Proven Statistics Why Your Home-Based Business Will Fail!

Some people feel that they have what it takes to become a successful entrepreneur. If you are starting a home-based business then you will want to read this article. Statistically 95% of all home-based businesses will fail within the first year. The reason has nothing to do with the business opportunity. The failure comes from the inability to embrace change.The current economic meltdown has presented a new way of doing business. More and more people are discovering that a home based business or some other type of entrepreneurial adventure is their only option. In my personal opinion I would have to agree. Recent history has proven that large corporations, industrial businesses and stock investments can change in the blink of an eye. For this express reason one has to take matters into their own hands. However, with magnitude of opportunities, which one is the best one for you? Home-based businesses seem to be all the rage but so are “Mom and Pop” start up shops.There are other questions such as, what types of business are you best suited for? Will the business you chose be a good investment? Does it have a proven return? What will a start up company cost me? Which one is more beneficial? These are all legitimate questions and questions that should be considered before you make a decision to control your own destiny. I am no professional on the subject but I can speak from experience. Some say experience is the best teacher and in my case experience has taught me a valuable lesson.The main lesson that life has taught me is that it is important for one to be happy no matter what they do. Someone once said that if you love what you do than you will never work a day in your life.Having your own business has its rewards but it also has its set of problems. The best thing to do is to count the cost. Ask yourself if you want to deal with employees or if you want to maintain a brick and mortar facility. Do you want to deal with payroll or compensation plans? Is spending time with your family important? Most self employed individuals spend more than the traditional 40 hours per week making sure their business efforts succeed. Their weekends are normally pre occupied with paperwork and their social evenings are generally cut short. For this expressed reason many people chose to work from home.Working from home gives you the opportunity to see your children because your work schedule is not set in stone. The cost associated with working from home is also minimal because you have no overhead, no office garments to buy, no lunch to carry etc… Maintaining a home-based business also gives you the almost the same tax write off benefits that a brick and mortar business receives. I am not sure what side of the fence you are on but I like the idea of working from home in my pajamas. My schedule is not fixed because my hours are what I make them. Working from home also allows you to spend more quality time with your family.

Comments are closed.