How to Make Extra Income Even While Keeping Your Current Job

There has been a lot of interest in self-employment recently and that is solely because of the current economic crisis which is facing many nations. The financial crisis of 2008 first in the US and then the rest of world has led to a situation where people have become apprehensive regarding their jobs. With massive layoffs becoming almost a daily occurrence, job security is now seen as a thing of the past and people are looking for other ways to supplement their incomes. Sometimes, one can simply start their own home-based business and be able to totally replace their current day job. But many people sometimes feel that they need to learn the ropes of their new business and are therefore not entirely ready to quit their jobs.

Here are some reasons why some people would rather not quit their jobs just yet

1. Learning curve
Any business that you venture into has a learning curve of some sort. That means that you have to learn the business in terms of customers, prices, product description, software and the like. Depending on your individual circumstances, this may take longer for some and this can mean a longer time before they actually start making money. In this case it is recommended that you stay at your job until you are comfortable enough to venture out.

2. Benefits
One advantage of day jobs is that they offer benefits especially when one has a family. This may not necessarily be the case with a home business. Before one starts making decent money, they may not have adequate healthcare and other benefits which are readily offered at jobs.

The above are some of the reasons why people prefer to stay at their day jobs until they are comfortable enough. So what can you do while you are at your day job to prepare you for eventual transition to a home business?

Study
While at your current day job, learn all you can about the business you want to get into. This will ensure that you get the correct information and therefore make an informed decision when the time comes for you to launch out.

Save
While at your day job, begin setting money aside in an account to be used for the new business. At this juncture the day job affords you a great cushion against any financial hardships that you might encounter in the event that your business is slow to pick up.

The issue is to give yourself enough leverage from your current job as possible.

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