What are the Chances of Failure?

Before you start any kind of business you’re probably going to think about what the odds are that your business is going to be successful. Nobody wants to invest time and money into a business if it’s just going to fail. So when I talk to people about starting their own home based business often the first question that they ask is. What are the chances of me failing and not making any money at all? Or even worse, what are the chances of me losing money in a home based business?

I can tell you from personal experience that the rate of failure in a home based business is about the same as the failure of a traditional brick and mortar business. The main difference is that since the cost to get started in a home based business is much much less than a traditional business… A) more people get stared in some sort of home based business vs. a traditional business and B) people are generally far less invested in a home based business and therefore don’t take it as seriously as they need to to succeed.

Let’s talk about B for a second. I firmly believe that the low cost of start up in a home based business is the biggest blessing and curse there is. It’s great because people who don’t have a lot of money to invest in a business can start their own working business for less than $1000 (usually) and it gives almost anyone the chance to make something of themselves. It’s bad for that very same reason. People tend to work less hard and take the business less seriously because it was so cheap and easy to get started in.

Out of all the people who want to work from home. The people who are successful are the people who treat their home based business like a REAL business (because that is exactly what it is) and the people who fail are the ones who treat it like a hobby or a little get rich quick scheme. (which it defiantly is NOT!)

So if you are willing to take your home based business seriously, and work it just like you would a real or “traditional” business your chances of failure are very, very slim. 

How To Make Money Part Time From Home While Still Keeping Your Full Time Job

There are a lot of articles out there promoting the idea of quitting your full time job and working from home full time. However, I know that there are a lot of people out there who really don’t want to quit their job they just need a little bit (or a lot) of extra money to make life easier.

If you’re in a career that you love but it’s not giving you the lifestyle that you want a home based business can still be right for you. You don’t have to be someone who hates their job and wants to quit. Anyone can be successful working part time from home no matter what your motives or desired end result is.

The main thing you will need to do is find a business that only has to be worked a few hours a week. Many home based businesses require 20, 30, or even 40 hours a week of work and if you’re already working full time that is just not going to work. However, a lot of home based businesses will work with you even if you only have 7-10 hours a week to invest. So make sure that that is one of the first questions you ask someone when you’re talking to them about a possible business.

Network marketing is a great type of business for someone who works full time already because it doesn’t require a huge time commitment and a lot of the work has already been done for you. It’s mostly about getting the word out about the business, marketing and a little bit of training.

If you want to start your own business from scratch you can do that too but it will require more time in the beginning and it will defiantly require more money up front to start.

Whatever you decide to do just know that it is possible to make good money from home part time even if you still want to keep your full time job.