Are you a Budding Entrepreneur or a Nine to Fiver?
Learn Top 10 Advantages of a Home-Based Business
Business articles posted here on our Veterans Today Network are of some of the most widely read. This tells me that many of you readers are interested. And everyday, I get phone calls from Veterans looking for jobs, opportunities and/or looking to find a way to get into business. Over the last year, this has been virtually non-stop.
Thus it’s clear that as the economy stablizes and begins to grow forward, many Veterans are looking at new innovative ways to earn in a new global economy.
Some of you have decided to go and start their own brick and mortar businesses not waiting for that job offer to come. And some are looking at franchises but they can cost thousands if not hundreds of thousands to get into. And so, the now more accpeted way is to go into a home based business. After all, they have much less start up costs. In fact, this topic is the hottest online and so many are asking about it. So I will address the industry here.
First one really needs to know oneself before getting into business. A must! Why? Because you need to have corect disposition. I mean running one’s own business is NOT for everyone and for some, it’s down right a “no way” do not do it. Personally, I do NOT want you wasting your time and money on something that you have no business getting into, okay! (exuse the pun). Many people are truly better off working a 9-5 and would ONLY fall on their tails if they tried to run their own busniness exclusively.
The good news for these types is that for some home based busniness, keeping your 9-5 could work as you worked the home based business part time on weekends. But really, you really need to temper your expectations accordingly and be very real about what you can expect.
Okay, now for those who have that fire in the belly and want to go for it.
First, get as much info as possible when it comes to running your business especially from your home or in what is called the “home based business industry”. It’s mission critical.
Learn The Top 10 Reasons it Pays to Work Home:
- Personal Freedom. If you’re used to spending hours in traffic to and from work every day, some of the most exciting advantages to starting a home-based business are your newfound freedom and the retrieval of lost time. The average American spends 348 hours each year commuting, according to the U.S. Federal Highway Administration. Suddenly with a home-based business, you have those extra hours to regain control of your personal life. Plus, there are no bosses, no dress code, no set work schedule, and no office politics to maneuver. All you need is personal drive, discipline, and time-management skills.
- You get to keep the money you make. It’s a simple principle: the harder you work, the more money you can make. Your earning potential is directly proportional to your performance, so you don’t have to wait for a raise or a promotion. You work harder, and you produce more. You’ll also save money on gas and food. Preparing lunch at home is more cost efficient and offers a nice break in your workday.
- Increased opportunity. With so many corporations and industries in a slump, starting your own home-based enterprise means you can create your own income-producing opportunities. Good job prospects can be scarce in some industries, and promotional opportunities within major companies are also shrinking.
- Less risk. Running a business from home takes much less startup cash than a freestanding business, or even a franchise location. And once your business is up and running, it’s cheaper and easier to maintain than a separate business location.
- Tax advantages. There are a number of tax advantages to having your home and office under one roof that mere W-2 employees just don’t have access to. For example, you can deduct a part of your home’s operating and depreciation expenses on your home as business expenses. This can be a percentage of your mortgage, property taxes, insurance, utilities, and/or the expenses of household maintenance. Read Tax Advantages of Running your own Home Based Business.
- More time for friends and family. This is especially important for parents of school-age children: you can see the kids off to school and on most days be home when they return. Also, if someone is sick, it’s easier to leave your home’s desk than one in someone else’s office. For me, I work from home so I get to eat breakfast, lunch and dinner with my wife…which is a true blessing.
- Less stress. It’s a little less stressful to juggle the demands of work and family when you know you can stay home to care for a sick child and generally set your own schedule.
- Opportunities for professional growth. Being your own boss gives you the chance to wear a lot of hats: sales director, marketing professional, strategist, business development manager, and more. This gives you insight into and experience with all the aspects of running a business, which, in turn, makes you even more marketable.
- Increased productivity. Now that you no longer have to budget time and energy for commuting or a succession of useless meetings, you should have a lot more time and energy to make your business a success.
- A creative outlet. Launching your home-based can be an opportunity for you to give birth to your passions and hobbies and create a money-generating outlet for your unique and creative talents.
Okay, now you have some insight. Keep going….
The Danger Zone
Some of the dangers are losing focus and a lack of self-discipline meaning that without direction from another you can get sidetracked watching TV instead of Taking Care of Business (TCB). So be careful… and of course, the scams which I will cover at the end of this article.
What Kind of Business to Do?
