Do We Really Need A Home Based Business

In strategic planning they always tell you that you must always have a contingency plan. This means that you must create different probable scenarios of what could happen during the process of your original plan, and create a plan for each probable scenario.

Of course a plan is made because we need to reach a certain objective. Our objective in this case is to generate an income that would enable us live a kind of life that we aspire to live.

Since we do not have any money to start a business on our own and generate that kind of income we revert to the usual plan which is to find a job and then find our way up the organizational hierarchy of the corporate structure. Let us see what probable scenarios can come up here:

1) We are very successful and at the top of our game. We are moving up the corporate ladder and our income is nearing our goals and could very soon surpass it.

This is the most dangerous of all scenarios. It is very hard to cross our mind to take a moment and think what if something went wrong and all this success was taken away.

We all know that corporate life is never safe and anything can happen at any time. Even if we succeeded and were able to become at the top level of an organization, one day will come that we will have to retire and stay home. What are we going to do then?

2) We are working very hard but for some reason we do not seem to be progressing. What usually happens here is that we start looking for another job that would satisfy our needs and our growth expectations and plans.

We always think that the other job is greener and our chances there for development are greater. When we finally make the move, we realize that we have ran away from the previous problems with the old job, just to realize that we are facing a completely new set of problems with this new job.

3) We feel that our work is not appreciated and there is danger at any time that we might lose the job that is generating an income for us, and we say "an income" because we are still far away from what we aspire to achieve.

The above are not all the life scenarios that exist; as you may have your own established and successful own business which is not home based or online. Still we would say that diversification into Home Based and specifically Online Business is essential. I would only take the factor of the explosion of the internet and the abundant opportunity that exists there and stop the conversation there.

You can think of all the above scenarios either as separate examples or phases of one person's life cycle. So we need a plan "B," a contingency plan for these scenarios. Of course we can complicate things further by creating a different set of solution plans for each scenario, but that means that we will have to run into writing a long report of about 100 pages.

So let us look at the different probable solutions we have at hand:

1) Investment Options such as stocks and other similar options: This could be a good option for the first scenario, but it is also highly risky. This solution will not cater for the retirement part which involves not having anything to do after you leave work. Still no one can deny that this option could turn out to be extremely rewarding.

2) Always keep yourself in the market so that you can switch jobs at any time. This tactic has many medium and long term disadvantages. But top of mind disadvantages include:

a. Not going anywhere in any organization because you are not giving it enough time.

b. Your chances of finding the next job could gradually diminish as your CV will show the unsteady behavior.

c. You will not concentrate on the job at hand since you are always looking for the better job.

d. And many more disadvantages

3) Have your own business: This option seems very good, but if we are looking at it in terms of investing a lot of money and borrowing from the bank to be able to operate the business, then this stops being a plan "B." This means that you are already changing lanes without even signaling. Although it can be rewarding, but again we have to stress that this is not a contingency plan. This means you are changing your plan.

4) Home Based Business: Now this option is similar to the previous one but with a twist. Because home based business does not require a large investment and does not require your total attention and devotion for it to succeed, you can for sure call it a plan "B" since you are still working at your job. Advantages of this solution:

a. Low and in many cases extremely low initial investment

b. You do not have to work full time

c. Does not require you full attention

d. You can work at your own set hours

e. If anything goes wrong with your original work, then you can shift gears very quickly and you will be able to absorb the shock without any panic.

f. And many more..

All the above advantages could become disadvantages if you don't take your home business seriously. If you keep postponing things you need to do and making it the least of your priorities then this business will not see the light of day.

A home business is a wonderful thing to have working for you especially when you don't need it. Because then you will be working relaxed and enjoying what you are building for your future. You will not be stressed out and wanting it to succeed in one month.

With a home based business you have to be patient and consistent and eventually you will achieve your dreams.

Comments

How To Raise The Value Of Your Products

Whether you create and sell your own products, buy reselling rights or rebrand other people's products, adding value with bonuses is a well-used tactic in affiliate marketing. Why? Because a good bonus is valid, honest, and truly does add value to any offer. Perhaps most importantly, it makes the customer think that NOT to purchase would be a very unwise decision.

Online Classified Ads And Its Advantages

In today' s modern, sophisticated and fast world, online classifieds have become a medium of communication among the internet users. On one end it is informative and on the other end it is convenient and cost effective. In this scenario, the online classified websites have occupied one among the top ranking sites on the internet due to its vast popularity among the users. Today there are n number of classifieds sites on the internet and some of them are not only useful but are also impressive giving its users a chance to place ads in different categories such as jobs, real estate, for sale etc. Where as newspapers has limited approach to people compared to on line classifieds where it can reach the millions of people at single click. This can be said as one of the major reasons for the recognition of the classifieds sites. The responses one receives through placing their ads in classifieds sites is far more than compared to news paper ads or print media ads. Due to these eff...

