Starting a Home Based Business - The Advantages
Seven distinct advantages of starting a business from home. Encouragement for others who might be interested in starting a home based business.
Seven advantages of starting a business from home
If you've ever thought about starting your own enterprise, you should be aware of the many advantages of starting a business from your home. Even for businesses that require a separate facility or storage area at some time in their life, a startup at home offers many advantages to the budding entrepreneur. Let's look at seven clear advantages of starting a business out of your home.
1. There are many types of businesses to choose from. One might think that having a home-based business would limit the opportunities - that's just not so. There are many home business ideas that can be started and successfully operated out of a spare bedroom turned into an office, an unused portion of the basement that becomes a workshop, or an area in the garage that can be a place for storing inventory, equipment and supplies. Think of services, reselling and consulting as three broad categories that offer a selection of perhaps hundreds of potential businesses that can all be operated out of your home.
2. Low overhead equates to low startup costs and lower overall financial risk. If you're operating a business out of your home, that's rent, utilities, telephone and commuting costs that you've eliminated from startup and daily operations of your new enterprise. Low overhead is exactly what you want with your own business. Many people jump into a business that requires a separate office or store front, and that can be many thousands of dollars upfront just to get the business started. These separate operating costs must be met each month as well. Working out of your home greatly reduces or completely eliminates these additional startup and overhead costs.
3. Begin at a more comfortable pace. Okay, so you're not ready to jump in with both feet and work six days a week and 10 hours a day in your own enterprise. That's good, because you don't have to. If you start out of your home, you can begin your business as a part-time effort, perhaps something you do after regular work hours or on the weekend. If you're a first time business owner and manager, you'll want to "ease into it" until you get your feet on the ground and gain some experience. Working out of the house allows you to start slowly until you build up sufficient confidence and momentum to take your enterprise to the next level. It takes a certain type of person to venture into the world of self employment, and working out of your home on a part-time basis is a comfortable way to learn if you have the "right stuff."
4. It's really rather convenient. With an office or workshop at the house, we're talking about a 60 second commute to get to work, a few minutes to stop for lunch, and another 60 second commute back home. If you have personal business to attend to on the home front, it's something that can easily be worked into your schedule; you take a few minutes to interact with the service man when he shows up instead of taking an afternoon off of work to wait around until he does. Also, don't forget, since you're at home, it can be casual dress day at the office every day of the week.
5. There are much lower personal costs associated with a home based enterprise. Land line phone service providers typically offer low cost unlimited long distance calling each month, and cell phone providers are doing much the same, so whether you use a land line or cell phone at the house, your home phone can double as your work phone at no additional cost. With no commute, there is much less stress associated with getting to and from work, and therefore much less wear and tear on your emotional and physical self. And, with the kitchen only a few steps away, you won't be going out for those expensive lunches quite so often. All of these factors help to lower your personal costs of being employed - all because you're working out of your home.
6. Distractions are only those that you create or allow. If your work requires concentration, then an office in your home can provide a quiet work environment without the distractions of company called meetings, chit chat around the coffee pot, and other interruptions during the day that are typically part of a regular office environment. Often the most productive part of the day in a regular office is before work, after work, or on the weekends, simply because there aren't any distractions. In a home office, this distraction free environment can be replicated at all hours of the day, every day you choose to work there.
7. It's easier to set your own hours of operation to match with your needs and that of your customers. If you get up at 6 a.m. to get ready for a regular office job that starts at 8 a.m., a home based business could give you an extra hour or two in the morning and at least an hour in the evening that can be dedicated to your work instead of getting dressed and commuting. If you live several time zones apart from your customers, it's much easier to match your schedule with theirs simply because you're only a minute from your office instead of many miles and perhaps an hour or more. When you're working from home, an early start at the office isn't a problem, and neither is a late night at the office.
Despite these many advantages, there are certainly challenges associated with work from home opportunities. Nevertheless, it's been my experience that the advantages far outweigh any drawbacks that may come into play. If you're interested in a slow and manageable start to your own business, and you'd like to keep the costs low and the convenience high, then a home based business opportunity could be just what you're looking for.