Okay, you should know that many Veterans call and ask me “Hey John, what kind of Home based business should I go into?”. My answer is always the same. Find a product and/or service that you are truly exciited and passionate about because you will need that extra umph to get you over the coming challenges. If you were just doing it for the money and had no emotion attached, you will quit when that first rock in the road hits you and it will, I guarantee it.
Committment and Passion
When you have passion and drive to win behind you, that burst of good energy will kick in and pull you through. And that’s the difference between winning and losing. You won’t get tired or burned out when you hit that first wall. In fact, you’ll get mad and energized and re-affirm your committment to the mission. It will make you stronger! You must have this drive or I am tell you 100%, don’t bother doing it, Okay!
Sell Only What You Truly Believe In
Okay for me besides running the Veterans Today Network online here, I net market online from home several key products and services that I stand by and can without question share with my peeps.
For example, last year, through a friend I trust 1000% named Paul Hampton from the infamous California Ska Band, The Skeletones, I was introduced to a new health energy drink product called Revv NRG. He gave me a sample and I was hooked. So since I drink it everyday and it had a home based business model attached to it as it’s marketing strategy, I signed up.
Now I share it with everyone who asks and whom I think might like a good energy drink. Some of my peeps buy it direct from me for personal use and have no desire to be part of the business. That’s cool. But many really want to get involved in the net working to also build a busienss from from it. That’s cool too! Hey, whatever makes cents!
I mean, for me, I drink it daily usually right before I go to the gym to work out. I love the product and so I am passionate about it. It fits me. At 46, I really care about what I do and whom I associate with it. I only have time for good stuff. I am not into negative energy or scams or dealing with people that are into short term hit and run stuff. In a rough world filled with mega-pressue, you really gotta make that choice. It’s mega-important! Oh and and since it’s only a 1 product company with no start up costs with a simple to understand payment model, it’s was a no-brainer for me.
OK so do you get the mental process here?
You gotta get into something you love…..
A WORD ABOUT MLMS (Multi-Level Marketing)
If you’ve heard of network marketing (like Amway), then you know that there are legitimate MLM businesses based on agents selling products or services.
One big problem with MLMs, though, is when the pyramid and the ladder-climbing become more important than selling the actual product or service.
If the MLM business opportunity is all about finding new recruits rather than selling products or services, beware: The Federal Trade Commission may consider it to be a pyramid scheme… and not only can you lose all your money, but you can be charged with fraud, too!
We saw an interesting MLM scam recently: one MLM company advertised the product they were selling as FREE. The fine print, however, states that it is “free in the sense that you could be earning commissions and bonuses in excess of the cost of your monthly purchase of” the product. Does that sound like free to you?
Now for you? You may be into consumer products, healthcare, beauty stuff, etc…there are all kinds of products and services out there that you can work from home to market and sell.
Scams, Scum and Filth
Finally, a note about scams. You need to be very careful. There are a bunch of scammers out there. And they always come off as trusting. That’s wny they call them “con-men” meaning “confidence men”. They get your confidence and then burn you without conscience. There is never an easy way to identify them becasue they are slick but if it sounds too good to be true…..test it!
Some Test for Scammer Rules
First, Do NOT jump into a business on the first day someone tells you or your learn about it. Your enthusiam may cloud your judgement. So take time and do your homework. Tell the person who’s telling you about the business to allow you do check it out. If they put pressure on you, that’s a failure of the TEST FOR VALIDITY and will be a sign that they don’t want you to check them out. Okay!
Now, do a massive search on the net about the product and learn about it. If the product or service you are considering is scam, chances are it’s already been outed and all you need to do a net search and find out what others say. So use common sense.
Also check out the Top 10 Work At Home and Home Based Business Scams
Consult with Fellow Business People you Trust
Do you have friends in a successful business? Talk to them. Get some mentor advice.
Finally, you can always email me at [email protected] for advise or consultation. But I warn you, my fees are huge; that is unless you are a U.S. Veterans whereas my fees are pro-bono. In other words, just email me. It’s free advice, okay! It is always my honor to help bring light to success especially for those young people coming in from Iraq and Afghanistan. You folks have my utmost attention and respect.
Prosperty to all….
- Top 10 Work At Home and Home Based Business Scams
- Ten Tips on Creating a Virtual Office for Your Home-Based Business
- The Best Software for Your Home-Based Business
- Ten Tips for Setting Family Ground Rules for Your Home-Based Business
- Web Resources for Home-Based Businesses
- Ten Tips for Hiring Employees for Your Home-Based Business
- Top 10 Home-Based Businesses for Stay-at-Home Parents
- Ten Steps to Take Once You Outgrow Your Home Office