Written by
Matt Frentheway

Time to Jump Ship? When to Leave Your Industry

The American economy is a landscape of constant change, where industries rise and fall like the tides. Technological advancements, shifts in consumer behavior, new policies, and even unforeseen events like pandemics can drastically alter the economic terrain. For those in sectors that seem to be dwindling or have been hit hard recently, the question looms large: Is it time for a change?

Having navigated my own career shift from over two decades in the automotive field to the world of franchising, I've faced these decisions head-on. Reflecting on my journey and conversations with peers who've charted similar courses, I've pinpointed key questions to help you determine whether it's time to explore new horizons.

Do I Still Find Joy in My Work?

Job satisfaction is crucial. If you're finding it hard to muster enthusiasm for your work or your industry, it might signal a need for change. A lack of interest not only affects your performance but can also take a toll on your mental and physical well-being. Consider whether you're still excited by your daily tasks and the challenges they bring. If the answer is no, it may be time to look elsewhere.

Have I Reached My Peak?

Feeling like there's no room left to grow can be frustrating. This stagnation can occur within your current role or the wider industry. If you've hit your personal or professional ceiling, it's worth considering if remaining in your current field is the best path forward. For those still eager to climb higher, a change of scenery might be the solution.

Is Innovation Alive in My Industry?

In a world driven by innovation, industries must evolve to survive. If your sector is lagging in innovation, this could be a red flag. Deteriorating financials, a shift in consumer preference to newer alternatives, or a prevailing perception of your industry as outdated are all indicators that it might be time to move on.

How Does Public Opinion or Policy Affect My Industry?

Shifts in public sentiment or government policy can have significant impacts. Industries not aligned with these changes, especially those facing environmental scrutiny or technological obsolescence, may face rough waters ahead. If you sense your industry is on the wrong side of these trends, consider this a critical factor in your decision-making process.

Does My Industry's Future Align With My Career Timeline?

The COVID-19 pandemic has underscored the importance of this question. Industries hit hardest may not recover on a timeline that matches your career goals, especially if you're nearing retirement or at a pivotal career stage. Assess whether your industry's trajectory aligns with your personal timeline.

Deciding to Leave

Concluding that it's time to leave your industry is a monumental step, but it's also the beginning of a new chapter. If you're pondering what's next, franchising offers a compelling path forward with its blend of independence and support. For those interested in exploring this avenue, I'm here to share insights and guide you through the possibilities.

Leaving an industry, especially one you've dedicated years to, is no small decision. However, by evaluating your personal satisfaction, growth prospects, the industry's innovation landscape, and how external factors like public opinion and policy shifts affect your sector, you can make an informed choice about your future.

Remember, it's not just about when to leave, but where you're headed next that counts.

Grab a 15-minute spot on my calendar, and let's talk about your next move.

Matt Frentheway

As a successful franchisee and entrepreneur, I can help you find the best opportunity to realize your dream of being a profitable franchise owner. Using my proven process as a franchise consultant, we’ll define your goals, narrow the field, and select the best franchisor for you to achieve financial freedom.