When trying to decide if you should start your own home based business, there are many things to think about. There are the obvious ones, such was will you make enough money to make it worth it, and other ones such as would you prefer to work at home, or outside the home. There are many plusses and minuses for starting your own home based business. Here are just a few to help you decide if starting a home based business is right for you.
One of the biggest plusses is the one that most people first think about. That is, you will be able to be home most of the time. You will be able to take care of children, siblings, or parents, if you need to be at home to do so. This is one of the main reasons people think about starting a home based business, so that they can be home to take care of others.
Another big plus is that you can choose the hours that you work. Since it is your own business, you can put as many or as little hours into it, and there is no one to tell you that you are doing to little (or too much). If you’re a night owl, you might prefer to sleep in every morning, and do the bulk of your work in the late afternoon into evening. If on the other hand you get up very early, you might want to have all of your work done by lunchtime. Having your own home based business can be very flexible, so it can work around you, and how your schedule works.
When you work for someone else, sometimes you are stuck sitting there waiting for people to get back to you. You want to get your work done, but you have to wait for a co-worker to get back to you, or your boss to tell you what to do next. When you work for yourself, you can multitask. If you are waiting on someone for something with work, you can always get something done around the house. You will never just be sitting there waiting for something to do!
You can also save money by working at home. If you commute you have the expense of getting to work, which could either be your car and gas for the car, or a bus or train ticket. When you commute at home, you don’t have to do anything – you are already at work! You don’t have to worry about buying new clothes for work, or buying lunch, since you can eat at home.
There are also many negatives to starting your own home based business. When you work for someone else, you normally get a set pay. When you work for yourself, you might make a lot of money one week, and none the next. It also usually takes a while for your business to take off, so you might not make any money for quite a while.
You also do not get benefits. Besides getting paid, when you work for someone else you normally get other benefits such as health insurance, 401k, sick days, vacation days, etc. When you work for yourself, you need to take care of health insurance on your own. You can still put money into a 401k, but obviously there is no company to match any of it for you. You can take as much time off as you want if you are sick or want to go on vacation, but you will not be paid while you are not working.
As you can see, there are many plusses and minuses to starting your own home based business. Once you take a look at all of the good and bad things, you can decide if it’s right for you.
Jessica Mele is the creator of Workism, a site where we help your home based business succeed . We will help you decide on a business, and help you make it a successful one.