If you’re exploring the possibility of home based businesses as compared to the more traditional working outside the home opportunities, it’s wise to take a closer look at the advantages and disadvantages inherent in all work from home businesses. First of all, let’s take a look at the advantages:
· All home-based businesses allow you to be your own boss. With no boss looking over your shoulder, you can create your own vision for your company, write your personal mission statement, set your own goals and timelines, and write your own business plan. The business is yours and you get (in fact, have) to make all decisions pertaining to it.
· All home-based businesses allow you the freedom and flexibility to work whenever you want and as much as you want. You can work just a few hours a day or you can work 10-12 hours a day. The decision is totally up to you. It simply depends on how much money you want to make.
· When you compare the expenses from home-based businesses occurred as opposed to taking job outside the home, it is often a much better alternative. Because of the tax breaks when operating a home-based business, it is many times a more profitable option.
However, there are also some disadvantages to consider when looking at work from home businesses:
· Just as it is an advantage of home business being your own boss can also be a disadvantage. Not only do you “get” to make all the decisions, you “have” to make all the decisions. For many people, making their own decisions relative to their business is a Godsend, while for others it becomes an overwhelming burden. The success of your business is entirely on your shoulders, and you have to be up to the challenge.
· While some people like the flexibility that work from home affords, others folks need organization and structure in their business life. Working from home requires that you discipline yourself to work instead of jumping to the myriad distractions that come up.
· You are in charge of your own revenue generation and your own expenses. There is no one there to do it but you. If you do not have, or are not willing to learn, some basic accounting practices, working from home is probably not a viable option for you.
In summary, there are advantages and disadvantages when considering work from home businesses. You have to ask yourself, “Do I really have an entrepreneurial spirit, and am I willing to learn everything I need to know to success as a business owner?” or “Am I a person who needs someone else to be in charge?”