Episode Transcript
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Giuseppe Grammatico (00:00):
the reality
is that there are, you know,
(00:02):
lots of companies downsizing.
Not all companies right, but,and you may not know if your
industry and or the company youwork for will be affected next.
And this is equally asimportant.
Now, this may not flow down tothe, uh, flow into the resume,
uh, but it's an analysis for youand really figuring out, okay,
(00:22):
if I were to downsize, getdownsize and, and lose my job is
there gonna be another role?
Uh, within the organization, um,or same industry, different
company, or maybe I wanna branchout into owning my own business.
in the event.
I were to lose my job for Xamount of time.
Do we have income set aside?
(00:43):
Do we have that cushion andsavings?
If I were to explore owning abusiness, do we have money to
invest in that business?
Welcome to the Franchise FreedomPodcast, where you can escape
the corporate trap throughfranchise ownership.
Here's your host, Giuseppe gr,the franchise guide.
(01:05):
Welcome to
the Franchise Freedom Podcast.
I'm your host, Jose EpiGrammatical, your franchise
guide, the show where we helpcorporate executives experience
time and financial freedom.
Thanks for joining us today.
Uh, today we're gonna mix thingsup a little bit.
We're gonna do a two partseries.
Uh, on a topic that has beencoming up, uh, over and over
again, it's in the news, it's inthe conversations we're having
daily, and that's around, uh,preparing for job loss or
(01:29):
potential job loss.
And, uh, that's something thatis very important.
It's, it's relevant, uh, muchmore than, than it has, uh, been
in the past.
And it's something that, um, Iwanted to talk about because I
literally have theseconversations.
Uh, on a daily basis.
So, uh, for any new listeners,thanks for joining us today.
(01:50):
Uh, we help, uh, people, uh, incareer transition, uh, prepare
for a job loss coming out of themilitary, you know, kind of
figuring out what's next.
Uh, this is an educationplatform where we help educate
and empower individuals andfiguring out what their next
options are.
Uh, in their careers, whetherthat be a business, a, a
franchise business, uh, or acombination of a W2 with a
(02:14):
semi-absentee, uh, franchise orbusiness.
So, thanks again for, foreveryone listening, uh, really
appreciate your feedback.
So, you know, on today's topic,we're gonna do a two part
series.
So this is gonna be part oneand, uh, so we'll, we'll, we'll
dive right in today.
So, you know, the reality isthat there are, you know, lots
of companies downsizing.
(02:35):
Not all companies right, but,and you may not know if your
industry and or the company youwork for will be affected next.
Uh, just had some conversationsover the weekends with, with,
with people that I know reallywell, uh, that we're affected by
this.
So with that being said, youknow, we can control.
How we react to this, right?
(02:56):
We can't control if a, acompany's going to downsize or
not, or, or the industry changesand things like that.
But what we can't control is howwe prepare and how we react to
this.
So, should not be a surprise toanyone, uh, with things changing
so much with AI and affectingcertain roles and positions.
So the way I, the way I wannareally empower and, and have you
(03:19):
kind of look at it, is that.
At any point in time that thatrole can either be eliminated,
uh, the business maybe goesoutta business, whatever the
case may be.
So how do we, how do we preparein the event something that
happens?
So number one, we accept that itcan happen, um, and that it
should not be a surprise.
Secondly, and you know, theseare things that should be done
(03:41):
now, not tomorrow, not nextweek, but now.
In, in preparing, you know, notknowing kind of what to expect.
So, uh, some things I alwaysrecommend, or number one, is
getting your resume up to date.
Uh, you may have been with youremployer 5, 10, 15 years and
have not updated it since.
This is a great time to.
Take it out, update it puteverything on there, your, um,
(04:04):
job experiences why you're agreat fit for a candidate, you
know, for, for that jobposition.
And, and that's gonna flowthrough to eventually to a cover
letter.
Any associations and volunteerwork and things like that
because odds are you have a lotmore that you can, um, add on
there.
And as well as, you know, havesomeone.
Review that, whether that be acareer counselor, you know, I
(04:26):
would start with just a friendor family member in doing that
review.
