In recent times, Home-based internet businesses have started to gain recognition around the globe; with the advent of the internet; the opportunities have become endless. According to Forbes, at least 52% of all small businesses in the United States of America, are home-based.
Often run out of the same premises where the owner lives; a home-based business affords you the opportunity to work according to your own pace and schedule. A lot of people desire to own an online business but they simply lack motivation. Here are 7 major reasons you should start a home-based internet business:
- Low Startup Capital
Starting a home-based internet business requires very little capital. Unlike the brick and mortar business where you have to source for funds to the extent of taking loans, a home-based internet business can be started right away without breaking the bank. Since it can be done from home, you do not have to spend money on huge money gulping factors like commercial space, printed stationery, and physical inventory. Starting off the most important tools for an internet business, are your gadgets i.e. laptop, smartphone and an internet connection; apart from these, your only real expenses would be a domain name and hosting account. This goes a long way to reduce the amount of risk involved in the business.
- Job Security
A lot of companies, for a number of reasons lay off workers and some ultimately shut down. These companies leave disgruntled and disoriented employees on their trail. Most times people who lose their jobs have no idea where to go from there. They put all their eggs in one basket and when things go south; they become confused. Having an online business can prevent this. Once you learn the ropes of running an online business, you can repeat the process over and over and still get the job done. You only have to be a little bit innovative. You are at no risk of being laid off or losing your job because you work on your own terms.
- Higher earning potential
In 1994 Jeff Bezos founded Amazon.com as an online bookstore, completely run out of his garage. Today, Amazon is the world’s largest online retailer. Full time jobs limit your income potential as your income is tied to your experience and your field. However, with a home-based internet business, the possibilities are endless. Nothing limits you. Kelly Lester, a stay-at-home mom, was able to build a successful million-dollar online business; with hard work, she garnered a huge fan base for her product, Easy lunch boxes and she only started from her kitchen. If you sell one product online today, with time and training, you will be good enough to sell more than brick and mortar businesses. Your business grows with dedication and hard work and you can always get staff members to help you out.
- Flexible working conditions
Running a home-based internet business provides greater flexibility than the conventional brick and mortar businesses. You are not confined to one location and you do not have to follow the strict 9-5 rule. With an internet business, you can choose when you want to work and where you want to work. You can also set your own working arrangements based on your particular needs to enable you to work when you are most productive. This inevitably gives you time to pursue other aspects of happiness like your hobbies, interests, traveling and what’s more? You get to spend more time with your family.
- Nobody orders you around
Even if your boss is awesome, being your own boss is a thousand times better. You do not have to tolerate whatever is thrown at you, all because you cannot afford to lose your job. Having a home-based internet business gives you more money with less hassle. You only take instructions from your clients not orders. With time, you also get to select the kind of clients to do business with because you have gained enough grounds and customer base.
- Greater sense of fulfillment
No matter how big or small your idea is, by doing something you’re passionate about, your journey to success can be a bit easier and fulfilling. Apart from that, you know you are doing it for yourself so every effort is totally worth it. Ben Silbermann, co-founder and CEO of Pinterest says, “If Google teaches you anything, it’s that small ideas can be big.” Most people doing 9-5 jobs trade their passion and fulfillment, just to get a paycheck. You put in your best, only to build someone else’s passion and dream. Although this arrangement could work for some; but if you do not feel fulfilled doing your current day job, you should at least try to seek satisfaction elsewhere and a home-based internet business might just be what you need.
- Wider coverage
The internet is one way that businesses have been able to penetrate impregnable markets. A home-based internet business allows you to reach a wide number of clients and potential clients, worldwide. Something you would never achieve by having only an offline complex. You no longer have to compete with businesses around your environment for a small network of customers because you have an online presence. From the comfort of your home, you can work for people thousands of miles away from you and get paid. The internet they say, is a store that never closes and at the same time gives your business a global audience.
Advantages of starting a home-based internet business
Nothing feels better than making a living at your own convenience. If you decide to start up a home-based internet business, here are some benefits you should expect:
- You would become financially independent as there are several opportunities for you to create multiple streams of income. Click here for a review of one successful opportunity.
- You would have the opportunity to generate passive income, thus giving you a cent or two, even when you do not put in any hours.
- You also get to spend less on childcare services and babysitters because you are home most of the time.
- A home-based internet business gives you the opportunity to explore your passion and interests.
- You also get more reward and appreciation for your efforts, unlike when you work for someone else.
- Expenses and risks are reduced as you do not even have to worry about commuting to work.
- Home-based businesses also affords you potentially lower tax rates.
Despite these Advantages, starting a home based internet business has a few cons, these disadvantages if not well handled can crush your business before it even begins. They include:
- Procrastination: This is the biggest enemy of home-based online business owners. However, with strong discipline and good knowledge of time management; this can be handled.
- Distraction: Your children, friends, television and some other factors can contribute to this. The solution is to create a small office space in your home and make it clear to everyone that when you are in there, no one comes close. Set boundaries between your work and family and maintain such boundaries.
- Loneliness: Sometimes while working from home, you might feel isolated and lonely, especially during tough times. However, when you begin to grow in the business and employ people, this part gets solved.
Finally, you should understand that every business has humble beginnings. It does not always matter where you begin, so long as you have a clear picture of where you would love to get to. Do not procrastinate anymore. This is the best time for you to take the time towards starting a home-based internet business. As Kevin Systrom, co-founder of Instagram, says, “If you’ve got an idea, start today. There’s no better time than now to get going.”