened to pulling teeth. As more and more companies are being forced to tighten their budgets and cut staff - as in the recent loss of positions in the financial services area - there are career choices for the seasoned executive that capitalize on their experienced mindset, which can be most rewarding: business ownership.

Despite the serious challenges in the current economy, however, Dr. Bruce McLaughlin, Business Coach with The Entrepreneur's Source in Highland, Illinois says there's a light at the end of the tunnel for many seasoned executives looking to make promising career changes.

"The unemployment rate has soared within the past several months. Yet there are opportunities that can be pursued in business ownership, particularly in the franchise sector," McLaughlin said. "Rewarding careers are available for business professionals with valuable experience; paths that can help them become successful in a new business venture."

With economic indicators projecting a down turn in the labor force and a trend toward leaner companies, the New Career Economy® is now a reality - where gone are the days when individuals work for one or two employers, receive lifetime benefits and retire boasting double-digit service time from one employer. The future, long-term security will be gained through individuals managing their own careers through self-employment and other alternative career options.

A recent CNN Money special report highlighted the fact that unemployment reached a 4-year high as "employers trimmed payrolls for the seventh month straight in July" and how the overall jobless rate in the country rose over 5 percent. But, this doesn't have to be a career stopper for business executives and professionals, according to McLaughlin, who said the small business ownership in franchising has especially proven to be a thriving outlet for downsized professionals or career changers to pursue.

The Entrepreneur's Source is a leading business coaching firm specializing in helping people discover the right business for their goals, needs and expectations and assist business owners to reach a new level of performance, McLaughlin said. The Highland office also provides executive coaching in areas including: opening a new business, communications and leadership, market and business planning, exiting a business, increasing profitability, expanding operations and exploring a new business. And with our new strategic partner, E-Myth Worldwide, using the business success systems we can help small business owners develop the strategic knowledge to start a business or take an existing business to the next level of success.

The Highland location uses a "discovery process" to help people explore business options and uncover possibilities that match their personal objectives and income goals. According to McLaughlin, 95 percent of the people who are helped by The Entrepreneur's Source become an owner of a business they would have never considered - or had discounted.

"For over twenty years now, I'm proud to say that The Entrepreneur's Source has been a reliable source for 'all things entrepreneurial' especially for business executives seeking a career change. The company has been the premier source for self-employment options, franchising information, education and training," McLaughlin said. "We can help those individuals - who have worked in the financial, marketing or other business field for the majority of their careers - easily and successfully move into the rewarding option of entrepreneurship."

About The Entrepreneur's Source

The Entrepreneur's Source (TES) is North America's leading career and business coaching company with more than 240 offices in the United States and Canada. With its unique E-Source Coach Advantage and partnership with E-Myth® Worldwide, TES offers a full range of services to individuals seeking alternate career options and to small-to-medium size companies looking to increase performance.

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