shouldn't work at home might seem a little odd and out-of-place. However, if you read on, I think that you'll agree that there are times when starting a home business may NOT be the best decision.I recently ran across a post on Carl Coddington's PromoInnovations titled A very humbling experience!
To make a long story short, the post is about an unemployed single father of five with no assets who asked Carl for advice on making money online so that he could support his family.
The post reminded me that there are times that it is NOT appropriate to start a home business. Here is a list of some of those times:
1. When your family is relying solely on a paycheck from you to eat.
Why: Even in the best of circumstances if you find a paying opportunity right away, it can take months before you earn enough from your business to completely support and provide for a family.
2. When you have no savings to cushion you through the bad times.
Why: Even successful home businesses have their ups and downs. One month you may earn a lot, the next month you may earn next to nothing. Savings are what will get you through that month in which you earn next to nothing.
3. When you can't afford health insurance for your family.
Why: As a mother of two I can just about guarantee that your kids will get sick or hurt at least once during their childhood. Without insurance even a minor illness can be quite costly. For many people, the only insurance that they have is through their employer.
4. When you are in desperate financial straights.
Why: If you are facing a desperate financial situation (such as a bankrupcty, unemployment, or unexpected debt) you are less likely to be able to think clearly and much more likely to become prey to scam artists who advertise fake work-from-home opportunities.
5. When you have no idea what type of business you want to start.
Why: To succeed in business you need a direction. Without a direction you will stagnate and stumble about, trying various things but never really mastering any of them. And yes, you will be more vulnerable to scam artists.
I know that I'll probably receive e-mail and comments from folks who succeeded despite being in one of the above situations. To those folks all I have to say is that I'm really and truly glad that it worked out for you. I do think that you're the exception and not the rule.
However, if you are one of those who finds yourself in one of the situations listed above my advice is to take a good, hard look at your desire to start a home business.
What about you? Can you think of some other times that it might not be a good idea to start a home business? Leave a comment and let me know.
» When You Should NOT Start a Home Business from Babblz.com
Should you start your own business? Maybe not, according to this blogger. Find out some circumstances when it might be best to think twice about starting your own business. [Read More]
Tracked on: August 18, 2007 8:19 PM | Permalink to Trackback