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Index › Business & Commerce › Home Based Business
 

Home Business - Part II

 
Author: Elizabeth Beecher
 

Having a home business equals financial freedom plus independence. Unless you are working on a job that rewards you with high commissions for sales made, it is unlikely you earn a salary that even remotely pays you for your efforts for your employer.

A marketing star I know brought in millions of dollars of sales for his company consistently each year. Unfortunately, the man was paid a straight salary with no commission. When he asked the Vice President of Marketing if the company would consider paying him on straight commission instead of salary, the response was that his commissions would be so high that they could not afford to do so. His employers did appreciate his efforts and sent him congratulatory letters for his personal file but that did not translate into an increase in his bi-weekly paycheck.

Since the man is over fifty, it would not be easy for him to quit his job and go elsewhere. However, if he was working for himself in a home business and making all these huge sales, he would become a wealthy man in a very short period of time and achieve financial freedom.

Theoretically, older workers should not experience discrimination in the work force but this is not true in many industries. In reality, jobs that require a great deal of public contact prefer younger employees. Consequently, having a home business is also ideal for older workers who are mentally sharp and have good experience but are no longer competitive or valued in the work force.

Working at a home business is a desirable alternative for women with children who prefer to be stay-at-home moms as opposed to mothers who have high powered careers and are required to give a lot of time to their jobs. Some women prefer the glamour, excitement and competition of careers as attorneys, sales executives, marketing managers, chief executive officers of corporations and the like and are comfortable with business travel and meetings. Others prefer a more laid-back environment and the ability to spend more time with their children and care for them when they are sick and must take days off from school.

This is not a criticism of either style of parenting. Working at a home business provides stay-at-home moms the option of earning a living, whether it be to augment the income of a husband or because the woman is divorced and possibly the sole support of her family.

Working at a home business is not for everyone. There are certain character traits that are necessary to be successful.

" You must be a self-starter as there will be no supervisor to check on what you are doing.
" You need to be prepared to spend a predetermined number of hours working on your business.
" You should prepare a business plan in advance to decide on your goal whether it be earning a certain amount of money, signing up a specific number of customers in a certain period of time, etc.
" You must realize that you will not be getting a weekly paycheck that you can count on.
" You should enjoy responsibility because you will have it all - in other words, "the buck stops here".
" If you decide to sleep late in the morning, no one else will do your work.

If you can handle the above and are capable of dealing with unexpected problems that will inevitably arise, you probably have what it takes to run a home business and hopefully, be a success.

 
 
 

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