Financial Resource

I just wanted to write an article about home business in 2009. Statistics are showing that more people are looking at home business in this deep recession than ever before.

Many people have lost trust and faith in their traditional jobs, constantly living with the fear of layoffs. Home-based business for many has become a necessity, as well as a desire because of the dire state of our economy.

People are hedging their bets as well, by having a home business on the side, just in case they or their partner becomes another layoff statistic.

As a home business owner for the last 10 years, I see the true value of having a home business. I love the fact that I do not have a boss, in addition to the fact that I set my own hours, plan my own vacations, and take time off at my own discretion.

In addition, having your own home-based business has strong tax benefits, a chance to network with people all over the country, as well as the chance for true financial freedom.

Having a home business, however, is not without its’ realities and truths. Although there are tremendous benefits to having a home business, there are things you must be aware of before you start your journey.

1. You must do your due diligence before embarking on a home business. There are many scams out there, and these scams are all over the internet. Please do your research before making your decision. Check out the financial health of the company, the team you decide to join, as well as whether or not you see longevity in the business opportunity. 2. Home business does not mean easy riches overnight. If you are promised this, you are also being lied to. It takes time to build a home business and there are advertising costs involved. It can take many months.. at least for it to truly be a stable source of income for you and your family. 3. Having a home business does not mean sitting around in your pajamas all day eating bon bons and watching soap operas or spending most of your day, every day at the beach. You must discipline yourself and devote many hours per day to your home business. Your business will not run on its’ own. You need to be the master of your business, and work at it daily. 4. When you have a home business, you must be aware that your income may not be steady at first, and will fluctuate weekly. You must put money away for a rainy day when you have a home business so that you do not have to resort to credit cards and your savings to keep you afloat. This is a much different experience than having a salary, and it will take some getting used to. 5. When you have a home business you are in charge of sales, marketing, customer service, advertising, and more. You may want to hire others to help you with all of these aspects of your business, because doing it all alone can be a daunting task.

It is hoped that some of these realities were helpful to you. These truths are not meant to dissuade you  in any way, but were written to help you realize that having a home business takes work, patience, and discipline.

Having your own business can be the most exciting, lucrative, and fun opportunities of your life. Good luck in your journey to success!

Michelle Tukachinsky

Home Business Coach and Mentor

Tags: business, chance, customer, family, freedom, home, home business, income, spending, time, value, work