Real Home Business Information
The image of running a business from the comfort of your own home, wearing your pj’s and your bunny slippers are pretty sweet. Every year millions of dollars are spent on every fad home business you could ever imagine. There is even a business model out there for selling the business model to others so they can sell it to other people!
Some of the benefits of being a business owner, beyond complete freedom from the 'corporate rat race' include:
- · You set your own hours
- · You make all the rules
- · You choose what your company does and does not carry, advocate, buy or sell.
- · You have all the hiring and firing privileges (so long as you live in a right-to-work state.)
- · Depending on the type of business you run, people may fall over hand and foot to assist you, give you products or give discounts.
- · Wholesaler discounts!
- · Potential for profits which go all to you, after taxes and supply and all that.
Of course, as a business owner you will see an entirely different side of the economy. Even though consumers spend billions of dollars every year that does not mean people will spend money on things YOU provide. With that in mind, let’s look at some of the negative attributes of owning a business:
- · Unless you’re starting a business with some brand new, world shatteringly amazing invention or product, chances are it will take a long time for your business to boom.
- · The old saying goes, to make money you’ve got to spend money. Advertising, stock, employee wages, equipment (like a computer, for instance) and various other necessary office items are all going to cost you money. Some of this will happen even before you start your business!
- · If your business flops, you’ve lost money and valuable time, and your credit could be adversely affected.
- · Health risks – Stress and anxiety over your new business can cause other health problems and raise your risk of high blood pressure and heart attack.
- · Diminished home life – Your marriage, children, pets and even your recliner in front of the tv are all going to see less of you, especially during the beginning of your business venture. This is a situation that your family must be prepared for, and you too.
- · Taxes for businesses are difficult!
None of this should dissuade you from shooting for your dreams. If you want to start your own home business, go into it with research and prepared for the worst. Have all your financial ducks in a row, this means paying off your credit cards and all that.
Owning your own business can be rewarding, or taxing, depending on how badly you want it. For more information, see the links below.
SAHM Talks about frustration
A final word
It would be wrong to tell you that an online business is flawless, automatic or simple. Like any business, there are real and unavoidable risks involved, but choosing a business plan which fits your interests and goals, budget and time allotment is a great first step. As a business owner, working from home provides you both benefits and prospective troubles, so prepare yourself accordingly.