Too often I’m approached by someone who wants advice on starting his or her own business, but they maintain that they’re simply too busy to take action right now.
Unfortunately, 99% of those people will never take the first step towards financial independence through their own business. It’s all about the mindset of an entrepreneur – most don’t have it.
The real entrepreneur will be ready to start at anytime. Well, here are 4 reasons why now is the right time for YOU to start your own side business…
Let’s start with the most obvious reason:
1. The Extra Income
One of the main reasons anyone starts a side business is for the cash. This is a great motivator. And it doesn’t take an incredibly high net income to end up with an extra few hundred or even thousands of dollars in your pocket each month.
That money can go a long way towards paying off debt, covering bills, buying you a new car, taking your family on a great vacation, etc.
2. The tax advantages
One of the biggest weapons of the wealthy is starting a corporation. And that becomes viable for you when you start your own side business.
The benefits are incredible – you can write off all kinds of business expenses, from home office equipment and furniture to the amount of miles you’ve driven as part of your side business!
3. Momentum
One of the most powerful forces in the world, no matter what discipline you’re talking about, is momentum. Think of momentum as a snowball rolling down a mountain – as it rolls it picks up more and more snow. That snowball grows in speed and size, and it eventually can’t be stopped.
Starting a side business is the very beginning of rolling your snowball down a hill. Once you get started, it’s 1000 times easier to move onto the next step, whether it’s quitting your day job and running your business full time, hiring a new employee, or starting another side business.
Starting your side business now gets that snowball rolling as soon as possible.
4. Happiness
Happiness is a mixture of control and satisfaction as far as work is concerned. When you start your side business, you no longer live and die on whether or not your boss gives you that raise or promotion. Why? Because you now you’re in control of your own business, so you don’t depend 100% on your boss at your day job.
And your side job can be an escape from your day job, giving you something to strive for, something to be proud of, and something that liberates you.
The benefits of starting your side business now far exceed just having some extra cash, but that certainly doesn’t hurt either…
