Home
Based Business - Why Starting Part-Time Is The Smart Way To
Success.
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Copyright © Kanaga Siva
With the development of various technologies and with low start up
costs it has become much easier today for Entrepreneurs to start a Home
Based Business. It is estimated that in USA alone there are over 40
million Home Based Businesses. Home Based Businesses represent 63% of
all Small Businesses. Furthermore over 75% of these businesses are
operated on a part-time basis.
Some
of the reasons generally attributed for starting a Home Based Business
are; the fulfillment of a dream, the necessity for an additional income
or to have a back up income in the event of losing the present secure
job. A reason that is more universal is that most people love to own
and run a Home Based Business and would like to experience the thrill
and excitement of operating a business from home either full-time or
part-time. The majority of those who come under the last category are
often under the misconception that it needs very little effort to
operate a business from home.
If you have an idea of
starting a
Home Based Business it is advisable that you should start by running it
on a part-time basis while continuing to work on your full-time job.
There are several very compelling reasons for adopting this part-time
business strategy. I shall enumerate the most important ones below.
1.
In spite of your enthusiasm and determination to succeed in your Home
Based Business, your attempt could end up in failure for various
reasons. In such an event you could always fall back on your full-time
job. Talking about failure can be disconcerting to some but you have to
be prepared for any eventuality.
2. By starting as a
part-time
business, your investment both in finance and time will naturally be
small thus minimizing the risk involved.
3. While in
the process
of establishing your Home Based Business, you still have to settle your
monthly bills. It is the full-time job that can help you tide over this
situation especially during the early months of your part-time
business. If you start making profits early in your business then build
up a reserve fund to start your full-time home based business.
4.
The very thought of your having a regular full-time job with a steady
income will give you the confidence to take a reasonable amount of risk
in your part-time home based business. This will not be possible
otherwise.
5. The presence of a full-time job means
that you
will not be under excess pressure to perform in your pat-time business
for your survival. You can learn business skills, acquire business
knowledge and grow gradually at your own pace.
6. By
holding on
to your full-time job you can continue to enjoy the benefits of health
insurance, leave and other benefits till you establish yourself in your
part-time business.
7. In the event of sustaining
loses in your
business during the first year or two; these could be written off when
submitting your tax returns.
8. It is much easier to
obtain bank
loans, credit card facilities and other financial benefits for your
business while you are in employment. Why not take advantage of this
and grow your home based business while you are in employment.
9.
If your intention is to become a home based business entrepreneur one
day, then make use of your full-time job and lay the foundation for
your home based business by making the necessary contacts with people
who could be useful to your future business and could also end up as
customers. You should of course ensure that your actions do not come in
conflict with the Management policies of your employer.
10.
Quitting your full-time job one day and starting a full-time home based
business the following day could end up in chaos and disaster unless
you have very strong support from experienced entrepreneurs. On the
other hand if done gradually transition from full time job to full time
home based business becomes much easier.
Having
said the above, it has to be mentioned that there are ofcource certain
disadvantages in the method indicated.
Doing
a full-time job and running a part-time home based business can be
strenuous and you can experience burnout and consequently neglect
either you business, job or even both.
Excessive
indulgence in
your part-time business can eventually lead to under performing in your
full-time job, thereby creating problems with your Boss or Employer.
You
will have to sacrifice much of your precious family time for the sake
of your home based business.
Success
in your home based business or for that matter in any business does not
come easily. It requires hard work, sacrifice, dedication and
determination. Above all you have to be passionate about what you are
doing.
Many great businesses have grown from small
beginnings
including the Giant Amazon.com. Start sowing the seeds of your home
based business while you are in employment, watch it germinate, look
after it with tender care, be passionate about it and watch it bearing
the fruits of your labor. Enjoy the fruits of your labor and when the
time is ripe, quit your full time job. That?s it, keep growing and
establish yourself as a successful home based business entrepreneur.
This then is the Smart way to Success.
Copyright ©
2005 Kanaga Siva.
About the Author:
Kanaga Siva has a wealth of experience in Marketing and also running a
Home Based Business. Visit his internet marketing website Free Home Based
Business for Articles, Resources and Advice to start a Home
Based Business.
Source: www.isnare.com |
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