Lots of people want to start home based businesses. It doesn’t matter whether they’re a stay at home parent or work outside the home. A home business often sounds like the way out of your financial troubles.
Considering all the challenges, why do people put so much faith in having their own business? Do they really understand the risks?
Other People’s Success Stories
Hearing about how other people have succeeded in home businesses is a big reason why so many people want to start their own. It sounds so good! This person started a simple business in their garage and now makes millions. How can you resist?
Another reason people want a home business is for the freedom they believe it gives. Run a successful business at home and you can go on vacation when you want, work the hours you want, have tons of time for your family, the list goes on.
Following Your Passion
Running your own home based business is a great way to do something you love. What is it that you’ve dreamed of doing to earn a living? You can quite possibly do it as a home business.
Is It All True?
Here’s the kicker. Running your own home based business can bring you everything you want. Maybe. If you’re one of the lucky ones.
More likely is that you will work hard for years building your business at home. Maybe you make a living, maybe you don’t. You might even *gasp* fail! As with any other kind of business, more home businesses fail than succeed.
Your typical real home business success story is not a tale of a newly made millionaire. Those home businesses that succeed don’t all make big bucks. Many make just enough for the family to get by. Others run their home business for extra money while continuing to work their day jobs.
And don’t count on extra time for the family. While you can take time off as you please, most people running home businesses find it takes a lot of time to do it right, and there’s the temptation to keep working well beyond the hours that you would have worked a regular job, even with overtime and commuting.
Should You Bother Starting a Home Business?
None of this means you shouldn’t get started if you dream of owning your own business. You should. You won’t succeed if you don’t try.
What you should be doing is taking the chance with your eyes open. Understand what you’re risking. Understand that success most often means long, hard hours of work before you see any payoff. Understand that you are taking a financial risk.
You might succeed wildly. You might fail miserably. You might be somewhere in between. But if you don’t try you will never know.