What are Your Reasons for Setting up a Home Business?

by Waller Jamison

Imagine being able to set up your own business, perhaps in your spare time, and after a few years creating a residual income, which would pay for all those extra items you can't quite afford.

You might even reach the stage where you can fire your boss or you could end up moving abroad and working on the beach, a scenario which many people dream about and a few actually achieve.

 Many people want to set up a home-based business, but it takes hard work, persistence and a willingness to wait for results. If you are thinking about starting up on your own, make sure you write a list of your reasons for doing so. When the going gets tough you can go back to your list to remind yourself of why you're doing it and to reactivate your motivation.

Here are some good reasons for going it alone. Add your own to the list.

Perhaps you want to make a lot more money than you earn now.

These days, more of us are finding we have to work long hours to keep the boss happy. And if we try to leave on time, we are accused of clockwatching - and we know there are plenty of people who will be only to happy to step into our shoes.

But is it worth busting a gut, just to put extra money in someone else's pocket? If we're honest, most of us dream of financial freedom and for many, a successful business is the only way we are likely to achieve it.

You want to get a life beyond the office.

Money isn't the only important thing in life and what's the point of earning it if you don't have the chance to enjoy it? Work may play a significant role in our definition of who we are, but it certainly shouldn't be all that we are.

Whilst starting up a business is very time-consuming, the ultimate goal is to create enough recurring income to give ourselves more free time. This is not possible in a job, except for a very fortunate few.

You may well want to stop commuting for hours every week Is a two hour train journey, followed by a ride on the bus part of your daily routine? Bad enough first thing in the morning, but then you have to repeat the process after a busy day, when you just want to get home and have a long soak in the bath.

This is stressful at the best of times, but add traffic jams, overcrowded trains and bad weather and this is enough to exhaust anyone before they have even started work.

You may also want a more flexible lifestyle.

Being forced to work from 9-5 from Monday to Friday is not pleasant and also not always convenient.Many of us would prefer to have the freedom to decide our own working hours, enabling us to fit in many other activities which we'd otherwise miss - watching the kids perform in the school play or concert, taking part in a sport or other hobby, spending time with friends and relatives who are in town on

You want to cut down on childcare costs many families with young children, both parents are obliged to work in order to make ends meet, but often find that one of their salaries is almost completely swallowed up by childcare costs.

If one partner is working online, hours can be fitted around those of the partner working outside the home, eliminating or at least reducing the need for paid childcare.

You want to something you really enjoy.

Let's be honest - how many of us really enjoy working for someone else? And even if the job represents a great opportunity to learn new skills and experience new activities, the excitement doesn't often last and it's all too easy to get bogged down in paperwork, boring routine tasks and office politics.

Of course, setting up your own business usually means that you have to do all the menial jobs yourself, but the day will come when you can hire someone else to do them! The final reason is really a combination of the above:

You want to take control of your life.

As your business grows, you'll find you have the power to make more decisions about how you live your life - where you live, when you take holidays, when you retire, how you spend your free time.

If you are thinking of setting up a business online, decide which reasons are most important to you, then write them in large letters on a piece of paper and stick it where you'll see it every day. That way you won't lose sight of why you want to change your life.

It takes time to get a business off the ground, but if you are persistent, the day will come when all the hard work will start to pay off. Then you'll be glad you didn't give up.