Sunday, May 19, 2013

Reasons Why You Should Start A Home Based Business.

Starting your own home based business is a decision which requires serious consideration because of it’s long term consequences on your life and the lives of you immediate family members.  Those considering starting their own home bases business should be aware of the  consequences this decision will have on their financial and personal life.

There are many advantages of starting your own home based business. One of the main reason why people become entrepreneurs is  the potential of financial freedom.  However hardly can anyone see financial benefits of their business venture from the very beginning.  It will usually take few months before anyone can see money earned from the business. The first months you will probably not make enough money to cover the living expenses.  The nature of business that in the beginning it requires the  most work while not showing significant profit, if any. When the business finally takes off it will require less work than in the beginning but will bring in more profit. It’s different than the usual 9 to 5 paid job where you are paid by the hour and receive your regular paychecks. When you are starting your home based business you can either chose to work part time in the beginning or save enough money that will be sufficient for six months to a year  to cover your expenses before your  business takes off and quit your job.  If you choose to work part time on growing your business you will keep your paid job and preserve the financial security. Since you will be working two jobs it will take more time for your business to take off. If you choose to save enough money for  expenses before you quit your day job, you will have more time dedicate on growing your business. Your business will grow faster but you will have to quit your paid job.  If you decide to quit day job to work full time on your home based business you will also save money and time on commuting to work.

Personal reasons are the  second thing that is most important motive for some people to start home based business.  When people are working a regular job they don’t get to spend much time with their family. Apart from their working hours away from their home and their family, most people spend about 1 or 2 hours every day commuting to their workplace and back.  This is something they want to change when they start their business venture. When working at home there certainly are some disadvantages like losing a room in your home which now you use for office, less social contacts when compared to regular job, and frequent distractions from your family members, but also friends and relatives coming to visit, but in the end you will get used to working at home.

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