Fact or Fiction: Now is the Best Time Since the Industrial Revolution to Escape Corporate and Go Solo?Nov 08, 2023
FACT! Here are four compelling reasons to consider making the leap from corporate to solo work.
Disclaimer: If you’re content in your corporate role, feel free to skip this read.
The Top 4 Reasons to Go Solo:
1. The Shaky Ground of Big Corporations
Recent updates from the Forbes layoff tracker indicate over half a million job cuts, with a closer inspection revealing figures nearing one million. These numbers are expected to rise next year. The inefficiency that has long plagued large B2B corporations is now becoming evident. Layoffs are a mere band-aid on the underlying issues these giants face.
2. A Wealth of Income-Replacing Options
There are myriad ways to supplement, or even surpass, your corporate income – my latest count is at 14 and rising. The beauty lies in the fact that these opportunities capitalize on your existing experience and know-how. You don’t need to be the next tech giant founder to earn significantly and achieve a work-life balance.
3. The Rise of the Freelance and Fractional Workforce
For the first time, small and mid-sized companies are actively seeking freelance and fractional workers, making it possible to harness top-tier talent at an affordable rate. One business owner perfectly encapsulated this sentiment: “I'd prefer 50% of an A-player over 100% of a B-player.” Moreover, approximately 20% of consulting firm staff are contractors or freelancers – a clear nod to the growing trend.
4. Low Risk, Low Barrier Entry
If the previous points haven't swayed you, consider the low risk and minimal barriers to entry when going solo. If you discover the independent path isn't for you, the corporate world's doors remain open for your return to its relative security.
The solo journey isn't for everyone, but it remains a viable option for those willing to explore. With the right skills and experience – which you undoubtedly possess if you’ve had a successful corporate stint or someone's paying for your services – there’s a demand for your capabilities.
I’m eager to engage in conversation with anyone interested in discussing this path further.