To recess or not to recess, that is the question!

[lil-momma-shara]

So it has officially been announced that the U.S. is in a recession. My question to you, what are you doing for a "Plan B"? So many Americans and Canadians are losing their JOBS, nothing is to say you won't be next.

This isn't an emotion invoking post, I want you to think about it. IF you lose your job, do you have a plan B? After you lose your job isn't the best time to try to think of Plan B, you need to do that now.

Have you ever considered a home based business? Not a job, but an actual business that you build from home. The home based business industry has come such a long way over just the past 5 years. There are so many opportunities out there to choose from and most of them provide good incomes.

When looking at starting a home based business as a Plan B, you want to consider several things.

1. Is it a product or service based company? - Will you be selling a product (cosmetics, cookware, weight loss, etc) or offering a service (discount health care plans, prepaid legal, travel, etc).

2. Does the company offer something that people NEED? - We are in a recession. While it may not be the smartest move for the economy, a lot of families are cutting back on the "extras". Are you going to be offering something that people need or want? Offering Discount Health Care Plans will help those that are losing their health care benefits due to job loss. Offering Prepaid Legal Services will help people that may have to take legal action due to job loss, severance packages, etc. While candles and cosmetics are great, you need to look at the economy and determined what has a better chance of progressing instead of regressing.

3. Is it something you believe in? - Research the product/service and company, is it something you believe in? You have to believe that you can help people with your product/service in order for it to work.

4. What is the investment and monthly overhead cost? - Yes, that's right. There will be an investment and overhead cost, you are starting a business. Usually a service based business is cheaper to start than a product based one because services require no inventory purchase. You need to make sure that these costs are something you can afford. Also remember, an investment into starting a good solid business is an investment in your future and will offer you that Plan B that you may need. If you end up not needing to act on your Plan B, then at least you were able to supplement your income and were prepared for the worst.

5. Lastly, what shape is the company in? - Is the company publicly traded (in the stock market, etc) or privately traded? It makes a HUGE difference. Marketing and advertising costs are not cheap for big companies and a publicly traded company has these expenses. A privately traded company does not. The business owners and affiliates of the company advertise through their own businesses - resulting in the corporate office not having to invest money in the marketing area.

Is the company debt-free or drowning in debt? This is important as well. Knowing this will show you what kind of company you are looking at. If the company is debt-free usually they have been in business for a long time and they know how to manage finances. Both of which are important during a recession.

Okay! You are now equipped to embark on your journey into the home based business world! You owe it to yourself and your family to get a Plan B in action NOW - before you need it.

Best of luck to you on your search!

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You can take a look at Shara's home-based business opportunity at: http://www.careerfreedom.info/
Shara has been in the home based business and Network Marketing industry for 5 years. Shara is a successful entrepreneuer and business owner. You can read Shara's story here.