The Home Business Phenomena
By next January, millions are expected to enter the home-based business arena, as the economy continues its downward spiral and large corporations and professional careers no longer provide the security we were taught to believe they offered.
Home-based businesses have a lot of advantages -- not the least of which is being your own boss. As one who sees technology continuing to dominate our lives and grow beyond our imaginations in the years to come, my choice for such a business after a legal career is online. As a Boomer, there were some things I had to learn to keep up with the 20-somethings, but in reality they were not as hard as I had anticipated. But the trend, the need and the desire for freedom will remain as many businesses flourish in the United States and Canada.
According to the Winnepeg Free Press online edition (July 11, 2009) [there are] “thousands of home-based entrepreneurs in Manitoba, and their numbers are growing, says Tony Romeo, director of the Small Business Development Centre, part of Manitoba Competiveness, Training and Trade.
“It’s been a steady increase in the last year. What we’re finding is people are exiting the workforce for whatever reason. Many are a little bit older and they look at entrepreneurship as an option,” says Romeo. “About 25 to 30 per cent of people attending our workshops to start a business are intending to start a home-based business” (emphasis added)
Although their reasons vary, many have been laid off or chosen early retirement and are looking to parlay their skills into successful self-employment, he says.
And their homes are often the ideal launching pad.
“There are a lot of advantages to starting a home-based business,” he says.
For one, the business risk is minimal.
“When you actually start operating your business, you are able to maintain low overhead,” he says. “You need less startup capital than if you start out with a storefront where you’re going to need improvements and everything else.”
Home-based entrepreneurs do not have to worry about expenses for rent, business taxes and additional bills for utilities like they would if they started out at commercial location….
“I decide who I work with, who I employ, when I work and the kind of work I want to take on,” Tillett [an entrepreneur consultant working from home] says. “That’s the best thing about having a home business — you are in control of your own destiny.”
Closer to home, the Small Business Administration reports growth in home-based businesses to the tune of some 15 million in the US. It also points to heir likelihood to survive and prosper. According to Homepreneurs: A Vital Economic Force, a study by Emergent Research, conducted on behalf of Network Solutions 35% of home-office businesses show over $125,000 in annual sales, and 8% report more than $500,000 per year. These are businesses in existence for greater than 10 years.
OKAY -- So now what?
The following short video explains my choice -- travel is about as far away from Law as you can get.
Entrepreneurship runs in my blood, but selling does not. Neither does chasing family, friends and customers on monthly autoship. What I enjoy about online travel club representation is the requirement of a one time payment for a lifetime of steeply (and I do mean steeply) discounted travel that I can will to my kids and enjoy all the time before that day of judgment. And, the online travel club business, having left out the middleman (the Travelocies, Orbitz’s, etc.) can afford to pay me most generously for anyone I refer who purchases a membership. Offering to send someone to a desert island in a 5 star resort for $298 a week comes easily; offering a bottle of $100 vitamins to be renewed each month does not.
With travel up (as Priceline reports over 38.2% for the 3rd quarter of 2009), the right travel club opportunity was a no-brainer. Also, it’s hands off. Once someone has a membership -- they book their own travel, I do not become an agent or involved in their trip in any way (unless, of course they want to tell me how much fun it was). Those who acquire the membership and want to build a business become my teammates and I mentor them to success along with the support of a phenomenal team. I can’t stress that enough -- I looked long and hard. You don’t want a disappearing sponsor.
So, home business and travel are it for me……….what about you?
Great Job Mary Anne, I can relate to everything that is mention in this post. For those who don’t see it are doing them self and love ones a big disservice.
[...] Anne Nagy presents Travel Continues to Boom ? Choose Your Home-Based Business Opportunity Wisely posted at Mary Anne Nagy’s Blog, saying, “Boomers are not retiring soon. What next? [...]
Thanks, Debbie. It’s so encouraging to hear that travel continues to grow as we grow our businesses in the industry!
Mary Anne,
Great post. True, home business is the way to go… it’s defining the new way to live life, to manage families and the whole structure of how people make money. It’s not like the old day when people used to think that a home business was for select few and out of the norm….
Today, it’s becoming more and more the norm. Additionally, baby boomers are rolling up their sleeves, diving in and realizing it’s fun. Are there challenges? Of course…! But, to this group of people, they grew up with strong work ethics are not afraid to learn new skills. They are travelling for pennies on the dollar (using the Global Resorts membership) and every time they refer this to a friend, stranger, whoever, they make $1K. How sweet is that!
So, yes, your post hit’s it on the head. Travel is the industry to be in. Home based business is the arena to make money. Baby boomers are tearing it up….