Taking Control of your Financial Future!
That is the question to be answered
For years people have been searching various business opportunities in order to find that one unique business opportunity which could provide a decent salary; so that one could fire their boss and leave their current place of employment. The first question you have to ask yourself is, what type of business would you look for? And the second question, where would the office be located? Would you look for a business that would involve purchasing office space outside your home, “brick and mortar?” The phrase brick and mortar refers to a physical building or store. Or would you prefer to have a business that would enable you to run it from the comfort of your home or apartment?
The second question you have to ask is what type of business would you look for? But in order to answer this question, you must have an answer for question number one. And if you are able to obtain an answer to both questions, then you are half-way through the figuring out process and can now move onto planning for the other details.
Brick and Mortar Business
If you decided to start a “brick and mortar” business, you should know that you are going to incur overhead costs for running whatever type of business you chose. Such as utility, telephone, office rental, cable/internet expenses, just to name a few. Sometimes the overhead costs can be very expensive and therefore may not produce much of a profit during the first five years. And even though the first five years may not produce much of a profit, research declares that usually if a business lasts within its first five years, the business will start to produce more profit and continue to run smoothly thereafter. A “brick and mortar” business also has operating costs as well as overhead expenses. The operating costs are what you incur while running your business: such as postage, shipping, material/supply orders, just to name a few.
Home – Online Business
Now if you chose to start a “home-online business” instead of a “brick and mortar business,” you would not have to be concerned about business overhead expenses. That’s because an online business can be run from the comfort of your home or apartment. Therefore you do not incur those type of expenses. My preference is a home-online business. Below is a list of pros for this type of business.
- Earn unlimited income
- Work flexible hours
- Get paid in the future for work you do now
- Work from home
- Spend more time with family and friends
- Access to an Accountant
- Tax Benefits
I hope this content helps. Feel free to leave a comment below. I would love to hear your opinions.
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