10 Perfect Reasons to Start a Home Business
Everyone should consider starting a home business or second source of
income. This will help ensure a future, independent of circumstances beyond our control.
Why Everyone Should Start a Home Business
2. NO FRANCHISE FEES OR ROYALTIES
No fees and overhead is minimal. There is no need to rent office space or buy expensive equipment.
3. WORKING AT HOME
More free time available with your family. Eliminates commute and rush hour traffic. Live where you want to live because your business can move with you.
4. IMMEDIATE INCOME
You can start earning an income right away. There is even a greater opportunity to earn an above average income.
5. LIFETIME INCOME
You can build a successful income generating business that can last a lifetime. With most jobs, you are paid once for every hour that you work. With some home-based businesses you can build “residual” income for a lifetime.
6. NO EMPLOYEES
No employee related hassles or paperwork. You don’t have to work 80+ hours a week trying to manage your staff.
7. TAX BENEFITS
Legally you can save thousands of dollars with home-based business deductions.
8. NO CEILING ON INCOME
You are paid what you are worth. You decide how much you earn, by YOUR effort
9. LIVE AS YOU PLEASE
Have some freedom at last. You control your time and lifestyle. You could even move to ANY state you want. Most home businesses (especially network marketing) can be run anywhere.
10. AVAILABLE TO EVERYONE
No previous experience necessary. You can earn as you learn. There are no barriers because of age, gender, race, or education.
6 Things to Look For When You Are About to Start a Home Business
Many people are now choosing network marketing as their home business choice, mainly because of the low start-up costs and large money making potential. But with so many network marketing companies out there, what should one look for before starting any network marketing Home-Business?
1. Products and services that you can believe in.
2. Simple and achievable marketing plan.
3. Weekly Training.
4. Integrity of company.
5. No required inventory to carry,
6. Future residual income.
When Starting a Home Business Consider Residual Income
The best source of income is residual, which means getting paid multiple times for something you did last month or even last year. After the initial effort, you don’t have to earn it. Royalties, rentals, investments, and some forms of home-based businesses can supply unlimited amounts of residual income.
Not all sources of income are created equal. Most people’s source of income is linear, which means they are paid for one time for every hour they work AND you must be there to earn it. Even professionals like doctors and lawyers are earning a linear income. They are only paid for the hours they work.
See the difference between linear and residual income below.
1. Fixed income
2. Tied to a Job
3. Part-time or Full-Time
4. Someone else in control
1. Unlimited Income
3. Part-time or Full-time
4. Your are in charge
Building a strong residual income can last a lifetime. There are many ways to start a home business, but only a few provide the time to enjoy it. Make sure you do your homework before you start your next home-based business, ask a lot of questions. Then, if it feels right and the company meets the above list of requirements, put in the daily effort it takes to be successful. The rewards are great!
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Mike Thompson – The Home Business Entrepreneur
To Start a Home Business with Residual Income: Click Here
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