9 Reasons to Start a Home Based Business
The "Lifestyle" approach to network marketing is an innovative yet natural way to gain financial independence. It's innovative because it defies the traditional business model of relying on advertising to generate slow-building product sales. It's natural because instead of high-pressure sales tactics and expensive advertising, it relies on the concept of helping yourself through helping others.
That's why when I started to list nine great reasons why this is the perfect day to start owning your life, I had a really hard time. It wasn't because it was hard to come up with nine reasons, it was hard to limit the list to just nine!
To help me narrow the many reasons down to just a few, I went to some of our most successful partners. They told me that for them, the benefit isn't just making more money; it is enjoying a whole new lifestyle. These are the nine biggest benefits of that lifestyle.
Quality of Life
1. Take a Well-Deserved Vacation
When was the last time you took a vacation? How long was it? For most people vacations are controlled by their employer. They are told when they can go and how long they can take. Wouldn't you like to take as long a vacation as you want, when you are ready to go? When you own the business, you set the vacation schedule!
2. Spend More Time with Your Family
If you spend 40, 60 or even 80 hours a week at work, how much time are you spending with your family? How many dance recitals or parent-teacher meetings have you missed? These years of family time that you are losing can never be regained. Make the choice to own your life today, and start giving your family the love and attention that both you and they deserve.
3. Give Your Children a Stay-at-Home Parent
Life is full of tough choices. You hated the idea of taking your kids to day care instead of being home with them every day. You had to, though, just to make ends meet. Very few jobs today pay enough to let one parent stay home. When you live and work at home, you can earn as much as you need and still be there for your children. Your spouse may be able to stay home, too. You won't miss any more of the crucial bonding years with your children. You decide how much time you need to spend working, and take the family time that you need.
4. Eliminate Debts
Part of owning your life is owning your financial situation. If you have debts, you can spend the extra money you can make paying some of them off. Get rid of those high-interest credit card payments. Pay off your car. Remove some of the stress in your life by eliminating some of your debts.
5. Pay Your Mortgage Off Quicker
A home mortgage is one of the biggest expenses most people have. Wouldn't you like to get yours paid off sooner? Just one extra principal payment each year can take years off of your loan. Imagine what two or three could do! Imagine making an extra payment each month! Paying your mortgage off sooner can mean having to work less in your later years.
6. Earn More Money to Help Buy Your Dream Car or Home
Owning your business can mean earning more money for the things you want. Because your labor goes to make money for you instead of a corporation, you can earn more money for the hours that you work. You may want to put some of this money toward the car or home you have always wanted. That is what financial freedom is all about.
Increase Your Savings
7. Enjoy Valuable Tax Savings
Saving money is the same as making more money. When you own a home based business, part of your home becomes business space. The rooms you work in, the computer and printer you use, and your Internet service and cell phone all may become business expenses. This means they may be deductible on your taxes, saving you money! That is more money you can put to work paying off debts or taking a hard-earned vacation.
8. Save for a Rainy Day
When you work for someone else, it is hard to have extra money at the end of the month for savings. If your car broke down, could you pay to get it fixed? If your child needed braces, could you afford them? The extra money you can earn with your own business can make this possible. You can put some of that money in the bank for a rainy day. That way, when the bumps in the road of life come along, you will be ready for them.
9. Add to Your Retirement Savings
Do have enough money in the bank to retire when you are ready? Does your present job let you save enough money every month so that you can ever stop working? Jobs today rarely come with company-paid retirement plans. They make you put your money into stocks or IRAs if you want to be able to retire. That can be hard to do when you barely make enough to pay the bills. Your home-based business can give you the extra money to start building up your retirement savings now.
Learn How You Can Own Your Life Today!
Find out how you can have a whole new lifestyle with your own home based business. There is no better time than now to start owning your life!
Why Start a Home Based Business
The decision to go into business means you no longer work for someone else. It also means paying the cost of operation. That is why many entrepreneurs opt for a home based business; they are already paying the costs, so there is no need to borrow operating cash. Besides the low overhead, people who work from home enjoy a lot of benefits. Taking advantage of the right business opportunity, multilevel marketing (MLM), turns helping others into a path to financial freedom. Making your dreams come true is as simple as deciding to get started.
The Cost of a Home Based Business
In order to put this into perspective, it is necessary to consider what it costs to operate a business at a commercial location. Choosing a line of business that is subject to special zoning may require it. There must be a reason for having the business in a commercial spot, so I assume you will need a location that customers visit. There are some costs:
Commercial tenants pay a security deposit to the landlord. Utility providers require a deposit to start service. Most of them base the amount on the most recent 12 month history. Between the landlord and the utilities, you need four deposits. The maddening thing about deposits is that you spend money without receiving anything tangible.
Home based business owners do not add any deposits to startup cost. The utilities have been on since long before taking advantage of any business opportunity. Rearrange some furniture and you now work from home.
Utility bills are paid on a monthly basis. It is not wise to be miserly if you expect to receive clients at the location. Summer customers will not stay long in an office that provides little relief from the heat.
