Home Business: May 2008 Archives

Owning a home business has pro's and con's. It's meant for some people, while it's not for others.

If you're a person that needs to be around other people, like to meet around the water cooler, just to chat. Like putting in your eight hours and leaving your work behind, then a job is probably more suited for you.

On the other hand if you like calling your own shots and being in charge, if you like to take on a responsibility, build equity, and taking control in what you do, then running your own business might be the way for you.

Here are some pros and cons that may help you further identify if your own business is for you, or if a job is better suited for you. Keep in mind there are always exceptions and these are general observations.

Some Pro's To Owning Your Own

• You have no income limitations
• You have control
• You can work your own hours in some cases
• You build equity while running a successful business
• You can do what you enjoy

Some Con's To Owning Your Own Business

• You have no income guarantee
• You have a lot of responsibility
• You may have to work long hours, without extra pay
• You have extra liabilities
• When something goes wrong you are to blame
• It's tough getting financing when you're starting out

Some Pro's To Having A Job

• You have a fixed income you can depend on
• You can do your job and go home without worrying about tomorrow
• You have little responsibility outside your job

Some Con's To Having A Job

• You have income limitations - It's hard to get rich from a normal job
• You have little control
• You can't choose your own hours
• You always have a boss
• Getting time off can sometimes be a problem
• You could lose your job due to a number of circumstances

There are pro's and con's to each situation and everyone has different tastes. No choice is better than the other, but there is only one choice that's right for you.

That's The Way I See It!

Acey Gaspard

A Touch of Business.com

There are pro's and cons to every situation. These tips should shed some light on what's better for you, running your Business from home, or running your business from an office.

I'm sure you have heard how people dream to work at home. How you can have your own hours. How you don't need to commute. The freedom to work, when you want. How you can have time to yourself and how you can stay close to family.

I have worked in both environments, from home, and from the office. There are pro's and con's to both the office and the home environment.

Here's what I gained from my experiences.

The Pros of running a home business:

• I think the most important point, is you can stay close to your family.

• Depending on your business, you can work anytime you want. This is great if you have weird working hours like me. I like working late hours and early in the morning. I don't like working a lot during the day

• You don't have to worry about getting to the office on time, commuting, traffic, etc.

• Your expenses are lower than having a separate office.

• If you're up late and having nothing to do you can always spend a few hours working.

• You can easily have family members involved in the business.

• It's convenient working from home

• Everything in your life in centralized in one place, where you work, play sleep, and eat. It's like your own little world.

The Con's of Running Your business From Home.

• It's hard to balance work and play. Naps are tempting, the TV is tempting, as well as many other temptations while working at home.

• Privacy is an issue. If you have a client, you have other family members that are affected and you want your meeting to go undisturbed by family members. While at the same time you don't want your family members to be restricted because of clients.

 Even though running working from home is becoming more popular, a home business is still perceived as less professional than running your business from an office or separate facility.

• If you have employees, it may be a headache for them and your family working from home.

• You may need more space once you business expands, and extra space in the home is not always easy to find.

• Because you're at home it's hard to get motivated sometimes, and you get moving.

Now with all the above, the factor is this. Keep in mind some people like to commute, they like, the office environment, they like being around people. Others like to work alone, like the quiet and enjoy being alone. The type of person you are will affect your decision on weather to work from home or get a separate office.

That's The Way I See It!
Acey Gaspard
A Touch of Business.com