Blog

17Apr, 10

I don’t know what you do for a living, but personally I do all of my work out of my home. I really enjoy it because of the unique nature of the field. If either you’re already working from home, thinking about working from home or stuck in an office, I hope you can relate to these benefits.

1. Commute? What commute?

The more successful you are the larger your commute that because you go from working out of your bedroom office to working in the office in your house, to the office on the other side of the mansion. No traffic jams, no red lights, no defrosting the windshield and no rubbing shoulders with strangers at 8am.

TIP:

When I worked in Manhattan, I had close to a 90 minute daily commute each way. When I did the math I realized I was loosing 15 hours a week just in commuting, thats close to one waking day

Lets do a little math here:

(Your morning commute + your afternoon commute) x 20 working days a month x 12 months a year / 1440 (the amount of minutes in a day) = How many days a year are spent commuting
For me this was 75+ 85 = 160 x 20 x 12 = 38400 / 1440 = 26.5+ days per year would be spent commuting, if I had kept my job an entire year, luckily I didn’t.

Getting Sweaty with strangers? Not when you work from home- unless you want to.

2. Collaborate with other home business owners.

If you’re entrepreneurial at all, I bet you’re always looking to connect with other action oriented people. We’re a strange, odd, confusing bunch, but we don’t stress about the resume game, ever. We have fun, collaborate and eventually our businesses make money.

Think about it doctor’s hang out with doctors, restaurant employees hang out together too, so if you’re working from home you should be networking with other home business owners.  Be in business for yourself, but not by yourself.

This sunrise sold me on moving to Miami

3. Live where you love to be.

Working from home doesn’t always mean “Working From Home.” Anywhere where you have access to a phone and internet service, you’re in business.

Like sunshine? Work from the beach.  Or do what I did and move to a city near the beach.
Boating? Work from your sailboat or yacht.
Skiing?  Bring your laptop and work from the lodge between sessions.
Overseas?   Check out the 4 Hour work week and see how other Americana’s are working anywhere in the world.

The awesome view to the right paid a big factor in my moving down to Miami, Fl in the Spring 2008.

4. Make your own hours.

Lets face it, not everybody is cut out to work 9-5. Not a morning person? Start at noon. Throw away your alarm clock. Work at your peak energy times, even if that means 3am like me.

Have you ever felt like your alarm clock was a ticking time bomb?

Australian Home Business owner Katey Shaw drives this point home, “I enjoy House surfing, working wherever and whenever I want to.  I find that I am the most productive at between 11pm – 2am.”

5. Earn multiple paychecks.

Don’t worry, owning a home based business doesn’t mean you have quit your job tomorrow. You can start receiving checks in your free time. Seriously, whats more important, your remote control or your bank account?

Let’s face it, you don’t shop in one store for clothes and groceries, why would you stop at only one paycheck?

Currently I’m receiving paychecks from marketing:

  • Email Management Services (I use Aweber)
  • Social Media Education (check out the Social Media List Machine)
  • a Twitter automation tool
  • Networking Marketing Pro Mike Dillard (click here to find out whats working now)
  • Helping people get hosting for their blogs (Personally I suggest HostGator)
  • a Network Marketing company & team building. (I’ve done this in the past, but I’m not currently affiliated with one.)
  • I also have several clients who’ve hired me to help grow their social media presence.

To be successful from home, you don’t have to do as many as me, or you could do more.

Multiple paychecks = infinite income

6. Pick your team members.

You have control of who you let into your circle of influence and organization. No dealing with the corporate web designer, you can have your own. Thanks to the use of virtual assistants you don’t even need a large office space to do this anymore.

Be careful when picking team members too, if you wouldn’t sit down for coffee with them, don’t let them work with you either.

7. Work in a field that you can be passionate about.

  • Health?  Try out being a freelance personal trainer, or blogger.
  • Real Estate?  No one says you have to work in a RE office to do Real Estate.  I know hundreds of work at home Real Estate Investors / Wholesalers / and agents.
  • Stocks?   How about day trading from home?
  • Something else?   Blog about it and market related products.  This is my favorite way.
  • For example: Like yo-yo’s?   Blog about Yo-Yo’s and sell an ebook on Yo Yo tricks.

