Taking the (world best company) Plunge Starting Your Own Business

September 9th, 2008 admin Posted in business |

By pmen48

When I first broke the news to family members that I was about to start my own business, I received , as expected, a few funny looks and the inevitable question - “What are you thinking? What do you know about running a business?”

A very good question, I must admit, what possible motivation could there be for a 55+ year old textile engineer with no business experience to even attempt such a venture? What could possibly be going through my head? Was this a sign of early senility?

In fact, there were several factors that influenced me to take that great leap into the unknown. Some were obvious and in the final analysis proved to be the least important. The final and most important factor was an event that completely turned my world upside down, one totally unexpected and emotionally devastating.

Mad Money to Feed That Travel Itch

My wife and I loved to travel and as the years progressed our desire to go first class did also. I first started out with my home business as only a part-time venture, not too serious about the whole thing but willing to spend a couple hours a week doing what I had to, to earn a little extra cash to enable us to take that yearly trip to which we had become accustomed. I know that this is not unusual everyone has the need for a little extra for some luxurious and otherwise unobtainable item. The cost of just getting by nowadays is somehow getting out of reach for many and luxury items are not on top of the list but just the necessities of life. The rising price of fuel alone has caused many a serious crimp in some lifestyles and if the economy doesn’t rebound soon many others will also begin to feel the pinch of the 21st Century.

Shielding Oneself from Outside Influences - Financial Independence

The 21st Century has proven itself to be a strange new world. Events which take place on the other side of the globe can affect our lives immensely in the matter of weeks or months. No longer are we just competing with the business across the street. Having been in the textile industry for close to 40 years I have seen the devastating effects of competing with the Far East Nations. Factory after factory have shut their doors. Men and women, some with 20+ years experience in the auto industry, are receiving notice that in the matter of months, their jobs will no longer exist. The rising price of crude oil no longer justifies production of the product they make.

What better place to protect yourself from global influences than the Internet where everyone competes on an equal playing field? The resources of some may be greater than yours - at the moment - but with hard work, the right instruction and the desire to succeed your resources can match or even exceed theirs in time. The playing field is equal.

Being My Own Boss - The Chance to Succeed or Fail on My Own

Everyone at some point in time wants to be the master of their own destiny. If I am to fail, let me be the cause of my own demise and not someone in a corporate office, thousands of miles away - the same can be said for success.

The idea of working my own hours from the comfort of my home was always an appealing prospect for me. Probably, in part, this was due to the 2 hour round trip commute I faced everyday just to reach my place of employment. The stress of this daily ritual - driving the expressways in good weather and bad - was certainly beginning to have its effect on me. I often joked that the hardest part of my job was driving back and forth to work - not the time I actually spent in the office.

Everyone enjoys being praised for a job well done. How often has someone else taken the credit for all your efforts for a good job or passed on the blame for a botched up one? I know it is difficult to pat oneself on the back - but do it - it sure feels good !! With my own business I can do that - reward myself for a good job and give myself a good tongue lashing for a mediocre one. I am the boss remember.

Continuing My Learning Experience

Some people I know fear change. I, on the other hand, welcome it. I have always enjoyed learning and doing different things - but where could I find such a business that offers such a challenge? Then I discovered Global Cash Flow Network. The product they offered was truly unique. There was no inventory to keep; no direct selling on my part; only the opportunity provided to become a media placement specialist. The online tutoring, the printed materials supplied, and the personal one-on-one coaching were superb. To this day I still receive bi-weekly calls from my advertising coach to see if I could use any help and to offer new suggestions to help my business. I had at last found something I truly enjoyed doing while continually gaining further knowledge.

Life Changing Event

For many a life changing event could be a marriage, a new baby in the house, retirement or pending retirement, moving to a new city, starting a new career, a divorce or as a tragic loss.

Sitting in the doctor’s office we couldn’t quite believe what our doctor was telling us. Digging in our heels we resolved to fight, but in the end it proved to be a losing battle. The ugly serpent, Cancer, had again reared its ugly head. In four short months my reason for being was gone.

