The economic recession forced many Americans out of work, driving home a simple fact — if you work for someone else, you can’t control your financial future.
Being your own boss holds wide appeal. Americans with home-based businesses report to no one, set their own hours, don’t have to deal with office politics and determine their own salaries.
“No other circumstance besides a home-based business allows you to set your own work schedule, plan time for your social life and experience ultimate flexibility for meeting family obligations while at the same time providing unlimited reward,” says Paul J. Meyer, author of “Pink Slip Proof: How to Control All Future Paychecks.”
Here are some good reasons to get startedHere are some good reasons to get started
Meyer provides the following reasons to look into starting a home-based business:
1. Personal Freedom. You can choose the business you want and control your day-to-day work hours.
2. Reduction of Stress. When you’re in control, you will experience less stress. As long as you get your work done, it doesn’t matter when you do it. For example, if you’re a night owl, you can work late and sleep late.
3. Involve Your Family. Spouses or other family members can pool their talents and resources and work together to create a successful business. In addition, if both partners are home, you may be able to cut back on childcare costs.
4. Financial Rewards. Home-based businesses open doors for the handicapped, students, homemakers and others who may not be able to land high-paying corporate jobs. You can make as much money as you’re willing to work for.
5. Increase Your Competitive Edge. Working out of your home will save you money on overhead — money that you can then channel back into your business. Pass your own savings onto your customers.
6. Greater Productivity. Your enthusiasm will be higher, so your productivity will increase -; after all, you are the direct beneficiary of your own efforts.
7. Tax Advantages. You can deduct things like a percentage of your mortgage or rent, a percentage of your vehicle expenses, software costs and money spent on entertaining clients.
“If all that sounds like a fresh start, a perfect fit, then a home-based business could be your ticket to fulfilling all your dreams and goals,” says Meyer.