Many have chosen to leave the traditional workplace in favor of something a little closer to home. In some case it now takes them a matter of thirty seconds to get to work where it used to take close to, or more than an hour!
The reasons to make the switch are as wide and varied as the people themselves, but below I’ve listed a few of the more popular ones in the hopes that they might help you with any future thoughts of striking out on your own.
Owning your own business
This is likely the most popular one with the work from home crowd. Building something of substance takes time, effort, and money, but in the end the results are often well worth it. There is something about working for yourself that turns what could be a chore into something that is actually enjoyable and for many the hours fly by where for many “employees” time seems to crawl along (especially on Mondays).
The Ability to Set Your Own Hours
Punching a clock that someone else sets isn’t always enjoyable. Often overtime comes at inopportune times and unless you feel like telling your boss you have something better to do, chances are you’ll cancel plans you might otherwise have enjoyed.
When you’re the boss you not only get to say how little or how much you’re going to work, but when those hours are going to be, and when the days off, and holidays will be given as well, no more working around seniority and settling for whichever dates are left on the calendar.
No More Commute
Commuting for most is a waste of time that could easily be spent either with family members, or even working. Two hours commuting and settling into work is not uncommon for people travelling to and from the workplace and that is time that could be spent building up something of your own.
There is also the financial consideration; no more commute means less vehicle operating costs or taxi fares. The accumulated savings over the course of a year could buy a person a very nice vacation.
Convenience
Have you ever gotten to work and realized you forgot your briefcase? Perhaps it was just your lunch even, but it still caused you inconvenience and unless you work fairly close to home, it likely wasn’t worth the drive back to retrieve the forgotten item.
Working from home allows you to accumulate all your office supplies, equipment, and materials in one place. Need a snack? There’s likely a fully stocked kitchen not too far from your new desk!
Family Matters
When you work from home and for yourself, things like family emergences are much easier to deal with. Have a child home from school with the flu? Not much of an issue since you’ll be close by to minister to them and comfort them while still getting most of your days’ work done.
Making the call to tell your boss you can’t come in because you’re not feeling well is bad enough, but when you’re also taking time off work due to a sick child, or children the loss of work and awkward phone calls can start to add up quite quickly.
Tax Benefits
Owning a business entitles you to many more tax breaks than you’d get from being merely an employee. The write offs you’d be able to take advantage of each year would be another potential financial reward you could take advantage of. The downside is you’d be responsible for paying a bookkeeper to look after your receipts and transactions as well as an accountant to ensure you’re maximizing all benefits that should be afforded to you.
An Asset
Over the years as you grow your business and invest in assets such as vehicles, computers, or other equipment, you’ll start to build equity into it. The business will hold value that can be leveraged against, or even sold should someone offer you a fair price and you actually want to sell out and either move onto something new, or perhaps retire if the time is right.
Many businesses get passed down to future generations ensuring that they too have stability and security. When you’re building your business remember to treat it like a business, and not like a hobby!
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Making the decision to start your own business, and work from home isn’t something you should take lightly. While there are many advantages and benefits to owning your own business there are also short comings that might make it unsuitable for you and yours. The paycheck that comes in at the end of the month is one that you yourself are responsible for generating.
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