Home Based Business: Do You Need A Plan B?

Why would someone consider a home based business?

Unfortunately I see many people in my office who SHOULD have started a home-based business several years ago.  The number of unemployed and underemployed people out there is just staggering.

Folks in their fifties whose companies have folded are now finding it hard to compete in the job market.  Their skills need updating and they’re competing with younger people just coming out of college.  Let’s face it, older people are more expensive to employ.

Here are 3 reasons YOU should consider starting a home based business:

1.  Job insecurity

More and more employers are downsizing, outsourcing and automating.  The days of job security are long past.  What will you do if your company closes?  If your position is eliminated?  If your company hires a supervisor who dislikes you?  If you work for yourself, you have the best employer ever, LOL!  No one can take away your home based business.

2.  Family commitments

I have had the experience of encountering an unexpected family illness.  It can play havoc with your work life!  Many parents would like to work less hours in order to be available for their kids’ activities.  A home based business has the advantage of a flexible schedule.

3.  Hedging against disability

No one can be completely sure that they will be able to work at their job until they are financially ready to retire.  Accidents and illness happen.  Having a home-based business is a way to have a second source of income in case your main source is lost.

A home based business is something you can cram in the corners of your everyday life.  It requires some discipline but you can grow a very healthy business in just a few hours a week.  I work full-time-and-then-some at my medical practice, but still find time to make phone calls to my customers while I’m in the car.  I write for my blog in the evening after the kids are in bed, and on Saturday and Sunday mornings.

The best time to start a home based business was 5 years ago.

The second best time is right now.

Watch for future posts on topics like choosing a company, finding customers, keeping happy customers, building relationships, and others.

Share