There are a number of pros and cons for running your homebased business and you should be aware of both sides of the coin before you make a decision about your home based business.
You can start part-time. You can decide to build it to a full time business or keep it part-time.
You can take advantage of legal tax deductions. Homebased businesses have tax deductions available to them that the standard employee does not have. Consult your tax advisor for specific details.
You can turn something you truly love into an income stream. Are you good with woodworking, music, crafts, consulting, financial advise, fitness training, nutritional counseling? All of these and more make excellent home based business ideas. Most people actually hate their regular jobs.
You can earn the type of income you truly desire. If you are willing to put in the work, no boss decides how much (or how little) you can earn.
You can set your own hours. Not a morning person? Start working later in the day.
You will not have that “water cooler” time with other employees and this can make you feel lonely.
You are responsible for all the administrative tasks like bookkeeping, taxes, marketing, promotion. Much of this gets handled during what employees call the “off hours”. While your friends are meeting at the bar, you may be putting in hours at home.
Personally, I prefer the freedom and flexibility of working from home. The idea of having a boss tell me where to be, when to be there, how long to stay, what to do while I’m there, and how much that is worth to them is a life I wouldn’t wish on anyone.
There will be things to learn. There will be setbacks. But when you get it right, there can be tremendous successes and accomplishments that will never be realized working for someone else.
Check out some of the ads on this site to get your own homebased business ideas. Feel free to ask questions and do your research thoroughly.
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