People often love the idea of starting a home-based business but are too afraid to take the leap and make it happen. They fall victim to common myths about working from home, allowing their fears to keep them from even exploring the possibility. Although the thought of starting your own business can be overwhelming, it is still worth considering.
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Don’t give up on your dream, reflect on the following 10 benefits of working at home:
1. You decide when to work.
One major advantage of being your own boss is that you get to set your own hours. That means that you can plan your schedule around other aspects of your life. Are you most productive at night? If so, you can start your workday when everyone else is going to bed. Do you want to take a break in the middle of the day? All that you have to do is plan your schedule accordingly.
Of course, there are some risks associated with being in charge of your own schedule. There is always a chance that you could get distracted or that you could succumb to procrastination. To stay on task, make sure that you have a plan in place that will allow you to make good use of your time.
2. A flexible schedule means you can spend more time with your family or doing things that you love.
When you work at a regular job, finding time for your hobbies or your family can be challenging. Starting a home-based business gives you a lot more flexibility, making it easier to spend time with the people that you love. Some people are even able to homeschool their children thanks to the fact that they run their own business.
Keep in mind, however, that you still need to devote time to your business if you want to succeed. That means that you most likely will still need someone to watch your children so that you can focus on work.
3. You can design your business around something you are passionate about.
Imagine how amazing it would be to earn a living doing something that you enjoyed. Turning something you are passionate about into a business makes going to work a real joy. It is easy to get motivated to spend time on your business when you are doing something that you love.
4. You don’t have to worry about a long or expensive commute.
Think about how much time you spend traveling back and forth to work. Now, think about how much money you spend. Reducing the distance of your commute could save you a significant amount of money. Not only that but the cost of maintaining your vehicle is also usually a lot less since you aren’t driving it as often.
5. You decide how much money you want to make.
One of the biggest fears that people usually have about starting their own business is that they won’t have a steady pay-check. Although it is true that you need to plan for slow times, being a business owner also gives you a chance to decide exactly how much money you want to earn. In most cases, your earnings will far exceed what you could make at a traditional job.
You are in charge of setting your own prices. As long as you don’t undercut yourself by pricing your products or services too low, you stand a good chance of making a profit particularly if you master the art of marketing.
6. You get to take advantage of a lot of business write-offs.
As a business owner, you can write off a lot of your purchases, which can save you money on your taxes. Any supplies or equipment that you purchase for your business can generally be written off. If you use part of your home exclusively for your business, you may also be able to claim a deduction for that space. The same goes for your car. You may already be paying for certain services that you could deduct if you used them for your business. Your Internet service is a good example.
When you work for someone else, all of the money that you earn is taxed. As a business owner, however, you have a chance to deduct all of your expenses before calculating your taxes, meaning that you only pay tax on your actual income. Always work closely with a tax specialist to ensure that your business is in compliance with tax laws.
7. You are in charge of your own dress code.
If the thought of wearing a necktie or pantyhose makes you cringe, think how nice it would be to be able to wear any outfit you want to work. You can literally work in your pyjamas if that is how you feel the most comfortable.
Keep in mind, however, that the clothing you wear can impact how productive you are. Dressing up for work in business casual clothing can put you in the right frame of mind to get a lot of work done.
8. There is no one else to report to.
If you don’t like the idea of a boss or manager breathing down your neck, owning your own business is a great option. You are in charge of making all the decisions, meaning that you can do things your own way.
If you have to be late for work one day, it isn’t a big deal as long as no one is waiting there to meet you. If you wake up feeling sick, you don’t have to call in. If you want to take a vacation, you can simply go without having to get permission.
9. Owning a business can be extremely satisfying.
When you are satisfied at work, you also tend to be happier in your life. The more successful you are at your job, the better you feel about yourself and your abilities. This can positively impact every aspect of your life. When you are happier and in a better mood, people will naturally enjoy spending time around you. This can help you form deeper bonds with your loved ones while also allowing you to live a much more fulfilling life.
10. You can continually change things up.
One of the biggest complaints that people have about their jobs is that they have to do the same thing day after day. When you run your own business, there naturally will be some tasks that you have to perform every day. However, you have a lot more freedom to try new things or to change the way that you work. For example, you could take your work to a local coffee shop for a change of scenery or you could rearrange your schedule so that you do the tasks you usually save for the end of the day first.
