Some people are skeptical of home-based business, especially if it involves network marketing. But as you will see in this post, there are some great advantages to building your own network marketing business.
The truth is that millions of people have built very successful network marketing businesses – both full-time and part-time – that bring in millions of rands each year.
And not only is their financial outlook more stable; they enjoy more time, flexibility and the satisfaction of successful business ownership.
Below are 5 things you may not know about home-based business that could solidify your financial outlook, increase your opportunities and improve your life.
1. A “Good Job” isn’t always a Good Job.
Most people have one thing in common: the desire for a “good” job. We either want to find one or keep the one we’ve found.
But what happens when a good job isn’t really that good?
“Good” might mean stable or acceptable. It can also simply mean a job you thought you wanted that seemed like a good choice at the time.
Some of us get promoted to a “good” job. Others take it because we need to pay the bills or it is in our “approved” career path.
But how good is a “good” job if it requires you to sacrifice too much of your time for too little financial return?
Many of us would say we have a good job when in reality we have a “J.O.B” as in “Just Over Broke”. Too many of us live perpetually in this condition, where are merely one or two paychecks away from financial failure.
And at what cost?
2. You Don’t have to Sacrifice Your Life to make money.
Too many people feel that the only way to get ahead is to dedicate every spare hour to their job, even an unsatisfying and underpaying one. In short, we’re trading our time for money.
Unfortunately, more time at work doesn’t always mean more money. However, it always means less time for family, friends, hobbies, and vacations.
Do we really have to put off living until retirement?
Going into business for yourself with a home-based network marketing business allows you to earn more money than you might from a typical 9-to-5 job.
Perhaps more importantly, it doesn’t require you to sacrifice your life or postpone living in order to have financial success and long-term security. And you become your own boss, controlling your time and schedule.
3. A Home-Based Business doesn’t have to be a Full-Time Commitment.
Although some people choose to go into business for themselves and leave their jobs completely, others choose Network Marketing as a part-time career.
This allows for the security and employee benefits of traditional employment, while still offering the capability to earn extra cash.
A network marketing home-based business is also a great option for stay at home moms or retired people just looking for supplemental income without a full-time obligation.
Today, tens of thousands of people successfully operate a part-time home business that generates anywhere from a few thousand rands to tens of thousands of income each month.
4. A Home-Based Business can Ease your Tax Burden.
Although employee benefits associated with working for someone else, including your Pension Fund, Medical Aid, and some else handle your tax submissions to SARS may be appealing, in reality, there are far more benefits – especially tax benefits – to being self-employed.
Not only are you your own boss, but you also have far more control over what your taxable income will be because you now have the opportunity to take advantage of business tax deductions.
Here are some of the expenses that can be deducted from your tax liabilities:
- Home Office Expenses.
- Vehicle Costs and Mileage Allowances.
- Retirement and Medical Savings.
- Health Insurance Premiums.
- Business Supplies and Related Costs.
- Travel Expenses,
- Credit Card Interest from Business Purchases.
This deduction together can significantly reduce your overall tax burden
5. You Already Network Every Day!
Some people may be put off by the unconventional nature of a home-based network marketing business. Although others see it as strange, in reality, we all network every day:
- With friends over lunch;
- With co-workers at the office meeting;
- With acquaintances at a party;
- With a stranger at in the line at the grocery store;
- With your Social Media connections; etc.
You could even go as far as saying networking is a part of human nature. You might as well get paid for it.
From what car to buy or health club to use to what brand of jeans we wear or orange juice to drink, networking influences the purchasing decisions we make all the time.
Advertiser and retailers don’t like to acknowledge the power of word-of-mouth in influencing sales, but that doesn’t mean it doesn’t exist, or that it can make you money.
Fortunately, some companies do recognize the power of word-of-mouth advertising and are willing to compensate you generously for recommending their products and service to your circle of influence.