Is There a Legitimate Home Business?
As an entrepreneur in this day, do you have any hope?! Statistically speaking, not much. With only 35% of new businesses surviving their first year, and 29% making it through three years, what are we to do?
If you have ever thought about going into business for yourself, you know of the reasons. *Set your own hours (more time for fun and family) *No cap on earnings *Work to make yourself rich rather than someone else *Do something you love *Control your own time and finances
Those dreams of a better life are enough to make millions of people a year venture into their own business. I myself have tried several. I was only marginally successful with most and ended up working far more hours than it was worth. Perhaps my efforts would have paid off if I had stuck it out a little longer. It’s always a gamble between putting more time and money in, or cutting your losses.
So, what are your best options? If you are a creative mind you can think of a niche in the market that hasnt been tapped, and find a place and the finances to succeed. If you dont have any original ideas or great amounts of money, a home business might be an option for you. Lets look at the statistics for home businesses in this country.
*The number of home businesses lasting over a three year period is about 70% -much better than other business ventures. * The average income earned by home business owners is $63,000 a year. Not bad considering the average household income in America is $47,0000. * 20% of home businesses, according to Money magazine, had a yearly gross income of $100,000-$500,000 * 89% of people with household incomes over $80,000 have a home office.
There are some refreshing statistics if you are considering a home business. Every 11 seconds, someone starts a home business. Approximately 9 million people will earn some type of income from home. The internet makes marketing outside of your “warm market” very doable. As for the economy, it has made home businesses seem more appealing as an extra source of income in times of little job security.
One fact you may not have considered is that by working at home and staying off the roads, home workers will reduce CO2 emissions by at least an estimated 18 million kg this year.
So, how does one go about finding a legitimate home business? Chances are, someone you know has already talked to you about one. The online information highway is full of them, but who can you trust? Here are a few guidelines:
* You must find a company whose products you believe in. * Although Im not against MLMs, direct selling of products with a decent commission appeals to me. * Find out if there are any third party endorsements of the company. Dont just take someones work for it. * Consider the start up costs as compared to how long it will take you to earn a significant income. Some companies offer very low start up costs but you have to work for months or even years before it starts to really generate income. * Investigate hidden costs (advertising, monthly dues, having to buy a certain amount of product yourself) * How much time are you REALLY going to have to put in to make your income goal? Ask some new people, not the seasoned 6 figure earners who are hiring their dirty work out. * Be leery of companies that want you to talk to your family and friends about your new business to generate potential customers. This almost never works. People today are bombarded with new opportunities, and its hard for most people to talk to others they know without coming across as a user.
All of that being said, there are many legitimate home business opportunities out there, and if youre looking, you will be led to one that suits you. It is the wave of the future. A great home business can solve so many problems caused by time and money restraints. So, dont be afraid to risk a little and really work at first to have the life you really want in a couple of years. Just do your due diligence before you jump in head first! From one entrepreneur to another I truly wish you the best!
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