People find their way to a home based business by a variety
of avenues. Many people dream of a home based business and being the boss one
day. Others find themselves turning a hobby into a way to earn a great income
and revenue stream. With our current economic situation some have come to be a
home based business entrepreneur by no choice of their own, but are still very successful
at it.
Owning your own home based business is certainly something
that many want for different reasons. Some proprietors want to spend more time
with their children or family. There are some owners that want different
working hours or want to be in charge of their own destiny. Whatever way and
reasons you find yourself in your own home based business there are some
advantages and disadvantages when you are your own boss and work from home.
Advantages of a home based business
Many entrepreneurs running their home based business will
tell you that owning your own business is great and being in greater control of
your own schedule and personal environment feels wonderful. The ability to work
when you want along with who you want cannot be compared. However, the full
story on this advantage should be exposed. Remember that profitability is what
your goal is with your business. While you may be making your own hours or
schedule you still need to work in order to create a revenue or profit stream. You
can be forced to work with difficult clients in order to make a buck.
Another advantage when you are working at home is doing
something you enjoy and love and getting more personal fulfillment from what
you create or produce. Many people feel because they are working on something
they have chosen and making a living at it they are more dedicated. You may
also hold yourself to a higher standard than your former employer believe it or
not. You will certainly feel more valuable as an employee since you are the
boss and you are making personal choices that many don’t have the opportunity
to see when they are part of the corporate world.
One entrepreneur advised that it’s close to raising a child
when you start a home based business. “It certainly isn’t an easy task and can
be very tiring and time consuming, but many feel their business is their baby and
are proud of every milestone accomplished.”
Disadvantages of a home based business
Don’t fool yourself that many that begin a home based
business don’t work hard. The hours are long and difficult especially when
getting it off of the ground. Starting a home based business is a risk both financially
and professionally. Beginning a new home based business may mean pulling
yourself out of one career path that you may have followed for a number of
years and creating a new one. You will find you are spending hours and
sometimes days on task that were previously delegated to someone else or
handled behind the scenes and you weren’t even aware.
New logistics need to be learned. Many novices will find
they will invest time and sometimes money for knowledge on logistics, web
design or information, market behavior and industry movements to name a few.
Working from homes major disadvantage is learning to
separate your home life from your work and ensuring the two don’t collide and
cause friction. It’s much harder to define the line between professional time
and home time for many business owners working in their home. Every day is a
struggle that includes interruptions from family and friends and imperfect
working conditions (office equipment may be less; your family may feel because
you are at home you are not working.
Working from home can be successful and works for many individuals.
Take calculated risks. Research and know the industry that you would like to
begin a business in and update skills you will need for success with your
business.
pic is courtesy of jaimesoriano.net
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