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When someone asks me whether he/she should start a business, or when is the best time to start a business, I always tell him/her that it’s today.
The reason is that yesterday is already gone. Tomorrow isn’t here yet. All you have is today. The sooner you get started, the sooner you will start making money.
Too many want to start a business because they have bills to pay, and they see starting a business as a way to make a fast buck. Nothing is further from the truth. Yes, there are ways to make a fast buck online. If you want to quit your job and have the economic and financial freedom to live your life the way you want, starting a business is a long term investment.
Although there are many reasons to start a business, and there are many reasons to start a business now, here are five I consider essential:
1. Businesses can be just as successful during economic downturns as economic upturns.
The economy isn’t like history. History is linear, which means it travels in a line. It might repeat itself in some way, but the players involved are always different.
The economy is circular. It goes up, or down, but it always travels in a circle. With every economic downturn, there will always be an upturn eventually because the economy changes.
The secret to surviving an economic downturn is to market more. The more you market, the more you put your products and services in front of consumers. The more targeted your prospects, and the more they are exposed to your products, the more likely they are to buy.
2. With the Internet, it’s very cheap to get started in business.
You don’t need a whole lot to start a business online: a computer and an internet connection. If you decide to build a website, you’ll need a domain and web hosting. Since there are so many ways to promote your business for free, you don’t need a marketing budget, just a little time to promote.
3. You don’t need to be an MBA to get started.
Someone once said that all you have to do is read three books on a topic to become an expert. Now I’m not sure how true that is, but reading about online business is a great way to get started. There are tons of articles, free ebooks, and other resources available on the internet.
The secret here to finding the best information though is to narrow your search. Be very specific when searching so you find the right information. Also, there are plenty of free ebook directories. Search through those and find a few free ebooks to help you get started.
To get the best information, you’ll have to pay for it. However, if you did your homework, you’ll find that many product owners give away free information to expose you to what they offer. This will help you decide who offers the best information to solve your problem.
4. A business will provide you with additional income as well as tax advantages.
There are many deductions you may take as a small business owner that are not available to the average tax payer. Supplies, office space, and utilities are just some examples.
To find out what deductions are available to you, as well as how to keep your business books, check with the tax authorities in your country. For those in the United States, the IRS offers plenty of resources to keep you from going afoul of the law.
Even for those who love their day jobs, an extra $300 to $500 a month may mean the difference between living pay check to pay check and living comfortably.
5. For those who are retired, a part time business is an excellent way to provide additional money during retirement.
Retirement is a 20th century invention. Before its “invention,” people worked until they died. Just because you are retired doesn’t mean you shouldn’t work. Maybe you want to take all of that knowledge you’ve accumulated over a lifetime and turn it into a book or some other type of product.
With many retirement plans, including Social Security, going bankrupt, it’s a good idea to have a backup plan. It also means you have a choice whether or not you will live on a shoestring or live comfortably. The side benefit is that purposeful, meaningful work will keep you challenged, and it may even help you stave off old age.
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Jinger Jarrett is the author of “Internet Marketing to GO! Cashing in on Online Business,” available on Amazon.
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One Comment
I wanted your expert opinion on a new product I just saw announced: http://www.wrapmaillite.com
WrapMail gives you an email address @wrapmail.com (first come first served) and a wrap already designed for your MLM that you can personalize with your image and contact information. When you sign up you type in your link to your website so when people receive your email wrapped and click on it they will go directly to your site. You will get an immediate alert via email every time someone clicks on your wrap so you know who they are.