Trout spent more than 20 years working in sales, training, and business development, including senior roles at LG Electronics and BSH Home Appliance. He was at a crossroads in his career and felt defeated as he looked for new opportunities in the corporate world. Frustrated at the lack of options for someone in his age demographic that took advantage of his training and skill set, Trout decided to take matters into his own hands and pursue a new path.
Overqualified and Underemployed
Workplace age discrimination is a common complaint for many seasoned corporate workers. About three out of five older workers have seen or experienced age discrimination in the workplace, AARP reported. More than half of these older workers are forced out of longtime jobs, and as many as 90 percent never earn as much again. Facing layoffs and long job hunts forces many older Americans to dip into their retirement savings to pay the bills. As many as 29 percent of United States households headed by someone age 55 or older have no retirement savings or pension.
After nearly a year looking for a new role, Trout was contacted by Dwyane DuBose, a Career Ownership Coach™, with The Entrepreneur’s Source®. TES, the nation’s leading career coaching franchise, specializes in providing strategic, personalized coaching at no cost to help people discover a new path. DuBose helped Trout realize self-sufficiency and find financial freedom through a series of evaluations and conversations.
“TES has a great process that helps establish your goals. It encourages you to answer honestly and find out who you are. It was eye-opening,” Trout said.
DuBose started his own career as a Career Ownership Coach™ after spending many years as an accountant. Discontent at his accounting job and disagreements with coworkers led DuBose on his own journey to find his Career 2.0®. DuBose garnered the 2021 Coach of the Year award from his peers at the Southbury, Connecticut-based company’s annual conference in October. The Coach of the Year award is presented annually to the coach who best exemplifies the qualities and spirit of TES, fosters strong client-coach relationships, and gives back to the system and fellow coaches.
Franchise Owner Discovers Retirement Solution
Raising three daughters and paying for college tuition put a damper on Trout’s ability to prepare for retirement. By taking time to determine his Income, Lifestyle, Wealth and Equity goals, Trout discovered he needed to chart a new course to achieve the American dream.
Trout discovered he wanted to open a scalable business with unlimited earnings potential that would provide him with income after he retired. Both Trout and his wife enjoy traveling and wanted to make sure their new business could provide them with the lifestyle they needed to enjoy life after retirement.
“Damon [Trout] is an extremely dynamic, intelligent and driven executive,” DuBose said. “He had a great balance of people skills, executive presence, work ethic and a successful track record.”
After looking at numerous franchise opportunities. Trout decided Mosquito Shield met his goals. “Mosquito Shield is a seasonal business with a call center. It affords the opportunity for Damon to manage operations with a good manager while he works on the business, not in it. He can focus on marketing and sales strategies, customer service, client satisfaction and higher-level business activities,” DuBose said.
At the same time Trout made the decision to invest in entrepreneurship through franchising, he landed a full-time sales job at Zephyr Ventilation. Working full time and starting his franchise keeps Trout busy, but it also gives him the financial cushion he needs as his seasonal Mosquito Shield business ramps up. Trout’s wife Michelle is helping share some of the workload by handling the company’s advertising campaign. Michelle Trout is a top-level marketing executive for Brinker International, the parent company of Chili’s Bar & Grill and Maggiano’s Little Italy.
Full-Service Coach Provides New Business Tips
Trout’s coaching journey did not end when he signed on the dotted line with Mosquito Shield. DuBose gave Trout advice on how to start his company, MADMO Ventures Inc., and put him in touch with an accountant who could help streamline startup operations. DuBose also helped Trout manage expectations when it came to his new venture.
“He helped me set realistic expectations. You have to understand that when you start a new business, it’s not going to be an instant thing, and it probably won’t be profitable for the first two to three years,” Trout added.
Learn More About TES
If your corporate career has you feeling battered and bruised, take time to discover a new option for your future. Visit www.entrepreneursource.com to work with a Career Ownership Coach™ and check out our guide book, “Your Career 2.0®A Survival Guide for the Battered Career and Investor Syndrome®.”