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Having a home-based business has become increasingly more popular over the last few years. When I started working from home in Houston 9 years ago, I had been in Corporate America for more than 15 years. I realized that working for someone else was not going to give me the life of my dreams.
With the economic downturn, home based businesses are attracting diverse groups. Of course, you have those who have lost their jobs and are having difficulty finding new ones. But more and more often we are seeing the professionally discontented look to home-based businesses. I am constantly hearing from people who have a job but they are so overworked, underpaid, and stressed out in that job that they are searching for a Plan B.
We also recently connected with a doctor who has a relatively successful practice that included minor cosmetic procedures. Those procedures are elective and not covered by insurance, so bookings for these procedures have disappeared. These procedures once generated a significant amount of money for his office. He now finds himself trying to replace that revenue to maintain his lifestyle and sees a home-based business as an excellent option to do that.
In a tough economy, job security has disappeared. Gone are the days of working 30 years for the same company and retiring with your gold watch and a decent pension. A home-based business is a wonderful way to work for yourself and chart your own destiny. Working from home for the last 10 years has allowed my wife and me to have time freedom and financial freedom. But all home-based businesses are not created equal so make sure you are diligent and do your research.