Top 5 Home Business Advantages

In my previous post, I discussed the top 9 items to look for in a legitimate home business.  Let’s go back even further.  Why even look at a home business?  What are the advantages of a home business?

In this post, I’ll go through the top 5 reasons why you should consider a home based business.  This, combined with my previous post, should give you a very good starting point when you are considering this industry.

  1. Job Security.  How many people do you know who are out of work?  It may even be you.  This recession has hit many people, and corporate downsizing is at the heart of it.  As someone who has been downsized in the past, I can relate.  And that is part of the reason I got involved with a legitimate home business.  Because you work for yourself, you’re not going to get downsized.  Do not get this confused with being unsuccessful and quitting your home business.  Just like a job, quitting is different from being downsized.
  2. Time.  Ironically, this is also a very common objection.  People will often say, “Well, it sounds great, but I just don’t have the time”.  My response to that is, “And how do you feel about that?”.    Einstein once said, “The definition of insanity is doing the same thing over and over and expecting different results”.  So if you keep doing what you’re doing, you’ll never have more time.  A home business gives you the opportunity to create more time for you and your family.
  3. Residual Income.  This will vary from business to business, but generally if you are involved with network marketing, you are probably going to have the opportunity at making residual income.  Again, this is income you make when you are not even actively working the business.  If you could grow your business and eventually put it on autopilot, yet still earn a good income, doesn’t that sound like a pretty good deal?
  4. Money Freedom.  And the residual income you make is going to give you two benefits:  Time Freedom and Money Freedom.  I have already covered the time aspect, but it’s fairly obvious that it can also result in enough money to last you a lifetime.  Wouldn’t it be nice to stop living paycheck-to-paycheck?  Or wondering where your next check is even going to come from?
  5. Tax Advantages.  Possibly the most overlooked advantage in a home business.  If you are involved in a work from home business, then there are a multitude of tax deductions you can take.  Want to take a prospect out to lunch and give them a presentation?  It’s deductible.  Need to travel to a business meeting?  The mileage is deductible.  Even certain home costs, which are not usually deductible, become tax savings.  Author and former IRS tax attorney, Sandy Botkin, says it best:  “Every North American taxpayer who works a full-time job and does not have a side business is probably overpaying taxes to the tune of $3,000 to $9,000 a year!“.

And those are only the top 5 advantages.  Depending on the business you get involved with, there could be even more.  Free products, helping others, better health, etc.  If you are looking for that time and money freedom, doesn’t it make sense to consider a home business?

So take some time and start researching your options.  A home business could change your life for the better.

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