Sunday, July 15, 2012

The Real Costs of Earning an Executive Income From Home


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If you are one of those people who dream about earning an executive income from home, pay close attention to what I am about to tell you. It is the story of a high-paid executive who wanted to leave her job to start a family. What she thought would be a simple work-at-home job turned into an eight-year-old hole in her pocket.

The story is not a new one. A top level executive wants to start a family, and in the process leave her high paying job. So she asks a friend who has been in her shoes what she did to continue to earn money for the family.

Her friend, who left the job force seven years prior tells her that she just started a medical billing job after attempting a few other things. It sounds promising. How difficult could it be to send out a few bills, right?

Well, first she needed to be licensed. That took a couple of hundred dollars. No problem. She could handle it. After all, she should expect to have to be trained and qualified to take on her new "job."

Then, she needed a software program to track all of the billing codes for Medicaid, Medicare, and private insurance companies. Who knew there were so many of those? The price tag on that was a tidy $7000.

Okay, she could justify an investment like that in working from home. They would have to use some of their savings, but no big deal.

Now she was ready to rock and roll with her executive income from home. Or was she? Without notice, the software she was using was discontinued. No further support or updates would be available. In a field where things were always changing, this was not a good development.

It turns out, the software she needed in order to continue working cost over $100,000. No, you did not read that wrong. So much for a work from home job.

At that point, she and her husband made the decision to go into debt. What else could they do?

You would think that by the second or third year she would be in profit, even with a debt like that. But it took longer. A lot longer. In fact, it took eight years before she could actually start paying herself!

Now, most people would have given up by that time. But she continued to work at it until she was successful. She was finally earning an executive income from home.

Of course, she was burning the midnight oil, working late into the night while her children slept so that she could be with them during the day. And then there were the conferences she was required to attend. It turns out she still had to travel for her job - and that was one of the main reasons she left corporate America in the first place!

But her story does not end there. Because one day a friend of her showed her a better way to earn executive income from home. It was something that she could fit into the nooks and crannies of her already crazy busy life. And a few years later, it is on the verge of replacing that late night work at home job of hers.

Don't you just love happy endings?

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