Maybe it's your coworker, maybeyou're helping one another out,
but adding those, uh, in, in, inplace and, you know, I'm sorry,
updating the resume and addingeverything that's, uh, relevant.
Uh, for that next role.
So that's a good point.
And, and part two is your owninternal resume.
And I call this more of a, aself analysis, more of a
(04:47):
self-audit, maybe, maybe is abetter term for that.
And that's really something justfor you.
And this could be on a Word doc,or even better yet, a Google Doc
that you can share and haveother people edit.
But just writing down just anana, you know, kind of an
overview analysis of what youlike, what you don't like, what
you're good at, what are yourstrengths, what are your
weaknesses, you know,opportunity, opportunities, and
(05:09):
threats, your SWAT analysis.
So writing all that down,experiences, uh, things you
liked about the last, uh, yourcurrent job or last job and the
things you did not like.
Again, this is gonna beinternal, but this is gonna be a
little bit more of a.
Kind of self-reflection offiguring out, you know, what are
the things you enjoy doing andwhat are the things that you are
(05:29):
good at, as well as the thingsyou maybe don't enjoy doing and,
and are not good at.
And this is equally asimportant.
Now, this may not flow down tothe, uh, flow into the resume,
uh, but it's an analysis for youand really figuring out, okay,
if I were to downsize, getdownsize and, and lose my job is
there gonna be another role?
Uh, within the organization, um,or same industry, different
(05:53):
company, or maybe I wanna branchout into owning my own business.
Uh, so all equally as important,again, we're not, we're not
making decisions at this point,but we're getting ready.
And again, this is the partwhere we can control attitude.
We can control our time and whatwe're putting in the, in our, in
our efforts.
So, uh, you know, the resume isfollowed by the self-analysis,
(06:15):
the self-audit.
You know, kind of doing that is,is super helpful.
And I think that will make, um,you know, a, a, a lot of sense
as you're going through, becausethen you may have a coworker, a
family member that, that maysay, you know what?
You, you have a.
Great ability to network andyou're great with people and
maybe you just, I don't know,maybe, maybe weren't aware of
that.
So it, it's good to have thosepeople do a review and you know,
(06:38):
another part of that can also bea financial audit.
Maybe that's a second, secondpage there.
And getting your finances inorder and saying, okay, in the
event.
I were to lose my job for Xamount of time.
Do we have income set aside?
Do we have that cushion andsavings?
If I were to explore owning abusiness, do we have money to
invest in that business?
(07:00):
Is that something that we wannaexplore sooner than later?
As you are currently, this isfor someone that's currently
employed, so really gettingeverything down on paper so
that.
If you don't have theinformation, go get the
information.
If you don't know the balancesin your investment portfolios or
in your company's 401kretirement kids, 5 29 plans.
(07:22):
Now is the time I up, I like toupdate my information monthly
via a Google, I'm sorry, aGoogle sheet that I, that I can
share with my financial advisor.
Uh, since that, that's reallythe whole picture has the value
of home.
It ha deducts mortgage.
I have liquidity, net worthassets, liabilities, everything
listed on one document that Ican share.
(07:42):
As my financial advisor willdeal more with the investments,
but not necessarily with the,with the home values and things
like that.
So this is also a great way toget up to speed, to look at
options, to say, if I were totake a job that paid less, would
that work?
Will we be able to pay ourexpenses?
Or if I want to invest in abusiness, well there's, there's
gonna be some capital, right?
There's gonna be some skin inthe game.
(08:03):
Uh, do we have the financial.
And the updated numbers in orderto do that.
Running your credit score, youknow, are, you know, if I were
to get a loan, well, you gottahave credit, so you wanna take a
look, your score, and it maybeyears since you have checked
that, you may realize that thescore is a little bit lower than
expected.
Now's the time to fix it.
What, what went wrong?
If there was a discrepancy onthe credit report, taking care
(08:24):
of that.
And then moving on and, andgetting, uh, everything fixed
because that may take, um, I wasworking with someone a few years
ago, took a few months to getthe credit scores back up to
where they needed to be.
So, um.
And sometimes there aremistakes.
Again, same, same exact thing.
It takes the credit creditreporting companies, uh, time to
get up, uh, you know, geteverything up updated and, uh,
accurate numbers.
