Starting a business became a strong desire of mine very early in my working life. As soon as I started my first 9-5 I had a strong sense of “this is not for me”. My greatest discomfort was the sudden and constant feeling of needing to ask permission to live my life: Waking up way before I wanted to, access to “lunch time” only within specific hours and only for a limited period (God forbid I need to do anything that would take me longer than an hour), requesting vacation time and then not necessarily getting it approved for your desired dates. Working over-time became the “adding insult to injury” moment for me. It baffled me that my increased investment of time which lead to the company’s increase in income did not result in an increase in mine.
It was inevitable, I was going to start my business and was just buying time waiting for the ideal moment (FYI-this wait would have been in vain, there is no such thing as ideal). My wait came to an abrupt halt when I lost my job. Such a horrid experience it was, I made up my mind then and there; I was never working for anyone else again.
But then came the obvious challenge…How was I going to make it happen?
I needed a business I could start now
I needed a business that wasn’t going to cost me a lot
I needed a business that I could start generating income almost immediately
I had developed several business ideas over the years but none of them met the above criteria. I knew already however that there was a business model that did; a Home Based Business. I immediately started looking for one that was a good fit for me.
Here are my top 8 reasons why I chose this model and why I think you should too:
1. Very low capital requirements. I was able to get started in my business immediately and with my own capital given that the requirements were very low. The maximum capital required to get started in my business of choice and completely ready to start earning income was US$1,103.50. They even had an option to get started with as low as only $200.
2. Very low overheads. It was important to me that any business I started I could also afford to keep going while I built my client base and grew my income (it takes money to make money). Recurring expenses to operate my business were no more than my existing light bill, my existing internet service charges and my cell phone (which increased by $50/month) as well as ensuring that I could restock my products on a monthly basis. In total this cost on was on an average increase of $200 to my existing monthly expenses.
3. A Ready-Made Business. I needed to know that what every product I had or service I was going to offer had already been determined to have a market. I also needed to not have to think about manufacturing, setting up a system of shipping, or setting up any e-commerce. I needed a system that was already in place so I could start generating income as soon as possible. My Home Based Business of choice already came with a complete system, all I needed to do was get training and get started.
4. Free Training. – Let me say this first, every new Entrepreneur needs to be ready to invest money in themselves so they may acquire the right skills to become successful Entrepreneurs. All successful Entrepreneurs invest several thousands of dollars in being trained to be good at what they do. That being said, It was very attractive to me that I was able to access instant training at no additional cost that taught me “the getting started” basics to generate income right away. It was this training that assisted me in recouping all my invested capital in my very first month of business.
5. Global Market Access – Most if not all Home Based Businesses are operated primarily via the internet. For this reason it was very attractive to me that my market was not going to be limited to my geographical location but instead I could target customers in any country in the world.
6. Everywhere Business – Because of point 5 above. No matter where I find myself, on vacation, at home, on the road I can always conduct my business. I didn’t have to be a prisoner to any one location.
7. Fast Profits – And no, I don’t mean get rich quick. The combination of small capital requirements, low overheads and free basic training allowed for my biggest need; quick positive income/profits. The average traditional business takes 5 – 10 years just to break even. The Home Based Business I adopted allows for the possibility of break-even occurring in your first day of business.
8. Residual Income – I spent several years prior to starting my business studying well-known Entrepreneurs and taking note of their recommendations. One fact I learnt from early was not setting up your business the right way can have you remain an employee, the only change being you are “self-employed”. Real freedom comes when you have built a business that is not dependent on you. IN other words, even when you are not working, the business continues to work. So should anything happen to you will not have to fear loss of your business. This is real financial and time freedom. This is what is called Residual or Passive Income and should be the goal of any Entrepreneur. The Home Based Business of my choice allowed and taught me to develop an organization or global business partners whose efforts and businesses I shared in the profits.
A Home Based Business offers a tremendous opportunity for someone with no business experience and minimal resources to start their business. Most Home Based businesses also allow a single individual to grow a significant organization that can rival any traditional business. In fact, there are individuals who own Home Based Business franchises that generate for them the same or more income than some Fortune 500 companies. Many well-known Entrepreneurs now recommend starting a Home Based Business, in particular one that allows you find and develop your own network of distributors, as the best way to start business in the 21st Century (See Robert Kyosaki’s book titled “Business of the 21st Century”)
I wish you success on your journey.