5 Reasons To Create An Online Business In Your Spare Time-Now

Introduction

If you are seriously considering starting your own home-based online business, to earn additional income, whether it’s part-time or full-time, there is something you need to understand up-front:

Starting an online business is a serious commitment. This is a real business and, like any new business, it will take time, effort and some money before it starts making money for you.

Having said that, the financial investment to start your own online business will be way below the start-up costs for a traditional “Bricks and Mortar” business.

The bottom line is that many people have aspirations to start their own internet business, but very few take action, and without positive and sustained action, they will not succeed.

The good news is:

– if you stick with it and take ongoing action, the rewards – both financial and lifestyle-wise –  can be very high, and

– the internet has created an infinite number of new opportunities that just 20 years ago would have been the stuff of science fiction.

5 Reasons Why You Should Create an Online Business to Generate Additional Income in Your Spare Time

There are many different scenarios that cause people to be dissatisfied with their day jobs and to seek an additional source of income that might, once they have built that business, even give them the option to give-up their day job altogether, if that’s something the might want to do, and focus on their online business working from home.

Chances are, as you are reading this, one of the following will describe how you currently, or for most of your working life if you are a;ready retired, earned a living to support you and your family:

·        In an executive or managerial role,

·        A white collar specialist such as a banker, financial services specialist (stockbroker, financial                        adviser, insurance specialist), business consultant etc.

·        A highly skilled technically qualified person, such as an Engineer or an architect,

·        A healthcare specialist – doctor, nurse, lab technician etc.

·        An educator – schoolteacher, university or college lecturer, or personal development consultant.

·        A sales professional (a very handy skill if you are thinking about starting your own business), or

·        A small/medium business owner of a “Bricks and Mortar” business who might have realised that                their business is, in reality, a full time job (but much harder and more time consuming).

Or something similar to one of the above (apologies if I missed your specific career, but you hopefully get the point).

So, you might be wondering why I think you should consider an Online Business to Generate Additional Income in Your Spare Time?

Well, based on my research, it is clear that many people who have a day job (ie. working on a salary for an employer) are not completely satisfied and fulfilled by their job. When asked if there is anything about their job they would change, the vast majority of people would have some important aspects they would change if they could.

Here are the 5 most common concerns people have:

1. These days job security has become a thing of the past. Let’s face it companies are always looking to save money and the easiest way of all is downsizing. Or you may have younger ambitious colleagues that would (secretly) love your job

2. Many of you probably already have good jobs with decent pay, but based on my own experience in my career, the number of hours you have to work and the stress that often comes with it can be a high price to pay.You may already have a decent standard of living but you are not building wealth (i.e. assets that earn money for you – either regular income or a future capital gain. Property and stocks and shares can do both). You have probably spent the last 10-20 years in your day job creating wealth for other people. But you feel trapped (I know I did).There seems to be little choice other than to struggle on – otherwise who will pay the mortgage, the kid’s school fees, the annual overseas holidays, the cost of running 2 cars etc

3. You have probably worked for a number of companies during your career, but you are somehow feeling a lack of fulfillment; this may not be your “dream job” and you are starting to feel it’s time for a real change.

4. You would like the financial freedom to live life on your terms and to do your best for your family. To spend more quality time with your family and to be able to work when and where you choose, and you are fed up with working long hours and commuting in rush-hour traffic.So you want a way to earn additional income part-time; and if the business you choose has the potential to earn high profits once established to eventually be able, if you choose, to give up your day job altogether, be your own boss and work full-time on your home-based business.

5. Last and definitely not least; you are over 50, you may have experienced some or all of the above and you are either thinking about your retirement and are concerned about losing your monthly paycheck, or are already retired, and worried that your savings and social security (pension or superannuation) entitlements will not be sufficient to enable you to maintain your quality of life during your retirement years.

This has become much more relevant in recent years as longevity research starts human trials on treatments and medicines that look like they could help to reverse aging and extend healthy lifespan to new, never before seen levels, well beyond the average of 80 years currently reached in many developed nations. The other big concern is whether governments will be able to meet their social security obligations as the number of older people increases because of all the above, plus the baby boomer generation starting to reach retirement age

Some other reasons why people want to start their own home based businesses that I wanted to mention include:

• Their prospects of increasing their income or quality of life in their current job is not high or non-existent,
• They like the money they get but hate their jobs.
• The only way of getting more money is extra overtime or a part-time second job. Both of these will require even more time away from your home and family.

I feel sure that one or a number of the issues above may have resonated with you?     I know that over my working lifetime,  at some stage, I experienced quite a few of them myself – and I suspect that most people do.

But don’t worry. There is another way!

Are you ready to change your life?

So the question is  – are you ready to take action to make your life and your family’s lives better.

If you have answered YES I am ready; do you know how you would like to earn the additional income, or to get your time back so that you can start taking better care of yourself and your family again, and get more freedom in your life?

You need to decide what the answer to this question is for yourself before you can move on. It doesn’t need to be exact at this stage; just enough to enable you to do more detailed research to find one or two specific businesses that might fit the bill.

Whilst you are doing your research you can work on getting your mindset right, because making money online is more about mindset and attitude than on the mechanics of doing it. If your mindset is wrong, your chances of success are really not very high.

Click this link to view my recent article: How to Develop a Growth Mindset

Conclusion

There are many different scenarios that cause people to be dissatisfied with their day jobs and to seek an additional source of income.

Based on my research, it is clear that many people who have a day job (ie. working on a salary for an employer) are not completely satisfied and fulfilled by their job.

The most common concerns people have can be categorised under 5 different, yet closely linked, scenarios.

The good news is:

– if you stick with it and take ongoing action, the rewards – both financial and lifestyle-wise –  can be very high, and

– the internet has created an infinite number of new opportunities that just 20 years ago would have been the stuff of science fiction.

If this sounds likje something youmightme interested in,  get started in your spare time SOON.

You can find some specific ideas here

I hope you have found this brief article helpful?

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