Working from home has various advantages to offer. But it also has its set of challenges and drawbacks. Learn about the advantages and disadvantages of working from home.
It is perhaps a good idea to view the benefits and challenges of working from home in a clear manner before you make the decision to start your own home-based business or take up a telecommuting job.
Financial Advantages of Working at Home
When you start a business from home it drastically reduces the overhead costs. If you are starting an online home based business that it could reduce the expense of setting up a business even more because you do not have to deal with setting up a physical office space. However, if it is the regular home based business then disseminating the extra space that you have in your room to start your business will help you save on the expense of space. It will also qualify you will for the legitimate tax deduction. You can even begin to use the furniture from your own home for your Home-based office. You’ll save on the expense of getting new utilities connections such as electricity and phone line because these corrections are already liable to exist for your home. In addition a portion of all your home expenses can be written off as office expense.
But starting a business from home it is considered lower risk venture. It it is a fact that many home-based businesses in fact most of them failed due to the paucity of available financial funds during the time that it takes for the business to find its own feet and start making a profit. Starting a business from home means that you will have less overhead expenditure. This surplus money can go towards supporting yourself, your family and your business through its inception stages. This means that you have better chances of succeeding with a home-based business you do additional funds available to you.
Financial Disadvantages of Working from Home
It should be clearly understood that when you start a business from home there are going to be certain financial setbacks during the beginning. Almost all businesses take time to get up on their feet and began to show profit. Even the most well known and the biggest businesses in today’s date took several years to begin to show profit. Of course, setting up a small based business from home might not take that long. But even during the first few months when you need to support yourself, your family and the business might be trying on your financial resources. For this reason you should be prepared to face a lack of income during the initial few months of starting a business from home. There is no guarantee of income during these months and in fact even later on during the life of the business. Everyone knows that there is no steady paycheck involved when you are running a business of your own. But this may prove to be a good thing because it also allows you to increase your income manyfold. One of the main ideologies behind starting a business from home is that the income is only limited by your own effort, creativity and goals.
Advantage of Personal Freedom When Working from Home
When you run a business from home you are the master of your own destiny and you are the person gets to decide which hours you work and which are suitable not. You can always find time to take off to do household chores and address personal and family needs such as picking children up from school, going shopping etc. If you do not wish to work on weekends you can close of business on those days and do other things as well. You are also free to organize and manage your holidays accordingly.
Disadvantage of Personal Freedom When Working from Home
Having personal freedom of time and schedule when running a business from home is a two edged sword. While you have the freedom of dictating your own schedule you also have to be available to your clients and customers for the sake of your business. If your business involves sticking with customers and clients who require your service or product, then you are bound to that time schedule. Also, when you start to work from home to set up your own business you will find that the requirement on your time and effort is a lot. You might find yourself spending more hours in making your business work and getting it up on its feet in the inspection stages than you might have spent on a regular job.
Another problem is that distractions can come in the form of family and friends. People might not realize that even though you are working from home you are not free to do whatever and whenever you want. You will have to put limits on the activities that distract you from your work.
It is common to find that you are spending more time in your home based business then you would on a regular job. Trying to make a home-based business or a freelancing jobs succeed can become an obsessive need and you might find yourself working 12 to 14 hours every day. This is actually contrary to the reason why you started a home-based business where you thought to allow yourself more time and flexibility to devote to your family and personal life.
The Bottom Line
The bottom-line of working from home and whether it proves to be advantageous or disadvantageous depends upon your personal needs, personal habits and your outlook. A home-based business is suited to certain people while it is not for the people. It is a good idea to get a clear perspective of what you want from setting up your own business from home or working from home with a freelancing job and then compare it with a realistic viewpoint to what this kind of a home-based venture can actually deliver to your lifestyle. Think in an objective manner of the changes that will come about with working from home and whether these changes are the ones that you desire to make your lifestyle