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Home Based Businesses Work How To Get Control In This Uncertain Economy

Author : Hans Schoff

Submitted : 2010-10-28 00:24:10    Word Count : 1169    Popularity:   68

Tags:   home based business work

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With all the uncertainty in the world and economy today, more and more people are realizing that times are changing. The age of industry - where job security, retirement and pensions were commonplace - has suddenly transformed into the age of information. People are realizing the government and their job can no longer provide these kinds of benefits. And with the unpredictability and huge swings in the equities market over the past few years, many have already lost twelve or more years of their hard-earned wealth. Home prices are still tumbling, foreclosures are soaring, the employment rate isn't moving below 9% even with all the injected money and promises and taxes across the board are increasing...

No longer is this acceptable. No longer can people hand their money to brokers of stocks or real estate firms, or count on a government social security program; "broker" is the result for most people!

People in droves are realizing that they must get in control of their lives, and specifically their money. More and more people are searching for a vialble option for making supplemental cash flow. The problem is people are pressed for time already and long on commitments. They need to find another source of income, but aren't able to find a job that will earn them the $400 or whatever per hour they may need to achieve their goals with their time constraints. Even if such a scenario were possible, another job would only magnify the problem referred to above, further increasing your tax liability, meaning you would actually have to make more money just to keep pace with what taxes the government's going to take from you.

Fortunately, there are options. Besides finding that magical secure job - you know that one that can somehow pay you $1,000s/mo after taxes with retirement and other benefits - other than THAT, what else could you do?

One option is investing. If you are sitting on a large chunk of money - and with today's low rates and yields it does need to be quite a bit - this could be one way. Odds are if you're in this type of situation, you are probably already pretty well off and not needing to rely on the government or an employer anyway. But just for kicks, if you were looking to invest as a way to take control of your financial situation, let us say you had to make $10,000/mo in order to cover your cost of living, to pay down some debt maybe and to put aside for savings or tithing, et cetera. Ten thousand dollars a month is the same as getting a twelve percent yield on a million dollar investment. But that's just will not happen for most people in today's economy - particularly after you consider the government's portion (taxes). Realistically, you would have to have more like $10,000,000 invested in order to net ten thousand dollars a month in this economy. Consequently not very practical for the majority...

A better option is how most of the world's richest acquired their wealth: by starting a business. So here are the different options when it comes to business building:

Business Building Option 1:

Begin a conventional brick-and-mortar type business. Suppose you have this great idea for an incredible product. You could start a business to design, build and market your product. This again will require a large up front capital investment and start up financing is not so easy to obtain currently, regardless of how good your product might be. Plus, 9 out of every 10 businesses fails their 1st year, and the odds don't get much better for the next couple of years following either. One mindset to have is to just understand this and look to start up ten businesses. The education would be invaluable and your accumulated wealth by the 10th business - if you even needed to start all 10 - would be right up there with the top 1% of the U.S., if not the world.

Business Building Option 2:

Buy a Business Franchise (like TCBY Yogurt or KFC). A Franchise Business is an established business with pre-developed success structure or system of doing business. When buying a franchise, you are buying a turn-key business where you just follow directions and odds are good that you'll create as much as a multiple six-figure income. The downside though is the initial outlay: some of the best and highest paying franchises will cost $500,000 to $1,000,000 and above just to gain access and the rights to work their system. Plus you also have many of the other costs of like a traditional business such as location, employees, supplies, equipment, and so on. Banks are more friendly to this business because of the successful track record of these established businesses rather than a new start-up business, but even right now that may be difficult. So a person with limited business experience could earn income with a franchise if they follow a system - and they would have a much, much higher chance of succeeding than with starting up a traditional business - however it's still too cost prohibitive for most.

Business Building Option 3:

Home Based Business Work. With a low entry cost compared to the options above, but still the strength of an a proven business model as with the franchise business model, the Home Based Business Work model is the best solution for most people looking to take control of their finances today. The convenience of being able to work from home and utilize the power of the internet to plug into an existing company's successful business brings together all the advantages of the above business models with few of the disadvantages. One disadvantage though, due to the low cost of entry, is a home business owner is given access to the tools to be successful but must hold themselves accountable to work the business consistently to create consistent results.

One more important advantage the Home Based Business work model has over the others is the ability for Home Based Business work to generate long term residual income - where you are paid over and over for work created once. This does take time to develop, as little as two to five years for those serious and committed to their success, though internet marketing combined with the home based business work model in recent years has resulted with even greater results within 12 to 24 months.

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To learn more about how Home Based Business work can help you take full control of your financial future, visit this site now for more information: Home Based Business Work

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