Easy Way To Make Your Small Business More Visible - For Free

No two small businesses are alike, but most want to be like their larger counterparts in some key respects. So, many people want their small business more visible. For example, even if you own a company with only a few really great customers, you want to be visible enough to attract new customers, boost your odds of securing repeat business and do all you can to improve customer satisfaction.

What Do Your Clients Expect From Your Postcards

The first is to make the business known to people. Familiarity is the first aspect. Probable clients need to know that your business exists. Not only that, you exist with credibility and quality. How do you do it? Well, savvy businessmen use promotional materials to make their products and services familiar, maintain their standing in the business world and more.

Proven Useful Tips and Forms of Advertising

The main aim of advertisers is to communicate and influence the prospective customers to buy a particular brand’s product. Often they also advertise in order to improve the brand image. For this purposes every major medium and advertising tool is used to deliver their message. Some of the key mediums like television, radio, cinema, magazines, newspapers, video games, the Internet and billboards are used extensively. To advertise, a company usually appoints an advertising agency or advertising industry to send their message across. Commonly, advertisements are seen on carts, airport, on the sides of buses, buss shelters, etc. Advertisements are cleverly placed at places where viewers can easily and regularly access visual, audio and printed information. Mentioned below are some forms of advertising: Advocacy Advertising: This type of advertising is done mainly for economic, political, or social issues. Advocate Advertising can be in the form of advertisement, message, or public communic...

Advice About Setting Up Your Own Business

Are you thinking about setting up your own business? Have you an idea for a new business but are unsure about how to proceed? If you have answered yes to either of these questions, this article could be of benefit to you. I am going to write about how to plan and create a successful small business.

How Much Are You Worth - Consulting Fees

How much is your time and expertise worth? Its the age old challenge for consultants: how much do I bill my clients? Sadly, there is no set in stone answer, however, here are some tips that will help you establish your rates. First, lets look at your client's needs. Why are they hiring an outside consultant, when they have employees? There are several reasons why your client is interested in hiring you as a consultant: a) third party opinion - employees know where their bread is buttered, so they are less inclined to go against the current direction of the company. As an outsider, there is no concern with offering a different opinion. Your independent opinion can provide a much needed, focused perspective your client's company needs. b) you are cheaper - this is what is normally the hardest for new consultants to understand. How can you command $75/hr when your client has reps working for $20/hr. It normally ends up with the consultant charging a lower rates. No more! The emplo...

How To Squeeze More Profit Out Of Your Customers

Ask any small business owner to come up with ideas on how to market their business and they will say adverts, brochures, leaflets, direct mail etc. Whilst all these are great ways of promoting your business they all cost money! What if I could show you a better and more effective way of marketing your business? In this article I am going to share with you some key strategies to get more business and ultimately increase your profits.

Smart Advertising In Affiliate Marketing

Affiliate marketing is all about the promotion of products of an online company. The affiliate sign-ups with the advertiser or marketing arm of the online company and the affiliate becomes an active searcher of potential clients. Such set-up of affiliate marketing can become easily successful if the affiliate is aware of the importance of advertising. Advertising is the means to make a great portion of the consuming public become aware of a certain product or service. Thus, advertising should be attractive and should be appealing to the consumers. If the advertising is not appealing enough, it will not be effective. If the advertising has pulled the attention of the consumers, then such advertising is powerful. To make one’s advertising effective and powerful, an affiliate must use the smart methods of advertising. One such method of advertising is the re-use of one key concept of affiliate marketing. This key concept is the harnessing of human resources. That is, an affiliate may tap ...

Spending Money on Catalog Advertising

Apart from newspaper advertising, a system of leaflets, cards and catalogs can be operated to a business advantage in marketing its products and services. One week a business owner may send out leaflets, next week he may mail cards with a nicely written message calling the attention of the recipient to make some action, then the week after that a tasty catalog may float along – talking about good work, good stock, prompt deliveries and affordable prices. As most of you are probably aware of, catalogs are a good way to market all kinds and types of products. From products with general appeal to products that fits a specific market, catalogs and other direct marketing materials can be your key to being successful in the ever crowded marketplace. Catalogs offer new and interesting products to their customers each month, quarter or year depending on the business. Catalogs also like to promote products that are not easily found at retail stores, products that ...

The Money Lab

Search This Blog