Why You Need a Home-Based Business
How did the Pandemic of 2020 - 2022 affected you? Are you happy with your current financial situation? If not, are you doing something about it? Why not learn more about the best ways you can attain financial freedom? If you don't do anything, nothing changes. Will you be ready for the next pandemic?
About 90% of American workers don’t own their own business (Rick Santorum). And as such, most Americans have a limit on their individual earning efforts. Business owners create wealth by leveraging off the work done by their employees but it can be very difficult because at the end of the day, it’s only the owner who has a vested interest in the business.
See some of the most important advantages of being in a home-based business below:
1. Huge Tax Breaks – If you can prove that you are in a business vs. a hobby, there are many deductions that can far exceed your personal product consumption. This simply means that you are trying to make a profit and you are keeping good records of all expenses incurred. Typical expenses are advertising and promotions, telephone, internet, office supplies, meals, mileage, travel, etc. If you have a separate room in your home that you use exclusively to conduct your business, you can deduct a portion of your gas and electric bills, insurance, and taxes by measuring the square footage to determine what fraction this represents of your whole house or apartment. Once you go full-time in your business, your health insurance can be fully deducted if it is not provided by your spouse’s company. Watch the video Why You Would be Brain Dead Not to Own a Business and Why Joining a Nutrition Company is a Great Idea.
2. Ultra-low Start-up Cost – Members can start their business for as low as $10 per month. No need to keep inventory. In comparison, a franchise's initial expense is typically around $25K to $100K, plus all the other monthly expenses (overhead) in running a business. It’s a no-brainer.
3. Can be started immediately – Anyone who signs up is instantly in the business as soon as the SUBMIT button is clicked. A sole proprietorship or franchise business will need weeks or months to get started to meet all the registrations and other legal requirements, finding a place of business, and hiring and training of staff.
4. Time Freedom – As a business owner, it is all up to you if the business will be a success which is the reason why business owners must be the first person to show up and the last person to leave work. As a network marketer, you can start part-time without giving up your day job. You can set a goal of dedicating 5 hours or 20 hours a week depending on how fast you want to build your team.
5. Flexibility – Because you will have no employees, no inventories, no account payables or receivables, and not on a 9-5 work requirement anymore, you are able to work in your pajamas from anywhere in the world.
6. Leverage – “I’d rather have 1% of 100 people’s efforts than 100% of my own.” – Paul Getty. Enough said.
7. Training – It is important of any network marketing companies to provide training for their distributors. A company’s training library is the best place to get information about the rules, regulations, and company expectations from each associate. These training and materials have been perfected by those who have been with the company from the start. Uplines are always readily available to do in-home or online presentations for any associate.
8. Business Promotion – It’s a new world of social media. Network marketing is not just a simple word of mouth anymore. Social media tools such as FaceBook, Google, Instagram, LinkedIn, Twitter, and and now zoom meetings have made it a whole lot easier to promote businesses online. Personal branding is even possible nowadays.
9. Incentives - Consider the many travel incentives to exotic places when earned by those who treat this opportunity as a business.
10. Passive Residual Income – Our goal is to impact people’s lives by educating and helping them get back to their healthy selves. By doing our best in sharing the knowledge and benefits of the products, true financial freedom is attainable. If you have $1,000,000 in the bank, at 3% interest, you will earn $30,000 passive income. 99.9% of us do not have $1 Million in the bank but by using the leverage of network marketing, we can far exceed the passive income of millionaires.
Disclaimer: For the most accurate tax information, consult with your accountant.