By Tim Parmeter on May 17, 2018
The desire of many starting out in the corporate world is to climb, climb, climb, the ladder of success. Here's what that means:
The reward? A promotion. A new title, more responsibilities and more money. Congratulations. So now what?
- putting in hours of hard work to master your role
- taking on additional tasks to show you are capable of even more
- and making all the right internal connections.
More of the same, and by this, we mean more – more work to master your new role. Every step up the corporate ladder also comes with more time at work, more time away from home, and more extra work to simply stay afloat, let alone be considered for more advancement. To continue having success is hard enough but to outshine all the internal, and external, competition for the next promotion is brutal. Fortunately, you are a rock star and rock stars shine the brightest when the lights come on. Eventually the next promotion comes. Even more responsibilities, a cooler title, and of course more money. For many, this cycle continues as they continue to climb the corporate ladder to the Director level, VP, or even C-suite.
The Downside to Climbing the Corporate Ladder
But, a funny thing happens along the way. You are no longer the young, rising star. Instead, you are now talking about the young, rising star. And guess what, that rising star is coming for YOUR job. Since there is very little room to climb once you get to this level, things can get tense. That big fat salary, stock options, and benefits package can suddenly become a burden to the company’s bottom line. A bottom line you helped grow by the way. So now the time and effort are not about climbing the ladder, it is about hanging on for dear life. Until…the CEO calls you in to his office for a meeting. When you walk into their office you see someone from HR sitting there with a somber look on their face. The climb up the corporate ladder has now officially ended.
Falling Back Down the Corporate Ladder. What Does This Mean for You?
The search for executive level positions is difficult, time consuming, and frustrating. The longer the search, the more likely one may settle for something perhaps not quite at the same level. The former CEO settles for a VP role. But, after a few years the position is not a good “fit”, so the search begins again. Now however, the search begins with a few more wrinkles and grey hairs and it begins with you as the former VP…not the former CEO. At this point, the best result will be a lateral move to VP but the more likely result is another step back down the ladder to a Director role. All those years of hard work, all the extra hours, all the additional responsibilities, all the awards and accolades are a thing of the past as you cling to whatever rung of the ladder a company will let you stand on. The frustrations, the feelings of rejection, the lack of control, and the fear for what lies ahead is all too real for those on the downward side of the corporate ladder.
Alternative Career Options: Owning a Franchise
This is when many professionals begin to explore alternative career options. The main alternative considered by many is that of franchise ownership. When the corporate world begins to turn its back on executives, franchisors open their arms to them. Franchisors welcome these talented individuals and recognize them for all the experience, skills, and talents they bring to the table as potential owners. Franchisors also see the hunger and drive to prove people wrong - much the same way the corporate world viewed them as they began their ascent up the ladder. When matched with the right franchise, these talented professionals who have been downsized, reduced, or forgotten in the corporate world can regain the control over their career, and life, through franchise ownership. In essence, this career course correction allows professionals to complete the journey they originally set out on…to reach the top of the ladder. After all, doesn’t “Owner” sound like a much better title than the ones previously held?
FranCoach Can Help Get You Started on the Path to Franchise Ownership
When you are ready to determine if now is the time for your course correction, then the franchise professionals at FranCoach can help. We're in business of working with talented professionals interested in franchise ownership. FranCoach helps clients determine what their ideal business would look like and then connect them with the franchise that is the best match. There is never any fee to work with FranCoach so reach out today to set up your initial consultation. The call could be your way to finally reach the top of the ladder.