More and more people are realizing the benefits of running businesses from the comfort of their homes. Recent statistics from the U.S. Bureau of Labor Statistics revealed that an estimated 4.12 million people are currently working out of their homes. As the aftershocks of the global economic crisis continue to take its toll, people have turned to home-based businesses to make ends meet…some even made a fortune from this trend. But what really makes such ventures advantageous and how can they work wonders for you? Here are the top five reasons why it pays to work at home.
Personal Freedom. You can take control of your life and become your own boss. You can opt to work right in the comfort of your home environment and you get to work at your own pace and exactly the way you want. There are no dress codes, no tight schedules, no office politics, and no headaches from being stuck in daily traffic. All you need is to put your heart and mind into it, along with a little discipline and time-management skills. People are also choosing to combine their careers with families, so they could spend more quality time with their loved ones and take on a more proactive approach in raising their children.
You Can Earn More. The principle behind this is quite simple: the harder you work the more income you generate. The amount of money you make is directly proportional to your level of performance. This means you don’t have to wait for promotions or a raise as a result of salary hike or performance appraisal. By investing extra time and effort, you can achieve the financial liberty that you have always dreamt of.
Less Risk and Low Start-Up Costs. Running a home-based business requires less capital investment as compared to a freestanding business or setting up an office. With a little smart planning, you can get started and once your business is running, it’s generally less expensive and easier to maintain. In addition, you get to enjoy a number of tax benefits when you use your house as your personal office. You can deduct your operating expenses from your taxes. This is in contrast to traditional jobs wherein not everything related to your job is tax deductible.
Leverage Savings for Competitive Advantages. This has something to do with the low overhead costs of starting a home-based business. Lower business operation costs can empower you to be highly competitive, not only in terms of price but also with respect to the quality of products and/or services you offer. You can pass on the money you save from rent to clients in the form of lower prices. This will certainly increase your profitability in the long run.
More Room for Professional Growth. Being your own boss enables you to take on different tasks and learn new business management skills. You are free to take on different responsibilities and be the accountant, sales director, strategy setter, marketing professional, business development manager, customer service representative, bookkeeper, etc. This allows you to update your knowledge and skills as you gain more experience with the various aspects of running a business. Your life won’t be boring like it used to be with your regular work schedule in your previous job.
This list of benefits of home-based business ownership and how they can work for you is not all inclusive. There are a lot of other advantages but there are so many to discuss in this short article. However, from the top five reasons mentioned above, it’s quite evident that virtually anyone can try to reap such benefits, and it’s quite likely that we will see more of them in the near future.