The Benefits of Owning Your Own Business
The ability to gain financial independence is just one of the many reasons for you to start your own business. That said, the potential for having financial security is not the only benefit and you will quickly find that working on your own and in your own home affords you the opportunity to find your own perfect work-life balance and to completely change your life.
Consider the following lifestyle benefits of working from home in your own business:
The Financial Benefits of Working For Yourself
While you will gain more when you own your own business than just a good salary, money is still one of the main reasons that people start their own enterprises. Consider the fact that roughly 600,000 new businesses are started each year in the US. People naturally want to gain from their labor and working for others limits their ability to do that. Working in a traditional business setting for other people can provide you with all the things you want including benefits like health insurance and paid vacations. The problem is that even with those benefits, it is the employer who gets the most out of the employer/employee relationship. Employers are in business to make a profit, which means that the employee will always be paid less than they are truly worth. You may save and sacrifice for most of your working life and you may wind up being among those who can retire comfortably, or maybe not. When you start getting most of the benefit from your work, you may finally be able to have the financial security that you need. That security is one of the most important lifestyle benefits of working from home in your own enterprise. Your own business may provide you with a good enough salary that you can get rid of some of your student debt or pay for your home. You may be able to start saving for your kids' tuition earlier than you would have if you were someone else's employee. You may even get the financial security you need to retire early.
Enjoying Time Freedom
Working on your own time is one of the main lifestyle benefits of working from home. If you work for others, they tell you when you can take a vacation. The time that they choose may or may not be convenient for you; all that matters to your employer is that it is convenient for them. Time freedom is one of the main benefits you get when you own your own business, you get to determine your vacation schedule as well as how much you work each day. You can organize your workday to allow yourself more time with your family or simply to relax. You can even schedule your workload according to those times of the day when you are naturally most productive. Get most of your work done in the evenings or in the mornings, if you want. Consider the fact that the time you lose with your family by going to work for someone else is not something that you can ever recover. When you own your own business, you get to be productive while spending quality time with those who matter most. Striving for a satisfactory work-life balance is not a new struggle; many parents have seriously contemplated staying home and spending more time with their kids. Starting your own business can allow you to have the best of both worlds: career success and bonding time with your family.
You Get to Choose Your Co-workers
When you work for other people, they do the hiring. If you do not get along with your co-workers or are unable to fit into the corporate culture, you are on your own; you either work in misery or start searching for a new job. When you own your own business, you do the hiring; you get to choose the people who work with you, no longer is that in the hands of your superiors. Working for yourself allows you to surround yourself with those who will help you to achieve your dreams rather than those who will hinder you. You get to be in charge of your own corporate culture.
The Risks of Owning Your Own Business
Yes, starting your own business comes with a significant amount of risk; however, the fact that you are risking your own money means that you are the one who will reap the reward. You do not have to live with blame from your employers if you fail, and you get the lion's share of the benefits from your own success.
You Get Things Done More Efficiently
One of the hallmarks of corporate structure is its inefficiency. A good analogy is the difference between an ocean liner and a speedboat, which of those two would you say is the most maneuverable? The fact that your business is small and you are the only one making the decisions allows you a great deal of freedom; there is no red tape, no waiting on the decision of higher-ups. You can move quickly and go after opportunities far more quickly than an unwieldy, inefficient corporation.
The Benefits of Operating Your Business From Your Home
Your business will need a space in which to operate. If you work from home, this allows you to handle that need without the taking on the added expense of renting or purchasing more property. You get to cut your overhead and eliminate the need to drive to work every day. Consider all the other expenses you avoid by operating your business from your home, they range from utility costs and rent to insurance and the cost of property maintenance.
Why Network Marketing?
Business types are not all the same, whether or not you reap the benefits above depends on the type of business you launch. While any type of business can provide financial security if it is successful, some require more of a time-investment than others. Multilevel marketing (MLM) or network marketing is an excellent home-based business opportunity. One of the things that makes it so good is the fact that it has a low startup cost. In most cases, you will not even be required to keep an inventory of products. Even if such an inventory is necessary, the startup cost of this kind of marketing is still relatively low when compared to many other business types. MLM is based on cooperation, on people helping each other; as a result, a formal office space is not a necessity. It is perfectly acceptable to work from home and to meet clients in your living room or for lunch at a restaurant.
Network marketing has other advantages over most common business types, including the fact that a network marketing business will not have to advertise. One of the big costs for most small businesses is the need to compete with other businesses who are advertising. The entrepreneur has to spend money to get their name out there and hopefully draw in some customers. Compare that to MLM where the business model is for marketers to help other marketers to be profitable. When the MLM marketer helps someone else start their own business, the marketer makes money too; as does the person who helped them to get into the business. It is possible for an MLM marketer to help a few people get their own businesses started and then continue to earn a residual income with no further effort. The profits that others generate also benefits them. Another good thing about this business model is the fact that it is not vulnerable to the economic climate in the way many businesses are. Instead of rising costs when times get hard, they go down over time. The more people a MLM marketer helps, the more their own costs go down.
This business opportunity does not require that the marketer have any special skills or education; furthermore, there is no need for them to make a large investment to get started. Because the principles are relatively simple, most people will catch on quickly and will be able to help others get into the business. The fact that they will gain time freedom and be able to work from home will make network marketing an attractive business opportunity to many. There will always be people who are interested in finding a good work-life balance and making money in their own enterprises; because this business model is easy to teach, getting them started will require minimal time and effort.