Timing Issues When Starting Your Home-Based Business

I am frequently asked by individuals looking to start a home-based business, “Is this a good time to get started?” Many are currently employed by major corporations in corporate planning, strategic planning or business development areas. Some are financial planners, independent businessmen, entrepreneurs or business investors who are sensitive to timing entry to markets. They have access to consultants and economic studies to supplement their expertise and assist in their evaluation. After all, “Timing is Everything”, especially in these turbulent times.

Let’s look at some of the current trends underway that could potentially effect timing your entry into a new home-based business:

•           Major US housing collapse could last 5-6 years in some areas

•           Sub-Prime mortgage defaults are threatening US economy

•           Most experts say U.S. is entering a recession, some say stagflation and a few even say depression

•           US and world financial markets are extremely volatile

•           Conventional gas price is back at $3.25 and, many experts say, pausing only long enough to continue it’s upward climb

•           Major US corporations continue to decentralize and dismantle, cutting staff and outsourcing certain activities to independent contractors or overseas. They are breaking promises.

•           Increasing number of professionals and white-collar executives are dissatisfied with their “life”.

•           Many major pension funds have dramatically reduced benefits

•           Traditional “safe” investments are getting hammered by inflation. I don’t care what government posts as CPI. When CD’s are paying <5% and S&P has historically had growth <10%, safe investments aren’t cutting it. They are losing value.

For investors, and those nearing retirement, these trends are unsettling. The retirement nest-egg is shrinking and many baby-boomers are looking for ways to boost their potential retirement incomes. For most, the only way they are ever going to accumulate a significant amount of wealth is through passive income provided by many home-based business models. And, time is running out. So, rather than being a reason to postpone starting a business these trends should really be "the reason" why a person should start their business now.

Then, there are personal timing issues that many people consider, such as waiting for certain circumstances to occur before they get started, like:

•           After the kids get out of school

•           After the kids go back to school

•           As soon as I get my tax refund

•           As soon as I get my bonus

•           As soon as the kids move out

•           As soon as I finish this “project”

While these personal timing issues are valid for some individuals, in most they are simply used as a justified excuse; and, as a well known motivational speaker says, "Excuses are just well planned lies."

Here is something to keep in mind- Real opportunities probably only occur 2-3 times in a person’s lifetime. The business you are considering could be one of your 2 or 3. Are your timing issues a smoke screen caused by fear? If you are serious about making a positive change in your life it takes courage. Courage is taking action in the presence of fear. The best way to overcome fear is to take action. Remember that change does not happen by itself, so if you are waiting for it to happen by itself then you’ve got a long wait. Nothing happens until you take action.

So, the answer to the timing issue is this; the best time to start your new home-based business is RIGHT NOW, while you are thinking about it. Your enthusiasm and energy are at it’s highest. Most businesses fail in their first year not because of timing issues, but because the new business owners did not get off the couch and work their business. If you have found a quality business that you are excited about with a quality product, and with proven support, training and business systems in place…. Then get started right now.

Questions and comments can be addressed to bruce@systemistheanswer.com .