Venturing in a homebased business is a serious decision, one that requires careful planning and preparation. Unfortunately, many aspirants dropped out from their day jobs and plunge into business only to find that they’re actually not ready for the challenges.
To their dismay, some new business owners discovered that the costs in managing the business are even more expensive than what they earn. Let’s take a look at the following sample situations:
Example 1:
An image consultant charges $50 per hour for her services. But the costs on transportation expenses, taxes and daily living may prove to be way more that the $50 minimum earnings per day.
Example 2:
A software consultant earns $75 per hour as an employee. He decided to leave his day job and work as a homebased independent software consultant. He soon finds himself juggling costs in order to effectively market his services (enlisting in directories, sending brochures to prospective clients, participating at trade shows, hiring a telemarketer, etc.) When he adds his earnings over his expenses, his costs turned out to be more than his returns.
Continue reading When the Business Costs You More Than You Earn
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