Job Security and Home based Businesses

Job security has become a rare find these days, regardless of the size of company. A home based business can potentially offer you a way to supplement your income while working a ''steady'' job. If things pick up you may be making enough money to quit your day job and focus exclusively on your business, but until that happens don't quit. The last thing you want is to feel the squeeze of bills piling in with no regular cash flow to stay afloat. This will quickly discourage you and may drive you to quit your HBB prematurely and back into the not so loving arms of another salaried/hourly wage job. Find a balance to work on your HBB part-time and work smart. Efficiency is key because there are only so many hours to get things done and still spend time with family, friends, and take care of other responsibilities. Don't abandon ship if results don't come immediately. That is normal. The best things in life take time to yield solid rewards. Stay the course, weather any storms that will surely come your way, and most importantly keep your eye on the prize, whatever that may be for you. All the best! G

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Wow! That is some list. There are some things in there even I had not thought of - thanks!

Obviously there are advantages and disadvantages to every work situation.

Here are some advantages and disadvantages between Being Self-Employed vs Being Employed:

DISADVANTAGES OF BEING EMPLOYED
Boss watching over you
Fixed schedule
Limited opportunity to increase your income
Fixed vacation period
Set office attire
Office gossip
Office politics
Co-worker problems
Company rules to follow
Morning and evening commute
Government gets paid first
No tax advantages-deductions
Follow a set of rules
Limited flexibility for family & personal time
Limited freedom to make decisions
Get paid to do something you don?t love

ADVANTAGES OF BEING EMPLOYED
Predictable income
Sick leave pay
Fixed earnings
Health insurance
Less responsibilities
Less discipline

ADVANTAGES OF BEING SELF-EMPLOYED
No boss
Flexible hours
Unlimited opportunity to increase your income
Free vacation period
Free work attire
No office gossip
No office politics
No co-worker problems
No rules to follow
No morning and evening commute
You get paid first
Many tax advantages-deductions
No rules
Total flexibility for family & personal time
Total freedom to make decisions
Get paid to do something you love

DISADVANTAGES OF BEING SELF-EMPLOYED
Unpredictable income (is up to you)
No sick leave pay
Uncertain earnings
No health insurance
More responsibilities
Need self-discipline and be a self-starter

The important thing is to adopt the one where we can excel the most according to our desires, skills, and personality.

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