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Why Starting a Home Based Business Makes Sense
By Alan Abend of Peilan Enterprises
A few years ago I realized that unless I win the lottery (those odds aren’t that great) or became a pro athlete or movie star (that’s not happening), I was not going to be able to meet all my personal and financial goals. Now, I am not talking about being extravagant, but realistic. I discovered that only 5% of people are really financially fit, meaning that when they retire their income stays the same or increases. Plus my personal goals can't totally be reached with the standard job (having to work really gets in the way!!!!). I also found out that 75% of those 5% are business owners. So, what to do to change all that?? I could open a traditional business such as a food establishment, clothes shop, or book store. I could go the franchising route and buy into a system. But all these require major startup money (some franchises require at least a million dollars in liquid assets), lots of time being at the place (hmm…this sounds like a job) and dealing with employees. I know that new restaurants usually do not see a profit until year 3 and 75% close, so that is not encouraging unless you have a large financial backer who can absorb the costs. Then your potential profit becomes even lower as they will get paid first. Starting a home based business is a possibility? Here the start-up costs are low, the commute is real short, there are no employees, and the tax laws are very favorable. In time when your income becomes sizeable, you can incorporate yourself and become an employee of your own company, which can further provide tax benefits. This strategy is not a tax loophole, but what is done with major corporations. So why can’t the little guy reap the same benefits? If you have read any of Robert Kiyosaki’s books, he suggests people start a network marketing home based business since they offer a proven business system, training, and support. Most of all, they offer a means for people to help people succeed to reach their personal and financial goals. Success and failure is simply doing what the person who did not succeed did not do. So why wouldn’t you try it? Let's discuss.
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The copyright for this content entitled "Why Starting a Home Based Business Makes Sense" has been specified by the contributor as:
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The copyright for this content has been relinquished by the author. The content may be used freely by anyone.
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