But in those months we talked and talked, probably more so than in the previous 25 years and one of the topics that somehow arose was our fledgling online business. Once just a pleasant pastime, a vehicle for earning us some “mad money”, my business now took on far greater importance. The income earned now would no longer be just for trivial pursuits. So in the end I promised that I would continue it - to make “ends meet” as my wife said.

My wife was certainly wise beyond her years. She knew, as I have come to realize now, that the hours I spent in front of my computer to enhance my business would otherwise have been spent depressed and feeling sorry for myself. The days passed into months and the months into years and somehow I got through it and in the same time my business grew.

A Long Way to Go

Over two years have passed. In that time the bills have been paid; I have been able to semi-retire from “my real job” as my sister puts it and now only work every second week and still have had enough left over to spend a week in Hawaii. By no stretch of the imagination do I consider myself a huge success. I am but a minnow in the ocean but I am growing daily. I still have such a long way to go.

What about you? Do you also feel the need to take the plunge and make needed changes in your life but have no idea where to start? If so, call the number or visit my website listed below for a free consultation - there is no obligation. Life often springs many surprises in our paths, some pleasant and some not. Don’t allow Life to catch you unawares - take action now - it could change your life forever!

Paul Menzie is an author and entrepreneur for Global Cash Flow Networks, a continuing education and business development company showing people how to build business success. Get No Obligation Free Tips and Training at http://takingthefirststep.ca. Find out if you qualify to be trained in having your own business at 1-800-719-8268 extension 17861

Why You Need Extra Insurance For A Home Based Business
By Chris Simpson

If you are going to run a home based business, you need extra insurance-that is, you’ll need insurance that most other people don’t need. It’s more than worth the premiums.

Running a home based business means you are self-employed and therefore you are totally responsible for your financial future. You enjoy all the freedom that comes with this, of course. You can travel on vacation whenever you want. You don’t have a commute except down the hallway from your bedroom to the den, or something like that. You set your own hours.

If you have a great week you can reward yourself by taking off on Friday-nobody can fire you for that! Your dress code is anything you want it to be. You can always be there for your family. You can eat whenever you want. And, hopefully, the greatest reward of all is you are making a substantial amount of money.

But the greater one’s freedom, the greater one’s responsibilities. Nobody can make the hard decisions for you: everything is up to you. If you make a bad guess, you pay the price and have no business pointing your finger; just as if you make a good call you reap all the rewards and get all the glory.

Thus, your home based business is your life’s blood. What would become of you and/or your family should something happen to you to make it so you can’t run your business for a while? What if you are involved in a serious car accident? What if you become extremely ill? What if a thief steals your computer and files one day when you’ve taken the family on vacation? What if there’s a fire that burns down your house and destroys your computer?

All of these tragic scenarios, while unlikely, are possibilities that must be considered.

You need to take a correct assessment of your business’ worth. In the case of a home based business, that probably won’t involve much in the way of equipment. You have a computer and a desk, perhaps a telephone for equipment. You likely don’t have any inventory (unless you’re running an eBay store), and even if you do it’s not going to be a huge amount.

So the business’ worth is going to almost entirely be how much money you make from it. If you’ve had your business for a few years you can look back and assess this. But if you’re starting out, you’ll have to take a guess based on what others running a similar business are making and on the stated income potential from the company (if you are an affiliate marketer).

So once you have that figure, you need to purchase disability insurance and home owner’s insurance in amounts that can cover you should you be out of commission for a while. You also need to have your own health insurance policy that you pay for (I recommend a high-deductible, lower-premium policy that includes a Medical Savings Account).

You should also have sufficient life insurance to replace your business income should you die an untimely death and if you have a family. Consult with a financial advisor to get these numbers right.

Your home based business is your business, your money, your staff of life. Insure it as you do all of your other valuables.

Chris Simpson is dedicated to helping people make money online by finding honest and legitimate work at home and home based business opportunities. Find a legitimate work at home opportunity and learn to make money at home today at: www.HomeNetPro.com

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