In most cases, people can easily get into trouble or fell into the trap of debt simply because they do not have enough money to handle the unpredictable emergency cases. Maybe they do not have a budget plan, maybe they do not have any saving or emergency fund and spend every dollar that they earn on shopping. So my advice is before it getting too late, you must prepare for it. You can either start saving for the money or start your own part time business that generate more income to you.
How Part-Time Business can protect you financially?
It quite simple, a Part-time business can bring more income to you from time to time. So you will have extra money for….. no shopping please!. But for your saving account. If you have locked every dollar of your paycheck on certain expenses, and you do not have any extra money for your saving account, then start a part-time business is a good deal for you.
Part Time Business VS Part-Time Job
Maybe you say you can always get a part-time job to bring more income to you. But let me show you why you should start a part time business rather than get a part time job:
Tax Advantages : With a business, you can claim a lot of expenses as business expenses and deduct from the tax. For example, your cell phone charges, office supplies, petrol expenses and etc.
Long-Term Benefits : I just want to know how long you can work for money? 10 years? 30 years? Or more? However, if you manage your business and build a system on it, one day, you do not really have to care your business because it can run on itself. At that time, your business income is a long and non-stop income for your life.
Income Potential : Do you agree that a paycheck has limitation? However, a business, in most cases, does not have any limitation. You can grow your business to bring as many incomes as possible to you. You also can start multiple businesses that generate different resources of income to you.
3 Biggest Reasons why People Do not start Their Own Business
Starting a business can be scary for most people because:
Have to leave their steady paycheck/Job
– Well, you do not have to. You can always start a part time business while working for your boss.
Need a lot of Money to start a business
– If you read my post, you will find out that there is a lot of way to start a part-time business at very low cost.
No idea how to start a part-time business
To start your own business, you must get over your fears and step out. Maybe it is hard and tired at starting while you have to keep both your job and also your part-time business. However, when time goes on, your business will grow and eventually it can bring a profit higher than your paycheck. Furthermore, the limit of an income from a business is always greater than your paycheck.
Part-Time Business – Build your own business while remaining as someone’s employee
As I always say, you do not really have to quit your job to start a business. Just leverage on your spare time and start a part-time business while still working for others. This will ensure the security of your regular paycheck to support your life and at the same time you build a business empire for a brighter future.
Simple Guide for Starting Your own Part-Time Business
Before I end up this article, I would like to give some simple steps that you can start now to prepare for your own Part-Time Business.
Step 1 : Find your market
You must know what kind of business you want to run and where is the market. You can always leverage on Internet.
Step 2 : Educated yourself about your business
Maybe you can buy some books or get some books from library and learn all about your business. Well, different business has different tools, skills and terms in it. Spend some time to educate yourself.
Step 3 : Plan Your Business / Business Planning
Another important step! You must have a plan for your business. You must declare clearly where is your market, how you serve the market, who can help you and how you market your business. This plan is for you to read and remind yourself what your business objective is which you may forget easily after some time. You do not have to write this in formal format like business planning that you give to lender or investor. Just write your plan on a book or place where you can read and see easily.
Step 4 : Get ready your tools and start by taking actions
I saw a lot of people who have a great business idea and business plan. However most of them end up with nothing because they never take action. They love to talk, discuss their idea and plan but never take action to run it and test it. If no action is taken, then your business is just 0. So get ready your tools and take action!
My Last Advice
In the way to start your business, you definitely will encounter a lot of problems. Don’t worry, you can pass these problems and eventually succeed. Just move on and you will never walk alone