A business opportunity that allows you to work from home does not necessarily receive clients. As an MLM entrepreneur, you meet people in a casual setting over coffee or lunch. If ever you need a place to receive a group, your living room will do nicely. The spirit of helping each other makes MLM less formal. Some MLM business people meet in the prospective client’s home.
The monthly lease on a location that customers locate easily will cost a lot more than something hidden on some backstreet that time forgot. Businesses that need a location usually need a good one. This expense alone is enough to ruin some startup companies.
The cost of keeping the roof over your head does not change when you work from home. The only change you will see is when you pay off your mortgage. If you currently rent, you will soon purchase your dream home; this is just one of the lifestyle benefits enjoyed by the many successful MLM business owners.
Liability insurance is another intangible cost you do not want to be without. You will be glad to have it on the day you find yourself at fault for property or personal damage suffered by one of your clients. Cost varies by deductible and coverage amounts.
There are a couple of things to consider: First, homeowners have liability insurance. Second, MLM marketers do not need it.
Telephone service is indispensable in a traditional business location. The resourceful entrepreneur may get by without having a secretary to answer it; however, the location must have a phone number just to appear in the local directory. The phone used in your home based business is your mobile phone. There is no need to change anything. Your wireless phone is with you no matter where you go.
Daily cleaning is a must. A business that receives customers must be inviting. The last thing you want is for customers to fear using the restroom at your place of business. Companies either perform maintenance tasks or they hire someone to do it for them. Working from home means your existing routine goes unchanged.
The Advantages of MLM (Multilevel Marketing)
Traditional businesses deal with the problem of attracting customers each and every day of their existence. Going head-to-head with the competition forces the purchase of unwanted advertising. There are three major challenges faced by traditional business owners that MLM businesses do not experience:
The problem with advertising is that entrepreneurs have no other means of attracting customers. This makes it a necessary expense. There are some creative ways to advertise, but it is mostly a gamble.
You have to put an ad in the phone directory. If there is a local competitor running ads on the radio, you will have to do the same. From television commercials to billboards and other signage, the flow of spending never ends.
The problem does not exist for MLM businesses. MLM is set up to make helping others profitable. The business owner tells people how he can help them to achieve what he has; then he helps them to set up their own business. Each time this happens he earns a profit, and it does not stop there. When he sets up a new customer the person who helped him get into the business makes money, whether he knows about it or not. People in MLM literally make money while they sleep!
Traditional businesses face competition regularly. Customers are loyal to their own families, not specific stores. Established businesses often suffer when a bigger and seemingly better supplier arrives on the scene. Large corporations weather profit losses for years at a time just to undersell existing competition.
The design of MLM means that an influx of businesses into the marketplace creates more profit. MLM businesses often help a few great marketers get started and then stand back and watch the action. They enjoy ever-increasing profits generated by others.
In an economic downturn, traditional businesses must cope with rising costs. The problem is compounded by the need to match competitor pricing. Corporate businesses buy in large quantity. The purchase of more products qualifies them for discounted pricing. The mom and pop competitor can barely keep overpriced goods on the shelf.
MLM, on the other hand, is set up so that costs continually decrease. This is true in good and bad economies. The more people a home based business owner helps, the lower is her cost.
The Lifestyle Benefits Comparison
When it comes to comparing one business opportunity to another, consider your reasons for going into business. When you have a job and want your own business, you are probably tired of working your fingers to the bone to increase somebody else’s bottom line. If you choose to go into the wrong business you may be jumping out of the proverbial frying pan and into the fire. Consider:
Vacation and personal time
The lifestyle benefits may be barely noticeable if you launch a traditional business. You may even see less of your children than you do now. A business based in a commercial location becomes your new prison. The business represents a huge investment for your family. You cannot afford to risk spending any time with them; you must recuperate the money through hard work. It takes many years to see a return on this kind of investment, and that knowledge is going to have you lying awake at night and skipping the school play. You probably will not be able to afford a vacation for many years.
The difference between going into MLM and a traditional business are like night and day when it comes to vacation and personal time. MLM entrepreneurs go into business for a minimal investment. There is no second mortgage to worry about. Plus, it only takes a short time to build a book of clients. The bigger the client base, the more automatic is the profit and cash flow. Every dollar generated by your down line and those working below it makes you money. You can go on vacation whenever you please.
Owning either type of business affords a certain level of independence. However, you can start your MLM business with a minor investment; you will enjoy the freedom a lot more. In a traditional business you make the decisions; however, you are always aware that if your decisions are not convenient for customers, you will be in trouble. The possibility of losing your home hangs over you and is never far from your thoughts.
Profit is something MLM business people experience much sooner than do commercially financed operations. MLM allows for earnings that pay for dream homes. The traditional route means a perpetual second mortgage on the existing home, which is anything but your dream. MLM business owners enjoy lifestyle benefits such as vacations abroad and quality time with loved ones.
When you work from home, the business costs an insignificant amount. Operation of the business starts out easy and gets easier over time. The opposite is true when going the traditional way. Costs decline continuously for multilevel marketers. When you go into MLM you support the people who came before you while creating a money-generating team of people who will now support you through their efforts. Find a product you believe in and give MLM a try today. You will always be glad you did.