Why Corporate Execs Are Embracing Entrepreneurship?

Hire Yourself Podcast with Pete Gilfillan

Pete Gilfillan explores the reasons why corporate professionals are leaving high-paying jobs to take control of their destinies through entrepreneurship. Drawing from personal experience and real-world examples, Pete breaks down the benefits and challenges of transitioning from the corporate world to business ownership.

In this episode, Pete discusses:

• Pursuing Passion and Purpose

Entrepreneurs gain the freedom to work on projects aligned with their personal values and passions, creating a greater sense of fulfillment.

• Flexibility and Autonomy

Owning a business allows for control over your schedule, making it possible to balance work with personal priorities while shaping the direction of your enterprise.

• Unlimited Earning Potential

Unlike corporate roles with salary caps, entrepreneurship offers the ability to determine your income by building and scaling your business.

Building a Legacy

• Business ownership creates opportunities to build generational wealth and leave a lasting impact, offering a sense of accomplishment and purpose.

Key Takeaways:

• Take Control of Your Future

Entrepreneurship enables you to break free from corporate constraints and create a life aligned with your goals.

• Invest in Personal Growth

Becoming a business owner provides opportunities to learn new skills, tackle diverse challenges, and continuously grow.

• Make a Difference in Your Community

Through business ownership, you can engage with your local community and contribute to its development in meaningful ways.

"Leaving the corporate world to start your own business is a risk, but the rewards—financial freedom, flexibility, and purpose—are well worth it." — Pete Gilfillan

CONNECT WITH PETE GILFILLAN:

LinkedIn: https://www.linkedin.com/in/petegilfillan/
Website: https://www.hireyourself.com/

CONNECT WITH HIRE YOURSELF PODCAST:

Website: https://www.hireyourself.com/podcast
Apple: https://podcasts.apple.com/us/podcast/the-hire-yourself-podcast/id1472038217
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Email: info@hireyourself.com

