Becoming an entrepreneur is not easy! In fact, many who elect to enter the world of entrepreneurship work hard to build a business for many years before they are successful. Becoming an entrepreneur takes a lot of hard work, determination, discipline, and a very strong ‘why?’ that solidifies your overall objective for becoming an entrepreneur. Although there is a lot of hard work that goes into becoming an entrepreneur, entrepreneurship definitely has some very strong advantages and all are worth starting your own business.
The Best Of Entrepreneurship
There are many ways to enter the world of entrepreneurship. You could start a traditional style c-corporation, buy a franchise or start a work from home business. Although all three options presented in this article are great options for starting a business, in this article we will be concentrating on the benefits of becoming an entrepreneur through building a work from home business. Why are we concentrating on work from home businesses you may ask, simply because the benefits are far too great!
- Taxes – One of the most often overlooked advantages of becoming an entrepreneur is taxes. Over your lifetime, taxes will be your single largest expense. While there is no way to completely eliminate taxes, by becoming an entrepreneur you can drastically reduce the amount of taxes you pay which means more of your cash in your pocket. By becoming an entrepreneur you can expense things such as computer equipment, mobile phone and internet expenses, car mileage, business travel and even some of your rent, if you have a work from home office, against any profits you may have made during the year. This means Uncle Sam can only tax you on gross profits. These, and many other tax incentives, do not apply to employees.
- Income Potential – How much do you think your time is worth? There are many people out there are working a regular job who are making $10, $15 even $20 per hour. While that may suffice for some, if I was to ask most people what they thought their time was worth, many would definitely disagree over $20 per hour being sufficient. By starting your own work from home business you are breaking away from the world of income caps that restrict you from making more money than what you think your time is worth. In fact, psychologically you are programming yourself to value the worth of your time and not restrict yourself to lower pay. There are many ‘work from home’ entrepreneurship stories of entrepreneurs that have replaced their employee salaries by making in a month or two what they used to make in a year. The bottom line is becoming an entrepreneur allows you to make as much money as you want!
- Business Ideas – One of the reasons so many people fail to enter the world of entrepreneurship is because they either; don’t have business ideas or think their business ideas are not good. The great thing about becoming an entrepreneur in this age is that you really don’t need to have any business ideas; products or services, of your own. In fact, there are thousands of companies who offer work from home opportunities though independent marketing consultants. Starting your own business today is easier than ever before! What’s best is that starting your own business, work from home opportunity, can start off with an investment as low as $300 and over time can turn into an income stream that spits out thousands of dollars per month.
Entrepreneurship. The Way To Go
Becoming an entrepreneur is clearly the way to go for those that want to take advantage of the benefits listed above. There are more than just 3 strong reasons for becoming an entrepreneur and those will be covered in an upcoming article. However, if the benefits listed above are strong enough to intrigue you about the entrepreneurship path, learning more about New Generations Entrepreneurship and New Capitalism is the place to start.