Pro's and Con's of Working From Home
There are advantages and disadvantages to working at home. Know
what they are before you start so you can avoid pitfalls later
on.
It's important to know you can handle all the different aspects
of working at home. Although there are wonderful benefits to
being self-employed, there is a negative side to everything.
Make sure you know the difference and the benefits outweight the
potential problems.
Pros:
Lower startup costs - Working from home greatly reduces
the initial expense of starting a business.
Less stress - Fewer irritants such as florescent lights,
coworker gossip and hawk-eye bosses. As stress decreases,
productivity will increase.
Tax benefits - There are many important tax breaks in
having a home based business. Be sure to check with your tax
advisor to make sure you get the most deductions you can without
setting off IRS flags.
No commuting - Freedom from driving to the office each
day and getting stuck in traffic, not to mention the gas
savings.
Lifestyle flexibility - Working from home allows you more
time to spend with your family. No daycare costs and freedom to
work when it is convenient for you are a definite plus.
Flexible work hours - You control when you work, how you
work, what you wear to work and how long you work. This is a
nice benefit, especially if you are well disciplined to get
things done.
Increased income - Unlimited income possibilities.
Cons:
Isolation - Many people can not deal with the isolation
that accompanies working at home. Make sure to have social
activities along with your work schedule.
Space limitations - The obvious, having to make enough
space for you to comfortably run your business and still keep
your business/personal finances separate. Using a spare bedroom,
is a good option if you have the space available, if not, just
make sure you have an area that is at least semi-private to
enable you to work comfortably.
Security concerns - Working from home can cause concern
when business meetings are scheduled. Make appropriate plans for
meeting clients and customers in a public place if you are
concerned about having them in your home.
Household interference - This can be a problem for those
who are raising small children. The distractions throughout the
day can make it difficult to concentrate at a task at hand. Make
sure your family knows that when you're working, interruptions
should be kept to a minimum.
Overworking yourself - Often when working from home, we
don't quit at the end of the day, but rather try to "finish up"
a project, thus we end up working into the wee hours of the
night. This can quickly lead to "burnout" which can cause
problems with your business, your family and your own health.
There will be changes required in your personal habits to
successfully work from home. You will have to discipline
yourself to not watch the television when you have work to get
done. You and only you will have to practice diligence and
willpower to get your work done in a timely fashion. Since you
are not punching a time clock, you will have to make sure that
you set obtainable goals for yourself and then make sure that
you meet those daily goals.