If you’re thinking of starting a home business, but are still not sure, here is some food for thought.

Certainly, you’ve heard the stories about job layoffs, salary reductions, increased workload for less pay, and things like that. Whether you love your job or can’t wait to get out of it, these things can happen. The employment market in 2014 and beyond isn’t the same as it once was.

Business has always been business, and companies have to make hard decisions about controlling costs and overhead. We live in an age now where more and more employers are cutting back and consolidating responsibilities that used to be handled by multiple employees. Lots of people are doing the work that was spread among 2-3 people just a few years ago. Not fun. If you are “on the fence” about starting a home business on the side and growing it, check this out below.

Ten Great Reasons for Starting a Home Business

1. Give Yourself HOPE – if you’re really not happy with what you’re doing at work, and don’t have a realistic chance to advance to a position you enjoy, then starting your own business gives you hope. Sure, you have to put in the work and most of that might be during times that you traditionally use for relaxation and entertainment. Look at it realistically though – is giving up a long commute, a boring routine, a dead end situation, or a depressing environment worth the sacrifice?

2. Build Your Own Wealth – how many extra hours have you put in, how many times have you worked your tail off to meet deadlines imposed by your job? Have you been paid in proportion to the amount of income your company makes from your efforts? Why not start getting paid more what you’re worth? This is the entrepreneurial spirit at work!

3. Capitalize on YOUR Unique Talents – starting a home business gives you the ability to use your unique talent and creativity to get things done. It gives you the chance to enjoy greater personal reward and satisfaction for your efforts. Many times, creativity and doing things “differently” is highly discouraged in traditional job environments. Celebrate YOUR unique assets and talents!

4. Enjoy a Favorable Risk to Reward Ratio – starting a small home based business is substantially less expensive (and risky) than going more traditional routes (like brick and mortar or franchises).

For a typical network marketing home business startup, for example, you’re talking less than $500 in most cases. With dedication and focus, $500 can be turned into a 4-5 figure recurring monthly residual income. Starting a home business on a shoestring like this is hard to beat.

5. Income Tax Advantages: while this is best discussed and handled with your personal tax professional, in general you can deduct many expenses related to running your home business. This can include dedicating a portion of your home as a “home office”.

6. Manage Your Own Time: starting a home business and building it successfully creates profits for you. This can lead to a substantial full or part-time income. Think about how nice it would be to wake up when you want, work when you want, and take time to do things YOU want to do WHEN you want to do them. In my book, this right here is a BIG reason to consider getting into your own business and working hard at it.

7. Less Stress: I can’t say that managing your own business isn’t stressful, because you are responsible for doing the right things to keep your income growing. However, contrast that with an environment where you have little freedom and have to ask permission to do anything outside the corporate “norm”. Building a profitable home business is hard work, to be sure, and you have to stick with it. If you do the right things, your income will grow steadily. This is better (and less stressful) than waiting around each year to see whether you get a raise or not.

8. Personal Growth: the challenges associated with starting a  home business and making it profitable definitely require you to grow. You will be learning and polishing your management skills, learning to work with people, and getting a solid education in marketing. I know that might sound daunting at first, if you haven’t had any business experience, but you can learn these skills over time. Starting a home business after hours, while maintaining your regular job and income, gives you the option to “get up to speed” and learn how to be a successful entrepreneur as your venture grows.

9. Increased Focus and Production: With your own business, you control your time and how you use it. There will be no boring, endless meetings. No dealing with office politics. No-one telling you when and how to do what you need to do. Does this sound good to you?

10. Pursue Your Dreams: Your profitable home business can free up your time and finances in such a way that you are free to pursue the things in life that really interest you. Do you have interests and passions that you don’t pursue now, because of lack of time and money? While money does not buy happiness, it does give you freedom to enjoy going after what the “inner you” really desires to do in life!

Starting a home business has these advantages, and more! If you’re still thinking about it, take action today. You won’t regret it!

Did you get some value from this post? If you did, I would really appreciate you sharing it with others! And, your comments are welcome below!

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