When most people compare the merits of running a home based online business against a traditional job, they often cite benefits such as more free time or more freedom.  While these are excellent benefits, rarely do make a more statistically measurable look at the two.  In early 2010, the national unemployment rate is barely below 10%, however the estimated “real” unemployment rate is almost double that.  Additionally, the some reports estimate that as many as 9 million jobs that once existed will not come back, even when the economy turns around.

The traditional advice to most teenagers and young adults sounds like this, “stay in school, get a college degree, and you will have a much better chance of succeeding”.  However, this is no longer entirely true.  Here are some statistics that may help add some perspective on how much money the “typical” family may spend over the course of a year.

It is estimated the average person will work for more than 4 months to earn enough money to pay their taxes.  Think of it this way, for every 8 hour work day, 3 hours of pay will go directly to taxes.  If you make $50,000 a year, then you will carry a tax liability of around $18,000. Even in the middle of the economic recession, the average American spent nearly $1.25 for every $1 that they earned.

Here are some additional costs the average family will have EVERY year – $7,000 for childcare, $1,200 in gas, $4,000 eating out, $500 for car insurance, and much more.  In total, it will now cost nearly $250,000 to raise a child until they are 17.

With so many expenses, it is no surprise that many people are starting look into starting their own online home business.  In the United States, every year there are nearly 36.6 million home offices households.  Combined, these households generate $427 billion of revenue.  To put this in perspective, $427 billion is more than the drug industry, medical industry, and hospitality industry generate in combination.  Additionally, home based online businesses often have comparatively high success rates over the long run.

Here are some statistics about starting a home based, online business that might surprise you.

The Small Business Association estimated that more than 50% of all businesses that will be started every year are home based/online businesses.
Of these startups, more than 70% will still be in business after 3 years.  Less than 30% of all traditional business venture startups will still be around after 3 years.
Households that have more than $80,000 in total income have an 89% chance of having a home office, whereas only 14% of households with $25,000 have a home office. Home based businesses and online businesses create nearly 8,500 jobs every day.

While starting a home based online business isn’t for everyone, it does seem to be an excellent idea when looking at the statistics.  The economy and “normal” expenses can make life extremely difficult for the average family.  Small home based online businesses are not only an excellent source of additional income, or as a complete income replacement, they also have a high probability of long term success.  It is important to keep in mind that it takes a certain type of person to successfully run a home business, if you think that a home based business may be a possible option for your future, the numbers are in your favor.

To your success,

P.S.  Click here to Learn How to Build your Business Online like never before!

When it comes to making a businesses website, many people are unsure whether or not outsourcing the project is a good idea.  However, once you take the time to consider all of the variables, making this decision can be much easier.  Here is a quick look at some of the factors that you should consider when deciding whether or not you should outsource the creation of your business website.

The first thing that must be considered is whether or not you have the sufficient skills to make a professional website.  Simply having a website is not enough.  It must appear professional as well as be functional for its visitors.  Depending how you will be promoting your website, the design may also need to optimized for SEO purposes.  With your web presence at stake, do you really believe that you have the skills necessary to do this yourself?

Another factor to consider is time.  Every day that you go without a website, is another potential life-long customer lost.  Even you have the time to create it, will you be able to get it up and running within a meaningful time-frame  If it is going to take you a few months to get everything going, then outsourcing this project to someone who can do it much faster is a much wiser choice.  Additionally, even if you have the free time to work on a website for your business, is that really how you want to be spending your time?  Remember, the time that you spend designing a website could be used for other tasks within your business, that may prove to be a more productive use of your time.

Outsourcing your website creation also allows you to take advantage of the first hand knowledge that web designers have.  Since they consistently create professional business websites, they have a working knowledge of the latest trends and techniques that are making business websites the most successful and profitable.  If you do the designing yourself you risk missing out on the latest techniques or simply  be required to spend additional time learning what latest techniques could prove useful to your business.

Another benefit of outsourcing the design of your website is gaining additional value through sustainability.  Professional website designers create websites that can provide sustainable success.  They understand that there are certain features or programming techniques that are more timeless and sustainable than others.  They can then leverage this information to create a website that is not only sustainable, but also easy to alter if changes prove to be necessary.

When it comes to deciding whether or not you should outsource your website design there are a number of variables that need to be taken into consideration.  You should always consider whether or not you have the sufficient skills necessary to design a professional looking website, if you have the time to do so, if you can take advantage of the latest trends, and whether or not you can create a website that will provide sustainable value.

To your success,

P.S.  Click here to Learn How to Build your Business Online like never before!

Maintaining your business website is essential to establishing your businesses online web presence.  Many small businesses do not understand the value of self-hosted websites, and instead use free, 3rd party alternatives.  Here is a quick look at why self-hosting is essential to establishing your online identity.

Your Own Domain

If you choose a free hosting solution, you will not get to use your own domain.  Owning your own domain is essential to establishing a solid web presence for several reasons.  First, if you own your domain name, you never have to worry about your website content.  If you use a free hosting alternative, and they go out of business, you lose everything.  They also have the final say about what you put on your website, including ads.  Finally, they will place their own ads on your website.  This looks very unprofessional and will quickly turn away customers.  By owning your own domain name you have complete control over where your website can be found.

Functionality

By using self hosting, you get the freedom to use any software that you need.  This includes software to create a blog, connect with customers via social media outlets, as well as your own content management system.  With free hosting, this is never an option.  In order to have the flexibility to whatever you want with your website, you must using a quality hosting company.  You also have the option to purchase excellent 3rd party plug-ins that can make your small business website more functional and more customer friendly.

Professional

If you want people to take your small business seriously, you must take it seriously.  By using free hosting, you blatantly telling your customers that your website is worth their time.  In order for your website to be an asset to your company, it must provide some sort of value.  Free hosting companies are using your website to promote their products, which detract the focus away from your business.  If people leave your website, then they will never take action and take advantage of the products or services that you offer.

If you haven’t noticed by now, all of these reasons boil down to one thing – control.  Would you really want some other company to in charge of your businesses website?  Only self hosting gives you the professional appearance and choices necessary to create the exact website that you need.  As a business, your website must appear professional and internet users have become web savvy enough to tell when a business is not taking their website seriously.

If you are not willing to treat your business assets seriously, then your website will not be able to help you establish a valid and useful online web presence.  Free hosting will never make this possible.  Only with self hosting will you be able to use your own domain to brand yourself, achieve maximum flexibility, and a professional appearance.

To your success,

P.S.  Click here to Learn How to Build your Business Online like never before!