In these troubling economic times, many people are either searching for jobs because they are unemployed (or expecting layoffs) or they are desperately hoping that they will be able to keep their job longer.
There is another choice: working for yourself. This doesn't mean that you have to quit your job or stop your search for a new job, but starting your own part-time business is a sure fire way to earn some extra income. Eventually, as you build your business over the next months and years, you will be able to draw enough income that you longer have to work for someone else. Here are some of the advantages and disadvantages of doing so:
Advantages:
- Work where and when you want (go to the pool/beach with your kids and bring your laptop or cell phone)
- Income level depends solely on how hard you work (more work=more income)
- No more relying others for promotions
- No more getting passed up on deserved promotions
- No more risk of getting laid off
- There is no ceiling to your income level (look at Warren Buffett and Bill Gates)
- Start a few hours a week and steadily increase until you can quit your job
- Massive tax advantages
- Increased flexibility (you can focus on what you think is best rather than what your boss tells you to do)
- Better work conditions (conduct your business in your PJs with the radio playing in the background
- Can't sleep? Do your monotonous work prior to going to bed and you'll fall asleep right away
- Have a worldwide customer base and not rely on one person (your employer) for your income. If you have one thousand customers and one customer fires you (stops paying for your service/product), you still have 999 customers paying your salary.
- Increased freedom and time, by far the most important advantages to working for yourself.
Disadvantages:
- Work where and when you want (you have to make sure that you are still being productive)
- Income level depends solely on how hard you work (less work=less income)
- You are solely responsible for whatever happens with your company
- Increased risk (only if you have quit your job and are relying on your new business for income), but easily mitigated if you choose the right business opportunity.
There are many different ways to start your own business. Here are just a few:
- Start Your Own Franchise = Low risk, high cost, have to deal with employees, could be many years before you make a profit, low residual income, large overhead
- Start Your Own Real Estate Investment Company = Low risk (if you do it right–seek a mentor), low cost (if you do it right), large profits, no employees, minimal overhead
- Start an Online Business: Multi-Level/Network Marketing = No risk, low startup costs, slow-building residual income, large profit…eventually, minimal overhead
- Start an Online Business: Affiliate Marketing = No risk, no startup costs, lots of work required to make profitable, great as a secondary income when combined with MLM/Network Marketing above, no overhead
- Pay-Per-Click/Action, Surveys, Etc. = No risk, no startup costs, no overhead, very little money
As you can see above, anyone CAN start their own business. However, not everyone SHOULD start their own business. If you don't have the drive to be successful, you won't. Don't start a business if you don't have a positive attitude, if you're lazy, if you get angry over nothing, if you whine and complain, or if you blame others for everything.
If you think you might want to start your online business, here’s a way that’s so simple to get started:
http://www.kylehaycock.com/training
If you would like to know more about which approach is the right approach for you, please contact Kyle Haycock for a free 30-minute consultation (email
ccpkyle@gmail.com to schedule an appointment).
Guest Expert:
Kyle Haycock is a former Staff Sergeant in the US Marines. He's been in business for himself for over six years in many various industries, has invested in real estate for eight years, and has been network marketing and online marketing for two years.
Kyle is semi-retired now, but his true passion is teaching others how to make more money so they can have a positive impact in the world.
To get started on the steps to freedom, please check out his website:
www.KyleHaycock.com
No comments:
Post a Comment