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Home Based Business - Why Starting Part-Time is the Smart way to

Article:

With the development of various technologies and with low start

up costs it has become much easier today for Entrepreneurs to

start a Home Based Business. It is estimated that in USA alone

there are over 40 million Home Based Businesses. Home Based

Businesses represent 63% of all Small Businesses. Furthermore

over 75% of these businesses are operated on a part-time basis.

Some of the reasons generally attributed for starting a Home

Based Business are; the fulfillment of a dream, the necessity

for an additional income or to have a back up income in the

event of losing the present secure job. A reason that is more

universal is that most people love to own and run a Home Based

Business and would like to experience the thrill and excitement

of operating a business from home either full- time or

part-time. The majority of those who come under the last

category are often under the misconception that it needs very

little effort to operate a Business From Home

If you have an idea of starting a Home Based Business it is

advisable that you should start by running it on a part-time

basis while continuing to work on your full-time job. There are

several very compelling reasons for adopting this part-time

business strategy. I shall enumerate the most important ones

below.

1. In spite of your enthusiasm and determination to succeed in

your Home Based Business, your attempt could end up in failure

for various reasons. In such an event you could always fall back

on your full-time job. Talking about failure can be

disconcerting to some but you have to be prepared for any

eventuality.

2. By starting as a part-time business, your investment both in

finance and time will naturally be small thus minimizing the

risk involved.

3. While in the process of establishing your Home Based

Business, you still have to settle your monthly bills. It is the

full-time job that can help you tide over this situation

especially during the early months of your part-time business.

If you start making profits early in your business then build up

a reserve fund to start your full-time home based business.

4. The very thought of your having a regular full-time job with

a steady income will give you the confidence to take a

reasonable amount of risk in your part-time home based business.

This will not be possible otherwise.

5. The presence of a full-time job means that you will not be

under excess pressure to perform in your pat-time business for

your survival. You can learn business skills, acquire business

knowledge and grow gradually at your own pace.

6. By holding on to your full-time job you can continue to enjoy

the benefits of health insurance, leave and other benefits till

you establish yourself in your part-time business.

7. In the event of sustaining loses in your business during the

first year or two; these could be written off when submitting

your tax returns.

8. It is much easier to obtain bank loans, credit card

facilities and other financial benefits for your business while

you are in employment. Why not take advantage of this and grow

your home based business while you are in employment.

9. If your intention is to become a home based business

entrepreneur one day, then make use of your full-time job and

lay the foundation for your home based business by making the

necessary contacts with people who could be useful to your

future business and could also end up as customers. You should

of course ensure that your actions do not come in conflict with

the Management policies of your employer.

10. Quitting your full-time job one day and starting a full-time

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home based business the following day could end up in chaos and

disaster unless you have very strong support from experienced

entrepreneurs. On the other hand if done gradually transition

from full time job to full time home based business becomes much

easier.

Having said the above, it has to be mentioned that there are

ofcource certain disadvantages in the method indicated. Doing a

full-time job and running a part-time home based business can be

strenuous and you can experience burnout and consequently

neglect either you business, job or even both. Excessive

indulgence in your part-time business can eventually lead to

under performing in your full-time job, thereby creating

problems with your Boss or Employer. You will have to sacrifice

much of your precious family time for the sake of your home

based business.

Success in your home based business or for that matter in any

business does not come easily. It requires hard work, sacrifice,

dedication and determination. Above all you have to be

passionate about what you are doing.

Many great businesses have grown from small beginnings including

the Giant Amazon.com. Start sowing the seeds of your home based

business while you are in employment, watch it germinate, look

after it with tender care, be passionate about it and watch it

bearing the fruits of your labor. Enjoy the fruits of your labor

and when the time is ripe, quit your full time job. That's it,

keep growing and establish yourself as a successful home based

business entrepreneur. This then is the Smart way to Success.

About the author:

Copyright © 2005 Kanaga Siva. Kanaga Siva has a wealth of

experience in running a Home Based Business. He now operates his

Internet Marketing Business. Visit his Free Home Based

Business website for Articles, Resources, and Ideas to start

a Home Based Business and for other recommended Programs.