(08:45):
And then, and then finally, youknow, presence online.
There's so many different socialmedia platforms, but it's a
great idea to get your LinkedIn,you know, that that's one of
the, you know, nice B2Bplatform.
Great for networking, updated,uh, with all your, um.
You know, most updated, relevantinformation, employer skillsets.
(09:06):
You know, maybe you startengaging a little bit.
Start, um, commenting oncolleagues or companies you're
looking at or potentialemployers.
Again, just comments, not justsaying, I, I'm looking for a job
today.
But just, uh, commenting andjust staying relevant.
Uh, staying in front of people Ithink would not, is not a bad
idea.
(09:26):
That way you're proactive.
Uh, in the event you lose yourjob, you're not scrambling to
update the resume, the coverletter, uh, get the financials
updated and, uh, you know,start, then create Maybe in some
cases, maybe not even have aLinkedIn account, but I think
this is a great time to be, uh,proactive and kind of figure
out.
Okay.
Let me get everything out there.
Let me get everything updated.
(09:47):
So in the event I have thatnetwork and I have the LinkedIn
account.
I can start networkingimmediately and just being ready
for kind of what's to come.
So I'm gonna dive a little bitdeeper into.
Part two o of, of the podcast.
But, uh, wanted to just kind ofdive in and break these up
because they're gonna be twoseparate parts.
Uh, one is more preparation, andthen, uh, part two are gonna be
(10:10):
really the, uh, the next step.
So, uh, I hope you enjoyed thisepisode.
Um, this was a little bitbriefer than than episodes we've
done in the past, but.
Again, I want to keep thisrelevant.
I wanna keep it simple andstraight to the point.
Sure, there could be a lot morethings we can add in there, but
these are the, these are theblocks, these are the pillars
that you can work on.
And, uh, you know, when's thetime to start immediately?
(10:33):
Uh, we don't know what thisfuture will bring.
And by doing this, you may findout, you know what, maybe I just
wanna own a business outright.
Uh, my job is not at stake.
And I, but I, I, I'm not, I'mnot content.
I'm not happy.
Uh, and where I'm at.
So I, I wanna leave sooner thanlater.
So this will give you a lot moreleverage in helping you make
(10:53):
that decision.
Obviously, you know, there,there are a lot of other things,
but you wanna let, let everyoneknow in the household that, that
you are potentially exploringother opportunities, uh, or
there's a potential for job lossso that there's no surprises.
Kind of prepping everyone,letting everyone know.
You'll be, you'll be shockedsometimes just having
(11:13):
conversations at the dinnertable.
Maybe it's, even the kids, ifthey're old enough, may have
some great insights and someideas.
So, uh, you know, definitely,definitely put it out there.
And, uh, you know, I, I don'twant anyone to, to panic and
just, I want everyone to be asprepared as possible.
So if you like to dive in a, a,a lot deeper, listen to part two
or, uh, give us a, give us ashout.
(11:35):
Send us a comment.
Uh, book a call gigi thefranchise guide.com.
Uh, you can book a call, a 20minute, uh, introductory call.
We can figure out together, uh,where you're at if a franchise
is a good fit, and, uh, kind ofthe next steps of, of what that
process looks like.
I encourage you, there's no costfor our service.
There's no contracts.
And this is an education plaplatform who we serve anyone in
(11:56):
the US and Canada that isexploring a, a franchise and
business ownership.
Corporate executives, currentbusiness owners, uh, military
veterans, and everyone else.
Uh, you know, if you're thinkingof owning a franchise, maybe you
own a, a, a handful offranchisees right now and, and
are looking kind of for what thenext fit is.
Give us a shout, Gigi, thefranchise guy.com.
(12:17):
You can book that call.
You can send us a message, uh,and, uh, looking forward to
chatting soon.
So, we'll see you next week forwith, uh, with part two and, uh,
looking forward to yourcomments.
Take care.
Thanks for tuning in if you wantto learn how to make the
transition from corporate toowning your franchise.
Join Giuseppe on the nextepisode.
You can also follow on allsocial media platforms and
(12:39):
achieve financial and timefreedom today.