The answer to that question seems pretty obvious to me. I would way rather stay home, and watch The Office, wouldn’t you?
This was my dream. Figure out a way to make money from my own couch so I could stay home with my dogs, watch TV, drink coffee (or wine) and do fun things that I actually wanted to do. Sound familiar?
One thing that I learned running an online business for the past 5 years is that starting an online business is not for everyone. Initially, 5 years ago it was not for me…
Having a Boss Works for Some Personality Types (i.e. Dwight Schrute)
There are different types of people out there and there is no wrong or right – just different.
There’s people who love stability, safety and security.
These people don’t like taking risks so they usually don’t enjoy things like investing, changing careers, trying new things or even participating in risky activities and sports. That’s because risk makes them very anxious – they’ve been displaced from safety and they no longer feel secure.
This class of people usually just like being given clear instructions on what they need to do and then they can follow them to a T. They don’t like being left in the lurch so to speak. They don’t like “figuring things out” as they go.
Usually these types of people love figuring out every single logistical detail before going on a trip for instance.
I like to envision Dwight Schrute. He LOVES doting on Michael and being “second in command”. Even though he’s an excellent sales man, he would never want to strike out on his own.
Then, there’s people who thrive on risk and reward.
These people feel like their stagnating in stable environments. They’re always chasing some new adventure and they like trying different things all the time.
Of course, I’m generalizing. People are extremely complex and there’s a spectrum between these two extremes and then many variations of that. There’s people that yo-yo between the two sides of the spectrum.
When it comes to finances, I’ve found that people will generally veer in one direction or another.
If you thrive in the save work environment of a 9 to 5 job, love your boss, are friends with all of your co-workers and you just light up when you get that deposit every two weeks like clockwork, then you should be wary of trying to start your own business.
But if you’re suffocating being managed by other people, everyone in your office annoys you and your paycheck is just something that you need to survive, then it’s probably time for a change.
I’m assuming if you’re reading this post then you identify more with the latter.
So, You Really Want to Quit Your Job?
I’m going to assume that you don’t have a huge fortune stashed away somewhere from an inheritance.
If you did, you would probably be on some island in the Caribbean with a drink and a tan rather than reading this at your office when you’re supposed to be working…am I right?
Without a good amount of capital to start off with and some great connections to boot, it’s very difficult and extremely risky (like I’m talking even more risky than the risk-takers want to go for) to start up a physical business. Opening a store or a restaurant or even running an “out-of-the-garage” service requires some type of capital. Furthermore, without connections, these types of business can burn out faster than they started.
So what are you supposed to do?
You have a few options:
(1) Work from home job: With COVID-19, technology becoming more and more advanced and everyone becoming more connected online, working from home has probably never been easier. If there was ever a time to try and swing working from home this is it! Whether it’s with your current company or a new company, you could give that a shot.
(2) Start a pre-packaged business: By joining a multi-level marketing company, you can essentially start your own business right away from a pre-packaged “already successful” business model. Whether you join a MLM company like Amway or whether you start a physical franchise like “McDonald’s”, the idea is the same. Generally, to be successful you should plan on investing a LOT of money and even then you aren’t guaranteed success.
(3) Invest in the stock market or in cryptocurrency: The stock market is probably a good thing to get started in now since it’s so low. Pretty much any good company will make you money in the next few years if you’re a long term investor. Crytocurrency is much more volatile and requires more know-how. The stock market will require at least a 10,000$ investment to make any real money. Cryptocurrency requires less money but is extremely volatile in my opinion with no good way to predict which way the market is going to go. It’s pretty much like gambling.
(4) Start your own online “value” business: Lastly, you can start an onilne business. I call this a value business because you won’t be selling your own products but rather you’ll make money by providing information and value to your readers. The up side to this is that you only need to invest…$0. Pretty good compared to the other options, eh?
The Reality of Working from Home…it’s NOT “The Office”
When you start a legitimate business, it’s going to take some leg work on your part. Some businesses require more money than others but they all require time.
How much time will you have to devote to your business?
If you quit your job, you’ll have all the time in the world, but that certainly isn’t a good strategy before you start making some money. Money first, quitting latter I always say!
If you want to generate another source of income, you’ll have to accept working hard outside of work for the next few months.
Working from home is not like working at the office becuase you do not make money if you’re slacking off.
Unless you’re commissioned, you know you’re going to get paid regardless of how much work you actually do. As long as you show up and do something, you get your pay check every 2 weeks.
If you’re willing to work hard for the next few months, you can start building your own online value-based business for $0 (no credit cards either).
Just CLICK HERE!