Article by Kelly Heldreth
Is making money from home a goal that fills your thoughts night and day? More and more Americans are turning to home business ideas, either for an extra income or even as a replacement for their current job. Working from home can be a satisfying experience, and with proper planning your chances for financial success will greatly increase.
Before jumping right into a business idea, make sure you have all your ducks in a row. Check with your local SBA chapter to find out what type of license or permits you will. Another invaluable resource is the IRS government website. Full instructions for obtaining a Tax I.D. Number (which you will need in order to buy products at wholesale cost), as well as information on sales tax rules and yearly income tax filing laws can be found there. Many people starting a home business, especially if it is online, make the mistake of not treating it like a real business. Unfortunately for them, the IRS does not hold the same views.
Another important part of your plan is the decision to quit your day job and work from home full time. Most successful freelancers and business owners start out part time, making money from home after hours and on weekends. Don’t make the critical mistake of quitting your day job until you are ready. How will you know when it’s time? There are two ways to tell. First, you are making more money from home than you are at your regular job and second, you are suffering from severe sleep deprivation and will most likely drop dead if something doesn’t happen soon!
Some of the things we encounter when we make the decision to work from home are not easily foreseen, but can become real issues later on. Here are a few to consider:
How important is the social aspect of your current job? Some people cultivate important friendships in the regular work environment and making money from home, although lucrative, can be a lonely business. Make sure you can handle it.
Do you have self-discipline? No one will be looking over your shoulder when you are making money from home. Will you be able to resist the temptation to spend a few hours in front of the television or playing video games? Will you be able to stay out of the refrigerator?
Do you get discouraged easily? Even with the perfect business plan and a large profit margin, your business may go through dry spells that look hopeless for a while. If you don’t have the ability to ride out the storm, you may not be cut out for working from home.
Making money from home is not for everyone. It’s better to weigh out the pros and cons before making a huge financial investment in something that is destined for failure. After looking at all of the options, if you’ve got what it takes to set up a plan and stick with it, the choice to make the switch to a home business can be the best decision of your life!
About the Author
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