The recent research has shown that there are over 40 million Home based Businesses alone in United States. The importance of Home Based Business has grown many folds in the recent economic scenario of recession. There are many reasons why someone wants to start a Home Based Business: additional income source or as a Backup source, childhood dream to own a business or to be a boss of own are few of them. For some the excitement and thrill associated with owing the Business is also a driving force.
The majority of the people thought that Home Based Business requires minimal effort and energy, but that’s not true. For all those who want to start their own enterprise, we advise you all, start your business on part time basis.
The reasons why we are supporting this very idea will be covered in the following paragraphs:
1.There is always the factor of uncertainty associated with any sort of venture. If regardless of your hard work and sincerity, your business doesn’t work, then at least you can go back to your full time job.
2.Part time businesses require less investment and finance, and hence risk is minimum.
3.Full time job can help you to pay your monthly bills. Especially in starting months when your cash flow will be negative.
4.Understanding the part time business ‘nuts and bolts’ first will help you to develop your confidence. You can enter into full time business with more knowledge and experience later.
5.You can avoid undue excess pressure if you have your full time job. Starting business on part time basis can help you to learn business skills at your own pace.
6.Holding full time job will help you to enjoy the benefits of Health insurance, loans and other benefits till you establish your part time home based business.
7.Loss made in first few years can be written off in your tax return and this is possible only if you have full time job with you.
8.It’s easy to obtain loan while you are in job. Banks lend loan more easily to person with stable source of income. With the loan you can fund your business easily.
9.If you have firmly decided that you’re going to be business entrepreneur than it’s essential to make use of your full time job contacts. Just keep in mind that management policies of your employer does not clash with your intentions.
10. Quitting your full time job all of a sudden and starting the business next day can bring chaos and disaster in your business and as well as in your life. It’s better to go slowly and gradually, as transition phase is always difficult to tackle.
There are certain disadvantages of doing full time job along with part time home based business. Handling both of them simultaneously can be detrimental to your physical and mental health and family life as well. If in case you indulge yourself in part time excessively then your full time job will suffer and irony is that there is no such rule by which you can judge whether involvement is excessive or not.
There are many successful businesses running in the world which have started as a part time. You can also achieve success, but all you need is hard work, passion and foresightedness.
Joe Daley
CEO and Logo Designer at Logomyway.com
Joe_Daley
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