Transcript

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Welcome to the  Hire Yourself Podcast. Are you stuck in the corporate rat race, worrying about layoffs, and longing to take control of your destiny? This is the place for frustrated executives like you who want to escape the quan, live life on your own terms, and build wealth. Whether you're ready to make a full transition into franchise ownership or wanna start building a side business along your corporate job, Pete guides you every step of the way. He'll talk about how to create career and income security, diversify your assets and income, and live life on your own terms. Your path to controlling your own destiny starts now.
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Welcome to the Hire Yourself Podcast. My name is Pete Gilfillan. I'm an entrepreneur. I'm the best selling author of the book, “Hire Yourself”, and I'm a proud corporate escapee. I'm excited to be here with you today. And as we talk about this idea of the changing world, we're in a gig economy and you're seeing more and more people start businesses. And one of the ways in which you can start a business is leveraging a franchise. Now, you see a lot of stuff where people are getting frustrated. Corporate executives are just they can't take this corporate world anymore. And it's it's to the point where some of them are leaving the corporate world, wanting to take back control of their life or simply put, take control of their destiny, live life in their own terms, and they certainly want to build well. So they want to be in control. Now when we think about quitting a high paying corporate job, there's a lot of things you gotta consider. And I did this. I went from having a very high executive salary to leaving my corporate job to take back control of my life and had no income, and I started, and invested in a franchise business. And that was a big decision. So there's lots of things you gotta consider when you are looking at leaving the corporate world and flat out just starting a business or investing in a franchise. And there are, I think, multiple different reasons why people are just saying, I'm done. I'm done with the corporate world. I want to take back control of my life. So I thought we'd talk about that today. So one is that many times when we're a corporate executive, we were not able to pursue our passion, our our or have purpose. Right? We're we're certainly doing something for a corporation, but entrepreneurs like to, follow or pursue their passions and work on projects that align with their values, their goals. And if your job doesn't do that, then that may be a reason why you want to just leave the corporate world and invest in the business. Another is that some people just wanna have control. They wanna have autonomy. And we we learned a lot of this, during the pandemic, right? People got to have a little bit more control of where they lived and a little bit more control of their schedule because they were working from home. So entrepreneurs have the autonomy to make the decisions to shape the direction of the business. And this can be very empowering for them. Number 3, what I like to think about is is that is that when we work for a corporation, we are controlled by what we can make. In most cases, sometimes we have bonuses. But the idea is that there there is a ceiling on what you can make. When you're an entrepreneur, you can decide what you want to make and then go build it to make that income. Right? So there is unlimited earning potential when you're a business owner, and this has significant results or simply put, heck, if I'm working really hard, I'm the one getting rewarded for it, not somebody else. And so certainly the earning potential, there's a good reason or a reason why people consider leaving their high paying corporate job to invest in a franchise. Another area is is that, you know, there is this idea that I can leverage my creativity innovation. I can take something and I can look at it and I can make it better. And certainly, we do that as corporate executives, but we are in complete control. And if we wanna try a new technology or we wanna do something different in regards to the customer experience, we can do that and we can leverage our our, for lack of better terms, creativity. And I think about my buddy that had a salon suite franchise concept. And, you know, bottom line is, is that it wasn't part of the business model, but he saw that his customers, the people leasing his spaces, they had to take towels home every night, wash them and dry them, fold them and bring them back every day. So he used his creativity, went out, hired a towel masseuse, bought a bunch of towels so that somebody could come collect those towels every night, wash them, dry them, fold them and put them back in their suites. It was a very creative idea to solve a pain point. If you're part of a corporation, a lot of times you can't do that. And then certainly one of the reasons why I left the corporate world, walked away from my salary, all that kind of stuff is that that flexibility in regards to your schedule. So that if I wanted to go to my kids soccer game, I could, from that standpoint. Now that doesn't mean I'd work less. I might have to get up earlier in the morning, get my work done, do work after I got back from the soccer game. But the idea is you have a flexible schedule and that's so important. And as we get into the corporate jobs, you know, one of the other reasons why people is they want to continue to learn. I I work with many candidates that say, you know, Pete, I've been in the corporate world, but I want to learn about being an entrepreneur where you wear multiple different hats. You have multiple different challenges, from that standpoint. And you develop all kinds of different skills, whether it's marketing, it is accounting, from that standpoint. It is customer service. So you get the you get a great education, you continue to learn about, these different areas. And so it brings it all together when you are an entrepreneur. You know, one of the things that I like in reason why I left the corporate world is that you can build a legacy. So as I build something, if I'm in a corporation, I'm building something that's not a legacy for my family. But if I build a business of my own, it can be a legacy for my kids. Now that doesn't necessarily mean my kids are gonna go into the business, but they can if they choose to. But the idea is that I can leave them something after I'm gone. So they have something called generational wealth. Is a big part of business ownership, in my opinion. And then another reason why to leave the corporate world or why people are leaving the corporate world is you get the opportunity to network and create connections. You know, I like to call it being, paper local. Right? When you're a corporate executive and you're working in these these large companies, a lot of times it's hard to get connected in the community or be engaged in the community. Like sponsor the the the local girl scout troop or the softball team or whatever it may be. You can be engaged, connected community, join the chamber of commerce. So another reason. And then bottom line is is that we are in a changing world. And a lot of times, we don't see these corporations changing fast enough, and they're getting cooked in the squat. It's just it's absolutely amazing to me. And when you're a small business owner, you have the ability to change very quickly. Whether it's leveraging AI to with your marketing, whatever it may be, there are many ways in which you can be just a little bit more fluid, a little bit more adapting to change so you can pivot faster because it's a well, I guess it would be a smaller ship to turn, for lack of better terms. And then another reason people leave their high paying corporate jobs is they just want personal fulfillment. They want a sense of accomplishment, from building something from scratch to having a successful business where satisfies customers, they've got happy employees, they're engaged in the community. So as we talk about this idea of leaving a high paid corporate job to take control of your destiny, to live life in your own terms, to to build wealth, certainly, it is a risk. But it is sometimes a risk that is well worth it. If you are making more money, you have a more flexible schedule, you're building this legacy. You know, bottom line is it's very rewarding, but you have to think about it very carefully. And that's it for the Hire Yourself Podcast. Have an awesome day.
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Thanks for joining us on the Hire Yourself Podcast. Pete's here to help you break free from the corporate rat race, take control of your destiny, and finally live life on your own terms, whether that's jumping into franchise ownership full time or starting it as a side hustle. If this episode resonated with you, don't forget to subscribe, share it with a fellow frustrated executive, and leave a review to let us know your thoughts. Ready to start building your bridge to freedom? Visit hireyourself.com for resources, insights, and a clear path forward. Until next time, take charge, build your future, and live life on your own terms.