Don’t wait until you are unemployed or disabled, start a business today!
Most people never consider starting a business when they are employed, but if they are unable to keep their current job for any reason then they consider to start a business. But this is not really a good idea, read below to know why:
* No paycheck, no funding money- This is obvious, starting a business (any business, even a network marketing or home based business) requires some money investment. The little money that you may have from unemployment insurance, savings, or any allowances is needed to pay the bills, so it’s not a good idea to use that money to fund your business.
You will need to buy marketing supplies, brochures, business cards, samples, maybe even purchase a start-up kit and even if you want to keep it as “minimum” investment as you can, there is no question that you will need to put some money into your new business.
Also, if your business idea requires significant investment and you need a loan, it’s not going to be easy if you are unemployed or in a reduced hours schedule.
* Limited time to generate income – With no paycheck coming in, you’ll be pressured and anxious to generate an income and the reality is that it will take some time for you to generate an income from your home based or network marketing business (actually, this is true for ANY business).
This could make you want to quit altogether when you realize that your new business requires some time before it can replace your paycheck or at least bring a significant income.
* Narrow circle of influence - When you are employed you are in contact with many people, those that work in your office, department and building, also customers, clients, suppliers, service providers, etc.
Once you are not working, your network is reduced to just your neighbors, family, friends, fellow church members and/or school.
Based on the previous, it is best to start your home based or network marketing business while you are employed. You don’t need to invest 40 hours a week into your business, you can start part-time, investing some time at night and on the weekends.
If you manage your time wisely an are persistent, you can grow your business by moonlighting, just be careful that you:
* don’t breach any non-compete agreements
* don’t steal any of your employers customers
* don’t use your business hours to conduct your personal business
* don’t use your employers resources for your business’ benefit
About Mariangie - She lives in Puerto Rico where she works full time as an Agronomist, owns a home based business since 2004 and is the proud mother of 2 bright kids (and 2 cute cats).
Filed under Home Business, MLM/Network Marketing
Great post. I think it’s time for people to look into starting some form of business, ideally a home business. Jobs are not gauranteed, not in this time of recession.