Networking a Home Based Business

It’s amazing what can be accomplished when two people plough together with the same goal in mind: networking a home business.

A quote from the Holy Bible tells us…

“If one can put a thousand to flight, two can put ten thousand to flight; and a triple-braided cord cannot be broken.” Voila! Networking a home base business was born.

In more recent times - some 50 years ago - a company called Amway seems to have captured the essence of this Biblical principle found in Deuteronomy 32: 30. Amway is one of the most successful names in networking a home based business.

The passage of the Scripture has not only been adopted by the iconic home based business leader, but it has also served to build other network home based businesses in the wake of the luminous giant.

Shining above the rest is a group of people who work together sharing the same purpose. Ultimately, together they accomplish more than one person who shoulders a burden alone. And to work alone at times can be a thankless chore.

Individuals who work alone for linear wages (money earned from hourly employment) generally earn enough money to pay the bills. Some folks call it running in the same spot: Trapped in the day-to-day chores of putting food on the table. You got to eat to live. By the sweat of your brow, you eat your bread.

It can be said that a bread winner who conducts a business from home could be classified as a ‘home based business owner’. But there is a difference between a self-employed person who works from home, and a network marketer who runs a home based business. As mentioned earlier, one person works for linear wages, while the other generally utilizes the skills and services of other like-minded people. Together they work tirelessly to create never-ending streams of residual income; the sweet money.

Money to a self-employed worker is just as sweet as residual income is to a network marketer. Self employed persons generally labor out of a personal need for accuracy and perfection. They maintain a mindset that says “If you want it done right, you’ve got to do it yourself.” Be that as it may, time and financial freedom are least on their agendas. They often work longer hours, and face more difficult tasks than if they worked for a large corporation. Granted the monetary pay-off might be somewhat higher in the long run. Those who are self-employed chose to work from home because of the savings that are involved, the flexibility of setting their own hours, and tax benefits.

However, not all home based businesses are equal. A person who works from home and faces the full brunt of responsibilities has placed him or herself in an exclusive job. Whereas, a person who makes a profit by scheduling the duties of others while operating from home, is running a true home based business.

Home based businesses have been in existance since the primitive age of bartering, when items were exchanged for goods and services. For example chickens were given for beans.

In modern times we use money. Instruments of cash have made it simpler for the purpose of trading. Instead of lugging around the globe with tons of gold and silver, we use paper currency or plastic credit cards. Whether you work in a virtual home based business or a brick and mortar environment, making a profit is the main focus.

But why have these home based businesses recently come to the forefront of attention? In today’s economic climes, millions of searches are being made on every internet search engine known to mankind – Google, Yahoo, MSN and so on. Surfers are seeking bona fide home based businesses. The reason for this apparent surge may be due to current worldwide economy.

With the recent economic downturn (the instability and unrest in the marketplace; high unemployment figures; dwindling 401K retirement accounts etcetera) people everywhere are looking for ways to protect themselves and their families from financial disaster. The downturn has become an epidemic of global proportions. And on the surface it appears the real answer will be found in ownership of a home based business.

But will a home based business provide the lasting answers? The answers to this question can be as numerous as there are people.

A large percentage of the populace still seems to cling to the old entitlement mentality. They are fully convinced that the government will take care of them during the twilight years of retirement. They continue to believe deep down that the world owes them a living. But these are a dreams of a darker shade; inevitable nightmares.

“You’ve got to have a dream” is a line from the old movie - South Pacific. Quite often, dreams take quite a bit of elbow grease to bring them to fruition. Except you are prepared to put forth the necessary effort to bring forth the required results, the project is doomed for failure. No matter how excited you were at the inception of the idea of owning a home based business, those emotions will not remain the everlasting impetus to continue growing your home based business.

But don’t get me wrong. I am not against owning a home based business. I am a home based business owner myself. And I can testify it is hard work. I put in a lot of elbow grease on a daily basis.

You've got to work at building your business everyday. The reason for failure in most home based businesses is due to the expectation of instant results – microwave results. Some people have guaged their expectations on what they heard or read of someone who make $50k a week. They expect money to literally fall into their laps out of thin air.

So ‘Why a Home Based Business’?

There are tremendous tax advantages in owning a home based business. Among them is time freedom, and a chance to earn residual income – like royalties. But Uncle Sam is not as kind as he used to be. He wants to know that you are running a bona fide business and not a hobby masquerading as a business. He needs to see accurate documentation. He needs to see the usual paraphernalia that goes along with business ownership: Papers of Incorporation; A Mission Statement; Company Vision; Projections, and accurate bookkeeping.

Lastly, you must consider what you are going to do with all the extra income. The answer to this would be to invest it.

I’ll tell you more about this at a later date.

http://allanrussell.com