Like many of our career counseling clients, Sarah suffered about leaving her job to start a new venture. One of the truths I’ve discovered about human nature through my 15 years of providing career counseling services is that most people will choose the security of low level misery to uncertainty.
In Sarah’s case, she had been commuting to New Haven, Connecticut over the dreaded Q bridge for over 20 years to a job that had made her increasingly depressed. I mention the commute because Sarah noted that the drive-in through rush hour traffic each morning had become increasingly intolerable as she contemplated the amount of life she was wasting driving each morning. The contrast with her new venture – where she would have a home office – would lead to 10 hours per week of additional time. “500 hours per year!” Sarah exclaimed.
Sarah’s current income was $48,000. Her new venture had an hourly component that nearly guaranteed $40/hr and about 800 hours. So, she was heading into a $32,000 income, not including all of her efforts that would lead to passive income from people affiliated with her, product based income, and additional hours if she desired. This did not even include the need to do odd jobs or anything else to generate money. And, it did not include the 500 hours that she could use to exercise, be with her kids, make more money or just relax.
On the analytical side:
I showed Sarah that her home office deductions would also minimize her taxes. In my career counseling work, I’m often a financial planner because money is usually the biggest practical impediment for Career Counseling Connecticut’s clients.
I then demonstrated that her transportation savings would also amount to around $4-6,000 between gas, parking, and maintenance.
All of these analytical issues helped Sarah. But when she came back a year later to tell me about her business (which ended up generating $64,000) she noted that what helped her most was Career Counseling Connecticut’s assistance through the uncertainty.