You may have your own reasons why you want to start a home business. But did you know that it is sometimes good to read other people’s reasons because it can give you the affirmations that you need?
In this blog post, I am going to share with you some popular reasons people have in starting their own businesses. Among them I’m sure you’ll find a number that apply directly to you. Some may even expand on your own thoughts about getting started.
1. Build An Income Stream Free of Bosses
When you’re on a payroll, you always have a boss that’s in charge of your life most of the day. What’s more, your income is largely influenced by the performance of others in your company. You are not independent, and neither is your income.
In your own home based business, your income depends on your efforts. Compared with working in an organization wherein the bosses can cut down salaries and benefits in tough times, with your own home business, you can work longer hours to overcome decline in sales. When you work for someone else, you may be rewarded in tough times by being laid off or downsized.
With your own home business, your earnings come to you first. There are no deductions like withholding tax, medical and dental benefits. You receive all the money due you.
2. Freedom From Layoff Threats
When you’re working for someone else, you are at the mercy of that employer. You can be fired in an instant. And no matter how many years you’ve put in your work, you can be called anytime and be told to pack your things and leave the company.
Or, your employer can suggest that you take an early retirement at sharply reduced pension payment. Although it sounds like the company has given you a big break, the reality is, you’ve been fired.
It’s happening around the world.
In your own home business, you’re the boss! You do the hiring and firing. With you being your own boss, and knowing what a horror it is to be laid off, you’ll never do that to yourself. You’ll keep yourself on the payroll for as long as you want.
3. Make More Money Than A Routine Job
While there are employees bragging about their big salaries, the truth is, no job ever pays you what you’re really worth.
Companies get rich using your skills, your knowledge and your enthusiasm. They make profit out of it, but you’re paid only a pittance for what you give to the company and its success.
Why sell yourself short for employers who just pay peanuts when you can grow rich in your own home business?
What’s happening usually is this:
Workers work hard enough not to get fired, and employers pay just enough so that workers won’t quit.
Make more money with a home business than working a routine job.
4. Have More Time For Yourself
Most workers are obsessed with weekends. Do you know the reason why?
Freedom from a ruthless boss and free time away from the job is what they look forward to. To them, work is boring, and it’s just a necessity to pay the bills.
When you start your own home business, you can have unlimited weekends once your business is up and running. You can have more time for yourself and your loved ones. What’s more, you can work with your spouse, bringing the two of you closer together.
And once your business is solidly established, you can hire workers who will work with you either part-time or full time. Or, outsource tasks to others, like for example, with my blogging business, I outsource of my content writing.
5. Build A Solid Retirement Income
Did you know that in your own business, you can put money away for retirement, tax-free?
Your business gets a legitimate deduction for money it puts away for your retirement. And the money you put away is not taxed until you start taking it as a pension.
But please refer to your local laws with regard to this.
Now, to set up the pension plan for your home business, you need the advice of a qualified accountant. That person can also help you set up books for your business, do your tax returns, and help you in many other ways.
So, if the idea of retirement interests you, think of starting a home business!
6. Take Vacations When And Where You Want
When you work for a company, chances are your vacation options are limited by the amount of time you can take off. Furthermore, you will find that your co-workers and even your boss are envious if you take an exotic vacation.
In your own home business, you are free as a bird!
You have the freedom to take a summer vacation on a yacht. And then on winter, you can take a tropical vacation to get away from the cold weather for a while.
And the best of all, with a home business, you can combine your vacation with business travel. In this way, you’ll save money on travel expenses, as you can include your vacation expenses in your business expenses.
But I’d advise you to please consult your accountant with regard to this matter. They know the rules covering the tax aspects of business travel.
7. Have A Raise Without Having To Plead
“Write your own paycheck”, that’s what we call our money-making in a home based business.
I remember, when I was working for a corporation, I’d usually complain that I am not receiving the kind of salary that’s due for my hard work. And I hate it to plead to my boss asking for a raise.
Today, in my own home based business, my income can be increased by my own efforts. In my job before, the only way I can raise my income is by working overtime. And there were times that my boss prohibited us for working overtime!
If you want income flexibility, start your own home business. You’ll be able to raise your income whenever you want.
8. Meet New People (If You Want To)
Most of us want to meet people with the same interests as ours. When you start your own home business, you open a whole new social world for you and your family.
If you are a sociable person and you are interested in meeting new people, then the type of home business that you should open can be a “people business”. I said this because, there are home businesses that are for loners.
In your own home business, you’ll discover that many of your customers can become friends, and if you seek more friendships. This is good for developing your social life.
So, if you like meeting new people, get into a home business that brings you into contact with your customers. Nothing beats this lifestyle of “making money while making friends”.
9. Work in Privacy if You Are A Loner
While the previous benefit deals more with a “people business”, some people dislike meeting their customers.
If you dream of a quiet home office, with minimum noise and interruptions, then look for a quiet type of home business where you can be yourself alone.
For example, a dropshipping home business is one of the simplest and quietest business that I know. From the privacy of your home, you can operate a dropshipping website, without ever saying a word to anyone. You can even watch TV while working!
Learn more about yourself. Assess yourself whether you’re a people person or a loner. Don’t worry because, there’s nothing wrong being a loner. I’m one myself. Just be sure to pick a business that’s suited to you.
10. Get Started in Business Without Quitting Your Job
This is one of the reasons why workers prefer to start a home business. They can get started in business without having to quit a job.
Most of us have families to feed, bills to pay, and if you’re not ready to lose your paycheck, quitting your job to start your own business can spell disaster.
But with a home business, you can get started part-time and still keep your day-time job. Work in your business part-time, and continue doing this until the income from the business become large enough to support you and your family.
Then, you can quit your job and give 100 percent of your time and efforts to your home business.
11. Start A Profitable Business Without Risking Savings
When you start a traditional brick and mortar business wherein you rent a business space, you will need a big amount of money just for your overhead.
With your home business, you can get started for a smaller amount of money (usually under $1,000). Some even got started for zero cash, and yet succeed in building a highly profitable cash machine.
One lowest in cost is an online home business where you operate a website. Hosting of websites today have gone so low anyone can afford it.
12. It Is Easier To Start A Home Business!
It is easier to start a home business than any other business out there.
You don’t need a business degree or advance degree to get started. There are plenty of books or lessons that can guide you in starting your own business. On top of that, there are communities online that can assist you not only in getting started but also in building it profitably.
And don’t forget, I also offer free coaching. I am a certified online home business coach, I can hep you get started right. I’ve helped countless others, and I can help you too, if you want to.
These reasons why people start a home business may be your reasons too.
From breaking free from the chains of working for a boss, to building a profitable home business that can support your desired lifestyle, there you have all the tips.
Follow your passion and start your own home business. The most successful home business entrepreneurs are those who do what they enjoy doing. Don’t worry about not having enough knowledge or experience, what’s important is, you have the enthusiasm for doing what you love.
And you have a coach here!