Home Based Business - Why Starting Part-Time Is The Smart Way To Success.
With the development of various technologies and with low start
up costs it has become much easier today for Entrepreneurs to
start a Home Based Business. It is estimated that in USA alone
there are over 40 million Home Based Businesses. Home Based
Businesses represent 63% of all Small Businesses. Furthermore
over 75% of these businesses are operated on a part-time basis.
Some of the reasons generally attributed for starting a Home
Based Business are; the fulfillment of a dream, the necessity
for an additional income or to have a back up income in the
event of losing the present secure job. A reason that is more
universal is that most people love to own and run a Home Based
Business and would like to experience the thrill and excitement
of operating a business from home either full-time or part-time.
The majority of those who come under the last category are often
under the misconception that it needs very little effort to
operate a business from home.
If you have an idea of starting a Home Based Business it is
advisable that you should start by running it on a part-time
basis while continuing to work on your full-time job. There are
several very compelling reasons for adopting this part-time
business strategy. I shall enumerate the most important ones
1. In spite of your enthusiasm and determination to succeed in
your Home Based Business, your attempt could end up in failure
for various reasons. In such an event you could always fall
back on your full-time job. Talking about failure can be
disconcerting to some but you have to be prepared for any
2. By starting as a part-time business, your investment both in
finance and time will naturally be small thus minimizing the
3. While in the process of establishing your Home Based
Business, you still have to settle your monthly bills. It is
the full-time job that can help you tide over this situation
especially during the early months of your part-time business.
If you start making profits early in your business then build
up a reserve fund to start your full-time home based business.
4. The very thought of your having a regular full-time job with
a steady income will give you the confidence to take a
reasonable amount of risk in your part-time home based
business. This will not be possible otherwise.
5. The presence of a full-time job means that you will not be
under excess pressure to perform in your pat-time business for
your survival. You can learn business skills, acquire business
knowledge and grow gradually at your own pace.
6. By holding on to your full-time job you can continue to
enjoy the benefits of health insurance, leave and other
benefits till you establish yourself in your part-time
7. In the event of sustaining loses in your business during the
first year or two; these could be written off when submitting
your tax returns.
8. It is much easier to obtain bank loans, credit card
facilities and other financial benefits for your business while
you are in employment. Why not take advantage of this and grow
your home based business while you are in employment.
9. If your intention is to become a home based business
entrepreneur one day, then make use of your full-time job and
lay the foundation for your home based business by making the
necessary contacts with people who could be useful to your
future business and could also end up as customers. You should
of course ensure that your actions do not come in conflict with
the Management policies of your employer.
10. Quitting your full-time job one day and starting a
full-time home based business the following day could end up in
chaos and disaster unless you have very strong support from
experienced entrepreneurs. On the other hand if done gradually
transition from full time job to full time home based business
becomes much easier.
Having said the above, it has to be mentioned that there are
ofcource certain disadvantages in the method indicated.
Doing a full-time job and running a part-time home based
business can be strenuous and you can experience burnout and
consequently neglect either you business, job or even both.
Excessive indulgence in your part-time business can eventually
lead to under performing in your full-time job, thereby
creating problems with your Boss or Employer.
You will have to sacrifice much of your precious family time
for the sake of your home based business.
Success in your home based business or for that matter in any
business does not come easily. It requires hard work,
sacrifice, dedication and determination. Above all you have to
be passionate about what you are doing.
Many great businesses have grown from small beginnings
including the Giant Amazon.com. Start sowing the seeds of your
home based business while you are in employment, watch it
germinate, look after it with tender care, be passionate about
it and watch it bearing the fruits of your labor. Enjoy the
fruits of your labor and when the time is ripe, quit your full
time job. Thatís it, keep growing and establish yourself as a
successful home based business entrepreneur. This then is the
Smart way to Success.
Copyright © 2005 Kanaga Siva.
About The Author: Kanaga Siva has a wealth of experience in
Marketing and also running a Home Based Business. Visit his
internet marketing website www.business-fromhome.com for
Articles, Resources and Advice to start a Home Based Business.