What Are the Pro’s and Con’s of Owning a Home Based Business?

What Are the Pro’s and Con’s of Owning a Home Based Business?

Let’s take a few minutes to review what we discussed so far by looking at the pro’s and con’s of owning a “work from home” business.

No Income Limits
Pro: First of all, there is no limit to your income, high or low. You earn what you deserve. Want a raise? Work hard and increase your earnings. Work hard and smart
and you’ll have unlimited earnings potential.

Con: Home business plans are usually quite simple, but they’re not easy. You’ll need to be creative and adjust your marketing plans from time to time as you progress, especially when you encounter roadblocks. You’ll need to be motivated, consistent, organized, focused, and always ready to take action.

No Boss
Pro: It’s absolutely true, you will have no one looking over your shoulder, deciding your work schedule, and paying you what they deem appropriate.

Con: Everything relies on your performance. Get familiar with the phrase, “If it is to be, it is up to me”.

Work In Your Pajamas
Pro: Since you work from home, you can literally dress as you wish… get up when you wish… work anytime, anywhere you wish.

Con: When you don’t treat your business in a professional manner, it can sometimes be reflected in your work ethics and performance.  

Flexible Schedule
Pro:  This benefit cannot be ignored… it’s the major reason a lot of people get started in their work at home business. You decide your work schedule, take time
off when you wish, and work as much or as little as you wish.

Con: The work still has to be done. Balancing work and family time is a challenge. Getting family members to understand that, even though you are at home, you are
still working and you need to have time to devote to the things that need to be done. You will need to determine how you will balance “home time” with “work time”.
 

Here are some additional advantages for starting your own home business:

* You can start part time and keep the security of your present employment.
* You have lower start-up costs so the financial risk and investment is much less.
* You have the opportunity to save the expenses on child/adult care.
* No daily commute saves time and vehicle expenses.
* You have increased tax benefits.
* You get to do something that you are passionate and excited about everyday!

 

Once again I encourage you to evaluate the pro’s and con’s of owning your own work from home business. If you decide that this is something that you are truly
interested in exploring, then you’re ready to move to the next step… next up let’s look at “What is the best home business model?”

 

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