The Good and Bad about Running a Home-Based Business

By Clifford Woods <>

If you are thinking of starting your very own home-based business, then you should know that there are pros and cons in life and that achieving a balance between these is preferable most of the time.

You should certainly consider both of them when making the decision to quit that 9 to 5 job and become your own boss.

Below are some of the basics advantages and disadvantages of running your own home business:

Pros

Flexible Hours: You choose the hours you want to work. If you would like take Thursday off and work Sunday as an alternative, then you can. If you want to wake up early and do all of your work in the morning, then that is something you can do. This kind of flexibility can be an enormous relief after many years of working a 9 to 5 job.

No Traveling: Traveling to your workplace and back can be quite pricey, unpleasant, and can feel like a total waste of time and money. Imagine all the money and time the majority of people spend traveling to and from the job. If you have a home business, you simply get up and walk right over to your home office, which is extremely convenient.

Self-Reliance: You need to do what you like when you want. Nobody else can mess up your hard work, and you don’t have to rely on anybody but yourself. Most people who do business from home confess to relaxing around in their pajamas while they work.

You Get What You Earn: Anything you earn is yours to have, except for the expenses of the business of course. It can be really discouraging to work at a place where cash is being dealt with and seeing that the company’s profits for a single day are far more than you make in a week.

Cons

Not Stable: With freedom comes obligation. There will be no one to help you should you work inefficiently one day. To put it simply, if you do not make any money for your business, then you certainly will not earn anything. People today prefer guarantees in their lives, so it can be quite difficult to live in the world of performance-based pay. Often you will wish that you had a bi-monthly check again that you can rely on.

Constant Workload: If you run a home-based business, it might be rather appealing to be continuously keeping track of things, even if you have decided that you are not going to work. The only real person who will be able to handle an emergency is you, and problems tend to occur at night or during your day off.

Doing Everything: You cannot assume all money you obtain is profit. It is used for things like advertising, administration, stock, shipping, and so forth. You need to handle exactly what goes on in your company. You work with providers on one end and clients as well, you need to do all the budgeting and spending, and you have to figure out all that government paperwork and taxes as well.

Less Space: Your home can really feel a whole lot smaller when you have to set a room aside as the home office. When you are not doing work, it is simply a room you can do nothing with. This can be especially troublesome if you have two young kids who will eventually want their own rooms.

Being Alone: If you are the only person on your property throughout the day, it reduces the risk of potential distractions; however, it may also feel too lonely. If you are the sort of person who loves being near others, you may become rather lonely.

Whatever the pros and cons may be, running your own business can be quite rewarding; especially if you are willing to work for the available rewards.

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