3 Reasons to Start a Home-Based Business Now
By Thomas R Holthus
Many people live their whole lives working as an employee for a company. And while the benefits can be nice, they are living at risk.
It seems like we hear about people being laid off from companies all the time. Not only that, people who reach a certain age may find it more difficult to complete in today’s fast-paced environment. Age discrimination is becoming more common. It can be difficult to complete against kids straight out of college who are tech savvy and willing to work for less money.
There are more reasons than ever to start a home-based business.
Here are 3 reasons to start a home-based business now:
1) You have an unlimited income potential
Most people who work for a company get paid a salary. They depend on getting an annual increase to earn more money. When you start a home-based business, you control your income.
You can choose how much you want to work. That can create a lot of flexibility. Some business models allow you to leverage other people’s efforts to build your business. That can be a real time-saver!
2) Flexibility
Do you enjoy your freedom? Would you like the flexibility to do what you want when you want? As a home-based business owner, you control your schedule. You determine when you want to work and for how long.
It’s nice to be your own boss. Join the ranks of home-based business owners worldwide and experience the revolution in the working world. It’s time to take control of your time and build something you can be proud of!
Not only that, when you tap into passion, you will release your creativity and that can lead to greater fulfillment in your life. It’s the best option!
3) Tax Advantages
I don’t know about you but I like to be able to earn a dollar and then be able to use the funds. Unfortunately, the government takes a share of whatever you make. And in times of economic challenge, it feels like the government is taking more than its fair share, doesn’t it?
Wouldn’t it be nice to keep more of what you make? When you start a business, you have the opportunity for tax deductions. Check with your accountant to learn exactly what you can deduct. The rules change from time to time.
Believe me, it’s nice to know that you can spend money on your business and that you will be able to take a tax deduction. It’s a very compelling reason to start a business. You might not have even thought about it, but your business expenses might actually improve the quality of your life.
Some business owners take business trips. And while they’re traveling on business, they take time to sight-see. What a great way to stretch your dollars. Other business owners deduct the expense of a mobile phone. It’s nice when you can deduct an expense that you would normally have anyway.
Always check with your accountant to determine exactly what you can deduct. And be sure to keep receipts.
If you do not have a business now, it’s time to think about starting one. Do your due diligence and research potential business opportunities.
Set a goal for your start date and start to narrow the options. Find a mentor who will guide you through the process. You don’t have to do it alone!
Thomas Holthus is a Business Mentor who teaches people on strategies to start and run a successful business. He has a background as a Senior Program/Project Manager and System Engineer with extensive experience proposing, winning and managing high technology programs. For a Free Video with tips on how to start your own business, visit http://yoursuccessandwealth.com/wealth/.
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3 comments
Very sound reasons for starting a home-based business. I have had a home-based business for many years, even while I was still working for Corporate America, and loved the fact that I was able to get some of my expenses written off because I had a business from home. It does take a lot of work to see results, but it is so worth it.
Good reasons, Thomas. I’d like to add a fourth, which is there are more opportunities. When you own your own business, you choose your boss–your customers. That is more opportunity. You work with who you like. You can say no to your boss if things don’t work out, part ways respectfully; and not have to go looking/begging for another job. You attract another customer. In a job you may not have the same ability to choose your boss, nor may feel good about performing in that environment.
Isn’t it fascinating that the more we seek opportunity, the less security we need? The more we seek security the less opportunity we have?
Great comment Doug. Thank you
Tom