Out of all employees in the United States, approximately 30% are actively engaged with their jobs, whilst 70% are uningaged. With 51% at a mere level of disinterest and little passion for their job positions, about 29% are actively disengaged. These number fluctuate only very slightly year to year and have been about the same since the 1950. why have an online business
It Offers the Kind of Freedom You Don’t Get in Employment
Everybody has those days when they do not want to get out of bed, even entrepreneurs, who love what they do and is a reason to get up. We have those days. However, our income depends on getting out there whatever the weather and making our way though the morning and into our job positions on time and fully ready to go.
In most employment, we do face time. We have to be actively present in order to do our job duties. As an everyday routine, this gets old, especially if you find yourself in the group of unengaged or disengaged workers. Even if you are engaged in yours, it’s likely you still have your days.
Working from home doing something you’re passionate about holds far mor meaning to you than wages earnt for your time. You can also skip the commute. As it is often said, your commute is about three seconds long – from you r bedroom to your home office!
You Are Your Own Boss. You Call the Shots.
With discipline in mind, you start your day when you feel it’s the right time. You don’t get called out for being a minute or two off on getting on the job, for clocking in late and even simply being in your work area and poised at the exact dot. An online business of your own takes you off someone else’s hook and being responsible as you are, you will get the job done in your home office.
Outside of making sure you are efficient in how you do your work and that you’ve taken steps to be productive, not just busy (like often happens in employment) you carry out your day the way you see fit. Nobody tells you how you perform. That’s your job and you know your success depends on how well you do. However, nobody is going to put any black marks against you for not doing something precisely according to company policy.
You Are At the Helm of Your Income, Not Someone Over You.
One of the greatest threats of being employed, unless you are a key employee that would be a disaster to the company if you were to leave, is loss of income. You can lose your home, family and everything you own, including your dignity becaue the company you are working for suddenly decides that you are not going to work for them any longer. You may get a severence pay and if you are lucky, you are given an advence warning.
Not everyone is fortunate to get such a warning. If you were to be one of those right now, how would you fare? Are you ready? Companies do what they do because it’s a business decision or your superiors are dissatisfied with you, your work or even how you look, walk or breathe.
The At-Will set of rules that have been in place since the 19th century provides protection for th eemployer and employee alike. You can’t be made to stay in a place of employment against your will. There are no legislation that tells the employer it must keep you employed, even if it decides to terminate you for no reason at all!
Who’s controlling your income? Who is at the switch? Certainly not you!
It Allows You to Make as Much Income as You Can
Contractual labour or simply employment income is generally paid in wages, most commonly a dollar amount per hour. Another common arrangement often available to all but the lowest job positions are salaries. These are a fixed amount of income per pay period based on a yearly quoted pay-out. The salary pay is broken down, usually month-to-month, but any pay period can apply. There’s also a base pay in wages plus gratuity. This is usually restaurant servers and similar job positions.
Outside of positions offering gratuity pay (tips) employment wages and salaries are limited. There is a ceiling on how much you get paid to do the work and any increases depend on pay raises and bonuses.
How much you earn from your business on the other hand, is limited only by your experience, creativity and innovation. It is also limited by demand. Find the right business to get into and using your talents, $10s of thousands earnt in a month is not inconcievable and very possible. Hoever, it takes time in any reputable business to build up that kind of income. It takes hard work, trial and error, and lots of patience. All giant corporations started from an idea.
The point here is, where employment income is very limited, business income is not.
You Can Go Wherever You Like With It.
Some of this was already touched upon above so I will put a short list here. A home-based online business…
- doesn’t control, even parts of your time that you have off, to be at the jobsite on time
- doesn’t have anyone looking over your shoulder to make sure you’re doing the job according to policy.
- doesn’t require you to get out into rush-hour traffic (unless you want to.)
- doesn’t throw your income switch to the off position because it’s a business deciesion.
Though this doesn’t mean you are free from routine and a structured day when it comes to an online business, it does give you the option to set up your structured routine to suit you and your business. What you don’t have, are the restrictions of having to show up at a place of employment according to a schedule someone else has set up for you. You can do your work wherever you feel the most comfortable.
You Can Customize Your Business According to Your Passions and Interests
Having an online business allows you the kind of freedom to choose whatever you would like to do. You can literally go anywhere you want and choose anything you would like to do in the online world. The supply vs demand in the online world is much better than what you find in the employment world, where the pickings are much slimmer and you often take what’s available to be able to earn a living.
In spite of this vast resource, you must use care and research whatever opportunities you find to get into. These are not always legitimate and you can easily get scammed if you don’t know what you are doing. I will be discussing this scenario in upcoming segments.
You Can Literally Go Anywhere There’s Internet Access.
Physically, you can go anywhere you would like to work your business. You are not restricted to your home or office, or wherever you initially set up base. This is yet another thing that makes an online business so versatile.
Do you need to visit relatives for an extended period of time? Do you have other business or plan a vacation? Take a laptop with you or log into your business platform (whatever that may be) from wherever you are!
Internet Marketing Is Highly Cost-Effective
Compared to operating a traditional off-line business, an online business is generally far cheaper to to develop and operate.
Business Start-up Comes with a Minimal Cost
The traditional off-line business comes with the costs of a physical location, a building or suite, either a rental or purchase of real estate where your business will be housed. It is true that you may be able to have your business out of your home garage or a room in your house, but this depends on the zoning laws in your location. It also takes much longer to establish a business at a physical location because of the things that need to be done before startup..
There are a number of Internet-based businesses require little more than a corner of a room in your home and does not require any special license to operate. For example, an eBay business, MLM, drop-shipping or affiliate marketing can be done simply with a computer, and Internet connection and a desk with minimal office supplies to get the job done. Businesses like these do not require any sort of licensing or approval by government at any level.
Business Overhead is Very Low
If you were able to get an offline business going, depending on what kind it is, you could be paying through the nose in overhead – upkeep of the physical plant however small it is, needed equipment, utilities and other costs.
Again, the only overhead you may have with an online business would be the upkeep and purchases of computers and peripherals, Internet service (ISP) and, if the business requires a website, domain registration and web hosting. You may have other costs invoved, such as training and business services that you might need.
These costs are a fraction of what it would cost to run and maintain a conventional business.
An Internet Business Works Like Any Brick-and-Mortar Counterpart in Taxes
However, when it comes to taxes, there is little distinction between an offline and an online business. What you pay in taxes depends on what kind of entity you get for it, if any. When your business becomes substantial, you should consider an entity, such as an LLC or the type of corporation that suits you best. This does come at a yearly cost but you do have options as to where you would like the entity based out of (some states allow foreign, that is, out-of-state entities.
This might be the way to go for you since the rates are lower and they provide benefits that may not be available in your state.