Start a Home Based Business But Don’t Quit Your Job Yet
I know you’re excited about your new home based business. I know you have big dreams and goals and the vision of what’s now possible for your life has been opened and expanded.
Don’t quit your job just yet.
It’s temping to tell the boss you’re done and head home to start doing the things necessary to create the life you want through home business entrepreneurship but it’s important to be responsible in this decision.
- You still have bills to pay.
- You may have some start up costs for your home based business.
- Other may be relying upon you for financial support.
- It’s not worth the stress
So when is a good time to quit your job?
My recommendation is that you build your business to where you have solid replacement income and then a year’s worth of income in your savings account.
This way, you’ve got a back up in case anything goes wrong with your home based business.
If you’re a home based business owner where you are an affiliate for a network marketing, MLM or direct sales company, you have to understand that you don’t own THAT business. You are a paid affiliate aka distributor aka representative. You sign an agreement with the company you select to do business with and they will pay you a commission when you sell their product(s).
What would happen if they changed the compensation plan, the product line, or in some cases, move away from an affiliate program?
You want to make sure you are stable in your income and your skills.
Having a years worth of backup income tells me that you know how to successfully great income through a home based business and if something should go sideways, you can select a different company to rep for and be back on your feet in no time.
Do this and you’ll sleep well my friend.
There are many great home based business options for you to consider as some of the best products on the market are offered through this marketing style. Consider the products, commissions paid and long term leverage with residual income along with the stability and reputation of the company.
All The Best,
PS: I have a home based business in my portfolio and if you’d like to know more about that, just reach out and we’ll chat.