Before you build an at home based business, many would be entrepreneurs think that  holding onto a day job, at least until you are convinced your new venture is profitable enough to replace the job, is most likely a sound choice! 

After sidelined from a mountain biking tumble made it  extremely painful for Nick Miller to continue riding his bike, the Colorado native found that riding a recumbent-style bike allowed him get back in the saddle. When he looked into buying  this unusual  style of bicycle mobility and his normal bicycle dealer didn’t have any desire in selling these types of bicycles, Miller, 46, decided to become a part-time home based small business owner. “I saw a chance to earn extra money from home,” he says, “and began researching.” 

Today, Miller still works full time, but he can also say that he owns a work from home company as well, selling bicycles to Colorado locals and to customers globally  online. Distributing bikes gives him something to do when not working his job besides ride, he says. It’s also starting to turn a profit: Miller brought in 2009 sales of about $119,000, “netting” $23000. “I’m finally getting past break-even,” Miller says of his part-time top home business  concern.

There may be almost as many part-time entrepreneurs  working a job full-time as those whose home based small business is their full-time job. As a matter of fact, a recent governmental analysis of business entrepreneurs  demonstrated that nearly 9.6 million of the more than 20.5 million business owners queried didn’t consider their company their first source of income. Even among the roughly 5.6 million businesses that employed people, nearly 1.6 million said their  company wasn’t their first and only source of income.

Top home based business  people have good reason for keeping their day job and running their enterprises part-time, experts say. For many entrepreneurs, and considering the tough economy we’re in, starting a part-time  company gives them a safety net. Part-time businesses by full-time employees may also provide a source of additional money when future pay raises, at least over the near term, are going to be difficult to obtain.

Running a  enterprise while still employed can also make good business sense. An professional with a full-time job to fall back on is under less stress to quickly make a new business profitable. It also gives you the opportunity to make a few mistakes and not have that mean the end of your top home business.

Part-time  enterprises can also be simpler to begin because they usually require less funding and the owner can raise the required funds by accessing earnings from a full-time job. And, given the financial environment  today, it’s going to be difficult to find the funds to start a full-time home based enterprise.

Before you run out to start a part-time company, consider the potential downsides. Perhaps the worst would be if your part-time  company interferes with your  employment situation. You can’t working long hours at both without some risk! If the time and energy you’re devoting to the at home based business results in poor attendance or afflicted performance at your place of employment, you could lose your job.

Some part-time entrepreneurs find the best way to manage the possibility of interference is to get a different job. If there is no “wiggle room” at your present job situation, you may want to move into a job that will give you a little more “leeway”.

If you’re concerned that your  company might pose a problem, it is a good idea to confer with your company’s HR department. You may have signed a non-compete contract as a status of employment that may influence what kind of company you  launch. Unless you plan to go into business in competition with your employer, you will find that few companies have solid prohibitions against sideline ventures.

Perhaps the biggest problem with a part-time home based small business is that it’s hard for them to achieve their potential when they only receive an entrepreneur’s part-time devotion and work. Keeping your “head to the grindstone” can be a challenge while not being able to focus full-time on your work from home company!

And what if your business doesn’t do as well as you hoped? Be cautious of committing too much risk capital  or you could find that you are in over your head real fast. Taking out a loan to finance your initial  stock for example, may be tough to maintain if your business grows more slowly than you thought. This could force you to make bad decisions like under-funding marketing at the level necessary to help your  business grow as fast as desired.

The bottom line: Make sure you carefully research your niche to find out the anticipated demand. You also need to fully analyze your marketing requirements and cost of sales when deciding how to fund your venture. If you borrow only enough to cover one part of the equation, you may have a venture full of product but nobody knows about it but you.

For Miller, his part-time business provides just about the right mix of income and interest to keep him happy satisfied. But he still wants to keep growing. With a full-time job to cover the bills, the future of his top home based business all depends on him. “I have total control over it,” he says. “As much effort as I put into it, I get that much reward back.”

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Statistics say that most people miss at least one MAJOR opportunity every year. The fact is that if you took advantage of all the opportunities that you have missed, you’d be better off than you are now. 

Laying the right foundation to launch an at home based business is one of those opportunities!

Our North Star At Home Business Success System will change your life TODAY! Click Here — RIGHT NOW — to “ROCK” Your New Top Home Based Business!  We’ll show you how!

 

 

 

 

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