This is comparison of the pros and cons of a having a telecommuting job as opposed to running your own home based business. While both essentially mean that you work from home and are in control of the situation on the work front as well as the home front, there are some essential differences between the two.
The following is a comparison of the two. Please feel free to post your own observations regarding and experiences as to what you feel have been the biggest advantages and disadvantages of working from home.
A telecommuting job means that you are employed by someone. You do the work as per the requirements of the employer and receive your monthly compensation for the work done. Running a home based business means you work for yourself and the money you make depends upon your clients and when they pay you.
The money that you make from a telecommuting job is more or less fixed and predictable unless you are in commissions work. The income from a home based business can vary with seasons and fluctuate.
Getting in to a telecommuting job you know what you can expect in the future in terms of work requirements and renumeration. The home based businesses usually take time setting up and even more time till they can become a source of regular and substantial income for you.
Running a home based business may be more gratifying in the end as you work for yourself and make something that is completely your own. Your legacy of success is your own and can even be passed down to future generations. Starting a home based business could very likely means that you are starting out with something that interest you. That can a huge source of inspiration.
A home based business is more likely to result in higher investment in infrastructure. You might need special equipment or need to hire another person. A telecommuting job can often be performed from a computer with an internet connection and a phone line.
A home based business can be more fun than a telecommuting job because not only will you feel a deeper sense of accomplishment on your success but also because you may probably hire more people more people to work with you and that will make the atmosphere lively. Home based and telecommuting jobs can be loner and independent jobs with most of the interaction happening over the email and the phone.
You may have more growth potential in a home based business than in a telecommuting job. Since a home based business is completely in your hands, you are only limited by your ow resources regarding its growth. A telecommuting job may limit your career prospects if you work from home full time since most of the senior posts, while allowing some form of telecommuting, are not handed to people who totally work from home. The flip side is that you may also be taking more of a risk with a home based business and the outcome can be unpredictable.
The management and overall success of the home based business is in your hands. Its failure and success are up to you. You need to ensure that you are making the proper plans and arranging for the required finances to make sure that your business succeeds. While you may have the same responsibilities with a telecommuting job, you are not liable directly for any losses and nor will they affect your income that is fixed.