Why Starting A Business is the Best Thing You Could Be Doing in This Recession

America is sinking in economic woes. But you don’t have to. Starting a business may be just what you need to be doing with your time to better your position in an unstable world. There’s plenty of reasons – both financial and quality of life – why you should be starting a business right now.

Multiple Streams of Income

You’ve heard this expression many times, but it’s never been more true than it is today. You need diversity in your income – think of it as portfolio balance. In today’s unsettled world, you cannot count on any job or career to be out of danger and subject to being diminished or terminated. By having several lines of income, you can have one shut off and still be able to pay your bills. So how do you establish several streams of income? Well, one stream would be your day job. The second stream would be your start-up business. The third stream might be any investment income you have. The fourth stream might be any income your spouse generates.

Mental Health

Just as multiple income streams improve your financial health, starting a business can improve your mental health, as well. For one thing, it keeps you active when many Americans are sedentary couch potatoes. And the extra income reduces your stress and worry. In fact, most entrepreneurs enjoy what they do so much that they would do it for free.

The Ability To Have the Financial Resources to Retire – At Least from Your Day Job

The American retirement concept is a joke. If you save $1 million, then you would get around $20,000 per year based on current CD rates. But who has $1 million? The average American has amassed around $25,000 which, at around 2% interest, is about $500 per year. Can you live on $500 per year? So forget your financial advisor’s promises that if you only scrimp and save you can amass plenty of income (of course he’ll be dead or retired before you find out you’ve been had). A far better plan is taking matters into your own hands and creating a stream of income that you control and can plan around. And starting a business can give you just that stream.

Build Something of Value for Future Generations

When you start and build a business, you are creating something of value that can last for ages. The business you start today might become the vehicle that guarantees security for your kids and your kids’ kids. Remember Kate Middleton, who just married the future King of England? Her parents started a mail order party-supply company out of their garage, and that was what paid for her college and her living expenses while dating Prince Andrew.

So What Are You Waiting For?

O.K., you’re a believer. So what do you do next. Two things – and they’re both free. Read the book “The Five Steps to a Successful Start-Up” which is available at no cost by going to http://www.StartThis.com. And then read through the free list of over 1,500 businesses you can start for under $1,000, also on http://www.StartThis.com. That will get you going in the right direction. And don’t be afraid to post any questions you have on the Forum section of that website. And again, all of these items are 100% free.
You only live once – so you need to take advantage of every minute. Start that business now!