Job Security Through A Home Business

Last month, I had discussed the Top 5 Home Business Advantages.  I want to spend the next couple posts breaking these down individually.  The first reason was, Job Security.  And obviously, with the way the economy is currently, this is a fairly hot topic.  So let’s start there.

This issue of job security is a concern of many people.  Companies are cutting back their work force in an attempt to stay in the black.  Then there is the issue of outsourcing overseas.  Suffice to say, there are many reasons why you may lose your job.

So the next question you have to ask yourself is, do you want that possibility hanging over your head the entire time you are employed?  Always wondering when the next layoff will be, and if you will be affected?  You probably feel as though you do not control part of your life.

If you think about it, there are 24hrs in a day.  And you spend 8 of those hours (or more) working.  That’s 33% of your time, every day.  What would happen if you did lose your job due to it being outsourced?  Do you have enough money stashed away to last you until you found another job?  Would you even be ABLE to find another job in an acceptable amount of time?

The answer is to look at creating multiple streams of income.  The concept is similar to investing in the stock market.  The rule of thumb is to diversify your portfolio so you spread out your money over several stocks, rather than having ALL of your money in just one stock.  Why?  Because if that one stock were to decrease in value significantly, you stand to lose a lot of money.

The same principle holds true here.  If you only have one source of income and you lose it, you could be in some serious trouble.  However, if you have MULTIPLE sources of income, you stand a much better chance of weathering the storm.

I’ll give you another reason for getting involved with a home business to gain more job security.  If you start a home business, are you going to lay yourself off?  Of course not.  You are working for yourself.  So job security is built right in.  The only risk would be if the company you join goes out of business.  Which is why it becomes VITAL to do your research and make sure the company you are looking at is stable and positioned to continue growing.

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