So do you really want to find work from home jobs online? Do you really want to work for someone else?
I have already gone into this in numerous posts… But there is an additional topic that I haven’t brought up that is worthy of note.
The considerations you should take into account while deciding to work for someone else online or starting your own online business is:
- Amount of compensation
- Compensation into the future
- Bringing something into your home that you might not want there
- Tax benefits
Amount of compensation
The first consideration between an online business and an online job is the compensation. How much are you going to makeoff the endeavor in the short run.
If you start out with one of the online freelance sites like upwork.com or elance.com…you may be looking at roughly $2.50/hr or $5-$15 per article. This is typically the place where most people start when looking for jobs online.
Eventually you can make it to $45/hr+ or $45-$75+ on these sites, but it takes time and effort to do so. You must have all your assignments turned in on time. You will also need to get 5-star ratings and rave review on the lower pay levels in order to get to the top tier.
On the other hand, when you start an online business, you will not be making any money to start with. You will have to build out your website and it’s content. This will take time and effort in the beginning without any monetary reward.
Those rewards come in the future (and there are three big ones). I will get into those rewards in the next section.
The question is do you really need the money now, or can you defer for a few months?
Compensation in the future
The next thing to consider is compensation in the future. How much value can an online job or an online business give you?
First off, You already know the compensation you can receive in the future with online jobs…$45/hr.
Let’s say that you spend 20 days on a big project at 8 hrs/day. So you sped 160 hours on the project at $45/hour. Congratulations, you just made $7200.00 for the month.
It takes time-I’ve heard estimates of 6 months-1 year to get to that point. So lets just assume that you spent six months working to get up to skill set to work on the project above.
Now we shift over to the online business. You take the same six months building your skill and building out your site. Now lets say you put out two blog posts per day – usually about four hours of work – you will have 360 blog posts on your site, and you could be making the same $7200.00 or more.
If you noticed, having your own online business actually gives you time back. And the numbers – 2 blogs in four hours – is my actual average. So building an online business can give you your time back.
The final benefit for an online business that you don’t get with an online job is you have an asset. You own your online business platform (that is if you have your own private domain. This private domain actually has value.
I have seen these online website businesses being sold for $10,500.00, and that particular site only had around 75 blog posts on it. Yours may have 360 blog posts. Could you imagine what you can get for that website? Selling your blog site is an option that’s not available to you if you take the online job route.
So the way I see it… The online business route, in the long run, is a better investment of time and money than working in an online job. You may have to work an online job while building the online business for extra money. This is also an option.
You may bring something into your home that you might not want there
If you work for someone else, you may bring stuff into your house that you don’t want there. I am talking about mindsets that might not be healthy for you or the family environment.
In order to make money in an online job site in the beginning, you will have to hustle and grind to get the work out. When you do, it will be for less than minimum wage. That’s just the way it
When you hustle like that continuously, you will burn out and get stressed out. Then you will most likely extend that to the family environment… No matter how much you try not to. The problem is that you brought the online job into your home.
Lets say that you started the online business. You can set that online business in whatever niche you want. In fact, this is a great way to turn any of your hobbies into money. Now you are bringing a work of joy into your house.
Second, you can get a lot done (two blog posts) in four hours. You just cut your work time in half (compared to the examples used in the previous section). You have more free time to use the way you want.
The best part is you are bringing something into the house that’s not a potential source of strife. You are bringing something into your house that’s a joy to work on.
Set in this light, I would rather take on the online business over the online job for the piece of mind and easier family life.
If you work a job on Upwork.com or Elance.com, you are growing their websites and expanding the assets of someone else. In fact, in the beginning, You aren’t being paid well at all for the work, and you might put in an hour or two on that work.
When you start your own online business (assuming you have your own private domain)… You own the website. You have ownership of the work that you created. You can build that site for years to come, or you can sell it off. You have seen what kind of money you can make on an online business website.
Finally, there’s the tax benefits that you can take advantage of.
There are really no tax advantages that you can take in an online business. All the work is done online, and your client has most likely done all the legwork for you. All you have to do is the research that was given to you by your client and write the article that is requested.
With the online business, there are actual products that you have to purchase for reviews. If you purchase the products for review, you can get a tax write off for each products you purchase for review. That’s assuming you didn’t return the item after the review.
The easiest way to do this would be to set your money for taxes aside in a savings account. Then when you buy a product to review, you take the money out of that savings account. After all, the price of that item will be written off your taxes. But before you do any of that, you should always talk to a CPA first.
It’s my opinion if you’re going to work from home, you should definitely go the home business route rather than going to one of the freelance online job sites. You might make more money up front with the online job, but you make more money in the future with the online business.
If you are interested in the online business route, I recommend you look into this. It’s the best program in my opinion to get you started, and they have their own web hosting so you can host your private domain with them… They will also teach you everything you need to know about how to build out your website.
If you have any questions or comments, feel free to leave them below. I appreciate all your comments and answer all comments.
I wish you all well, no matter where you end up on the web.