8. Freedom

No boss over your shoulder. Kids to the dentist? no problem.  Take off early to softball every day. Bean burrito for lunch? No need to get permission for a potty break.  Hate suits?  Wear shorts… or EVEN pjs:

More Freedom also allows you to do more of what you enjoy.  For example Social Networker, Chris Record states that his favorite benefit of working from home is that, “I get to work in my onesie rocket ship pajamas!”

9.  Choose how you spend your time

I don’t know about you, but depending on my mood I may feel like doing a different activity.   Rainy Sunday?   You can stay in and work, then turn Monday into a beach day.

In order to be successful at working from home I recommend you split your time into equal thirds:

  • 1/3 of your time spent being fully focused on your business.  Doing income generating activity.
  • 1/3 of your time spent studying and learning more about your business, yourself, marketing and your passion.
  • 1/3 of your time spent totally relaxed and away from your business.   Let your systems recharge.

10. Residual Income

A lot of Entrepreneurs are willing to sacrifice the security of a base salary  for the freedom of not having a salary cap either.  The hardest part of a business is making the first $100 of profit, from that point forward its just duplication.

Many opportunities can even create residual income.  Here’s a tip let a goal of having a monthly residual income that = your monthly expenses.  Then everything you make it proven profit.  If you combine a few different opportunities that generate long term income, you can create a cash factory.

Did I leave a benefit out?  Let me know by leaving your comments below!

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

  • http://alexresolutions.com alex lopez

    Great read Cory.. I agree 100% there are ways and possibilities to make as much if not more money working from home and being your own boss and working around your own schedule…
    Thanks for sharing your views

  • http://www.christopherseder.com Chris Seder

    Great article. I totally agree with all of it. I am a real estate investor and I work out of my home. Some people need the structure of an office. But if you can motivate yourself there is nothing better than the home office.

  • http://dreamosity.com/ Dreamosity

    OMG I remember when I was in the corporate world and I wasn't always able to use the restroom when I wanted and how awful that was!! Haha I'm so glad I don't have to ask permission now!!

    Love the blog Cory! I would love to hear more about #10 on residual income, did someone say leverage?… maybe a next blog?

  • http://the247entrepreneur.com/ Cory Shanes

    thanks alex!

  • http://the247entrepreneur.com/ Cory Shanes

    you're right. it takes motivation!

  • http://the247entrepreneur.com/ Cory Shanes

    The corporate world sounds like high school with pee breaks.

    About leverage, I always have to be reminded that there are people who don't understand compounding. It can work with money, or with working out, but you won't see results from just one day's efforts.

  • Carlos Alvarez

    Corey i love the article,its informative and encouraging,you have a way with words,I can see your on your way to complete freedom….I so agree when it comes to homebase business and the power of leverage,….the interesting thing about home base business,is the freedom you enjoy while generating and building a money factory…lol…

  • theuns

    I really like your post Cory ans i so agree , and i like the way you split your time 1/3 's

    And i love that we can pick the people that we want to mingle with .

    You think like me
    Theuns

  • http://the247entrepreneur.com/ Cory Shanes

    thanks Tneuns! The splitting into thirds formula has been huge for my business!

  • Ldobson

    A great article on working from your home with your own home-based business. Besides all of the benefits that you eluded to. There are tremendous tax advantages. For someone working in corporate America making for the sake of a figure $36K a year, they could have an additional spendable cash of $400 per month working a few hours a week at home, with just some tax strategies. Having a home-based business of some kind is a NO brainer!!

    Great post and I'll see you at the top!
    Lloyd Dobson :)

  • http://the247entrepreneur.com/ Cory Shanes

    Great response Lloyd! I totally left out the Tax advantages. No more forking over 30-40% of your income to Uncle Sammy.

  • http://the247entrepreneur.com/ Cory Shanes

    Great response Lloyd! I totally left out the Tax advantages. No more forking over 30-40% of your income to Uncle Sammy.

  • J.T.

    Cory, I’m definitely a huge fan of this blog. Makes me want to work to achieve this myself. As of right now, locked in a job, but if I can get something going, one day I’ll head on out!

  • http://the247entrepreneur.com/ Cory Shanes

    Thanks JT

    I’m glad you liked the post. 😀

    Out of curiosity, how much would you have to make a month, to get out of your job?