When the Going Gets Tough, Start a Home Based Business

Are you worried about debts, or are you desperately looking for ways to solve your financial problems?

Most Americans are no strangers to financial issues. According to the Federal Reserve Bank's survey on Americans' economic well-being, 31% of American adults, or 76 million people, say they are struggling to get by or just barely making it.

According to statistics from an online source,

30% have less than $1,000 in all bank accounts at any given time.
65% of Americans literally live paycheck to paycheck and have NO household budget.
Fully one-third of Americans admit to having not saved anything at all for retirement.
Fifty percent of Americans have less than one month’s income saved for a rainy day.
You spend 12-18 percent more when you swipe your card than when you use cash.
You can save $112,000 over a lifetime by bringing your lunch to work.
In 2008, US credit card debt reached $972.73 billion. The average credit debt per household was $8,329.

The good news is that you are not hopeless, technology today has opened up different ways to make money from home instead of the traditional 9 -5 jobs. Even better is the fact that you don’t need a degree from a university or college to start up a home business that can quickly take you out of debt and transform your financial life to amazing new heights.

While there are many home-based businesses, you can engage in, the one I personally recommend from my personal experience is starting an e-commerce store. I started an e-commerce store last year and the experience and financial reward have been uplifting.

Data from Statista foresee a 246.15% increase in e-commerce global sales, from $1.3 trillion in 2014 to as much as $4.5 trillion in 2021. That’s almost a threefold boost in online proceeds.

Numbers like that are often difficult to wrap our heads around. They are both stimulating and astonishing.

"Global Retail E-commerce Sales Will Reach $4.5 Trillion by 2021" Wow!

The present colossal opportunities in global e-commerce are too big to ignore. Yes! You can overcome the odds and launch and succeed in your own online home based business today with little capital if you put your mind to it.

According to the 2016 US Department of Commerce, "53% of global internet users have made an online purchase." With more than half of the world’s online population purchasing online, it’s become more important for you to establish an online business to tackle the tough times.

Apart from the fact that opening an e-commerce store requires little financial commitment, you can start your home business venture on a part-time basis, while still working on your 9-5 job. Some of the easiest ways to start an online store with little capital are through drop shipping and print on demand products.

When you start to make an adequate residual income that supports you, leaving your day job will become inevitable. Since starting an e-commerce store with Shopify last year, I have been able to grow my customer base and generate profits worth thousands of dollars.

You can easily sell online from your home with an e-commerce platform. If your business requires you to have a physical location or you need to be able to accept payments on the go or while traveling, consider an e-commerce platform that offers POS capabilities.

According to Inc.com "Shopify hosts over 325,000 active online shops and with its focus on social commerce and mobile shopping, the platform continues to evolve to meet the growing requirements of online stores."

According to Brianna Wills, some major benefits of e-commerce business include:

Ability to offer Product Datasheets
Attracting New Customers with Search Engine Visibility
Decreasing cost of Inventory Management
Ability to Keep Eye on the consumers’ Buying Habit
Selling Products Across the World
Staying open 24*7/365

What Does It Cost To Start An Internet Home Business?

The cash required to start is minimal and unquestionably much less than starting a conventional offline business. The other non-monetary costs will be hard WORK. Be prepared to WORK long hours with no overtime pay, no health benefits or paid vacations, nor any other benefits you may have enjoyed in your previous job.

In addition, you will be working alone and will need to be self-motivated.

On the other hand, some good news is you can spend more quality time with your family, set your own work schedule and do away with commutes in heavy traffic to and from work, A big plus to starting your own online business is the tax breaks you will get from the IRS. Simply for the fact that you will be a legitimate business owner.

If you accept the challenge of a home online business and stick with it through the challenges you will definitely face, the benefits and rewards will be Independence and financial freedom when you start and build your business the proper way.

You can find more detailed information on how to, Set Up an e-commerce Store and Generate Sales From Start to Profit here.

The key to a successful business venture, regardless if it's home-based, a retail store, a technology-related business, is always the same. WORK!

Home-based businesses don't mean that there's less work or less dedication. It means the business can be operated out of your home. The WORK part still is crucial to your success. Just as the corporate world wastes time in endless meetings, small business owners too can fall into patterns that prevent them from doing the essential thing that guarantees success, and that's WORK.

To succeed in your home-based business, acquire needed knowledge, stay focused, develop a schedule and WORK hard for a bright future for your business!

Copied from my post on Thriveglobal.com

https://www.thriveglobal.com/stories/24076-when-the-going-gets-tough-start-a-home-based-business