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Jun.17,2012Did you know that more than half of all U.S. businesses are either based out of or started in a home? Many entrepreneurs started multimillion dollar businesses in their garage or on a kitchen table. Apple Computer, Hershey’s, Ford Motor, Hewlett Packard, and Mary Kay Cosmetics all started out as home-based businesses. There are many more but this should give you the notion that it can be done.
Business ownership is not for everyone. You must have certain characteristics and a special attitude to want to start your own business. You must be self-motivated, have the right mindset, work ethic, skills, and commitment. Having the support of family members and friends is extremely important to the success of your business. Make sure you can distance yourself from negative people.
One way to see if a home business is right for you is to start your business as a part time endeavor. Select your niche and write a business plan to see if your business seems feasible. If you can see where this business will be profitable and you will enjoy it, start the business in your spare time. You will know when the time is right to quit your day job when you make enough to support yourself and your income surpasses your day job. Sometimes you may need to take a leap of faith if there are not enough hours in the day to do both your job and your business.
The majority of people think that having a job is stable and safe and owning a business is risky. The security of a job is all in the mind. When you have a job, you have no control over cut-backs, lay-offs, down-sizing, or company retirement funds. When you own your own business, you do have to worry about sales but you control lay-offs, down-sizing, cut-backs, and your retirement funds. Most of the time a self employed person has multiple sources of income from multiple clients. If you lose one client, you still have others and some income left. If you lose a job, your entire income goes to zero. My business is also very rewarding to me. Would you rather own your own business or have a job?
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