Should I Start an Online Home Based Business?

Home Based Business – Should I Start One?

work from homeShould I start my own home based business? My honest answer to this question is, it depends on you. Only you can answer the question as to whether or not you want to be an entrepreneur or business owner.  I want to explain in a little more detail about what is involved in an online home based business, and then you need to be honest with yourself to determine if it is something you want to pursue.

Not everyone is cut out to be an entrepreneur, or business owner. My husband happens to be one of those individuals. He prefers to go to work, earn his salary, and come home and relax by enjoying his many hobbies. I on the other hand am the complete opposite. Let me tell you a little more about myself, to help you understand why I decided to start my own home based business.

My Story

I have always been interested in running my own business. However, I worked for almost 20 years for other people. Some jobs I loved, some I didn’t. Twelve of those years were spent in Management, but the very long hours (minimum 80 hours a week to over a 100 hours a week), and managing adults that acted like children, burned me out. I then made a career change over to sales, and I found that I loved it. I no longer had to manage anyone but myself, and I didn’t have to work excessive hours (only 40 – 50 hours a week). The only drawback for me was that I was a salaried salesperson, and didn’t get commissions from the company I was employed by. This helped bring back my entrepreneurial spirit that had been buried in me for so long. That is when my interest in an online home based business began.

Like many other people I got started researching then joined a few programs, but never got started because I was suffering from information overload. A little over a year later my mother passed away very suddenly at age 61. She was diagnosed with cancer and passed away 8 days later. This was my wakeup call about how short life really is, and I started to learn more about the internet marketing world. Unfortunately, about 9 months later my step dad was diagnosed with cancer. After my mother’s death I wanted to be there for my step dad to help take care of him during his treatments. He had taken wonderful care of my mother in the 22 years they had been together, as she was dealing with Multiple Sclerosis and had been house bound and unable to care for herself.

After life slapped me upside my head once again, I decided to quit my stable job in sales and take care of my step dad while he was going through cancer treatment. I am happy to report he is now cancer free and is doing well. During this time in between everything that was going on in my personal life I decided I was now truly ready to dive head first into internet marketing.

I had some reservations of course because I am not a technical person. My husband is, he is a computer programmer, but that is so not me.  I knew I would have to learn what I consider technical things like how to build websites, set up hosting for my websites, etc. The other big caveat for me was realizing that I would have to write, a lot. When you pursue internet marketing you need to write all of your own content (or pay a website content writer to do it, which can be expensive), be it for your website, blog, Facebook posts, etc. I am not a natural born writer. Writing is difficult for me; it is not one of my natural skill sets. I am getting better every day and am starting to enjoy it. I like helping others, and if my experiences help you, then I achieved my goal.

I think one of the main reasons I am succeeding is the fact that I went into this expecting this to be hard work. Many people are scammed into believing that an online or work from home business is easy and not a lot of work. Nothing can be further from the truth. Any business regardless of what it is will take a lot of effort on your part. Having a business for yourself takes hard work, dedication, persistence, endless amounts patience, the ability to adjust to change, and the understanding that you will regularly continue to educate yourself and evolve as time and technology changes. I know that sounds like a lot, and quite honestly it is, but you must be honest with yourself. Only you know if you are truly willing to do those things.

To Answer the Question Should I Start A Home Based Business?

For me the answer was yes! I love the freedom an online home based business has given me.

So back to the question of "should I start a home based business?" Of course I can’t answer this question for you, as I said only you can do that, but here are some of the pros and cons of having your own home based business.

Pros to a Home Based Business

  • I am my own boss. – I don’t have anyone telling me how to do my job.
  • Freedom – I can work around my life, instead of living my life around my work.
  • Schedule – I am a night owl by nature, so I can sleep in, and work in the afternoon, and late evenings. Bottom line I can work whenever I want.
  • Flexibility – My life is flexible. I can work as much or as little as I want. My goals are up to me.
  • Location – I can work from anywhere as long as I have an internet connection. If I want to travel out of state and visit family, I can. I just make sure I bring my laptop with me.
  • Dress Code – I can work in my pajamas if I want to.
  • No Commute – I don’t have to drive to work. I just walk from my bedroom when I wake up to my home office space.
  • Start Up Costs & Carrying Costs – Starting and running a home based business requires very little start up costs and monthly carrying costs.
  • Tax Advantages & Write Offs – I now get the tax advantages other businesses get by having my own business.
  • Income – I determine my income, based on my efforts. I can increase my income based on how hard and how much I work.

Cons to a Home Based Business

  • Distractions – If you have kids, pets, loud neighbors etc. you will have to learn to deal with distractions. One way to avoid this is to create a dedicated office space where it is quiet, so you can get your work done.
  • Isolation – You will no longer have people working with or around you. You are self employed and don’t have employees. To help with isolation, I use forums. This way I get to interact with other like minded individuals during my work day.
  • Organization – To run your business efficiently, so you aren’t wasting your time, you must be organized and stay organized.
  • Time Management – You have to manage your own time. I use a day planner to plan my work every day, and cross off things as I complete them. It is easy to get side tracked; you will have to control this yourself.
  • Motivation – You have to self motivate, you won’t have co-workers and friends around you while working, so it will be your responsibility to keep yourself motivated.
  • No Health Benefits or 401K – You won’t have an employer providing health benefits or retirement benefits. You will have to pay all these expenses out of your own pocket.

What Type of Home Based Business Should I Consider?

This is another impossible question to answer because the answer depends on you and your interests.

There are tons of options available such as; affiliate marketing, Ebay, Google Adsense, Blogging, a rep for an MLM such as Mary Kay, Scentsy Candles, etc. If you have skills such as web design, or are a social media expert, etc. that you can market as a Consultant, then the possibilities are endless.

I personally prefer affiliate marketing. I prefer it because:

  • I don’t have to go out and personally get clients.
  • I don’t have to have any inventory.
  • I don’t have to ship anything.
  • I don’t have to process any payments.
  • I don’t have to provide customer support.  My business is running 24 hours a day, 7 days a week, 365 days a year, because my entire business is on the internet. With my business being solely on the internet my potential customers can be anywhere in the world.

Click here to see my blog post "What is Affiliate Marketing?"

Conclusion

If you were on the fence on whether or not you wanted to be a business owner for yourself, I hope this blog post helped you to now make an educated decision.

For more great information regarding anything internet marketing related, check out the rest of my Blog.

Good Luck.