Pre and Start Up Support
Should I run my business from home or not – that is the question ?
Running a business from home can be a great option for many entrepreneurs who want to be their own boss and make extra income without the expense and hassle of an office.
But there are numerous potential benefits and pitfalls to working from home. Check out our top ten most compelling reasons from both sides of the argument.
1. You Can Work When You Want: Many entrepreneurs are attracted to the freedom and flexibility that working from home provides. You have the option to schedule yourself or choose your hours based on when you feel most productive.
2. You Have Control Over Your Working Environment: Home businesses provide you with the ability to create the perfect work environment for you. You can adjust the temperature, lighting, sound, and other aspects of your surroundings to make your working conditions more pleasant.
3. Lower Overhead Costs: You don‘t need to purchase or rent office space to run your business. That means you can often reduce the overhead costs associated with operating a business, from electricity bills to rent and insurance.
4. Commuting Is A Thing Of The Past: When you work from home, you don‘t need to worry about the time, cost, and stress incurred with a traditional office job. You no longer need to account for long commutes or rush hour traffic.
5. You Have More Control Over Your Finances: Home businesses give you the opportunity to be more flexible with the way you run your business. You can create a budget that works for you, without having to worry about a landlord or the cost of utilities.
6. You Can Work From Anywhere: Home businesses allow you greater freedom to travel as you can set up your office anywhere in the world where you have an internet connection. You’re no longer tied to an exact geographical location when running your business.
7. Improved Quality Of Life: When you run a business from your home, you’re often able to spend more time with family and friends. This leads to a better work–life balance and a healthier, happier lifestyle since you don’t have to leave your home or your family and friends to succeed in your business.
8. Focus On Your Strengths: Many successful business owners focus on their areas of expertise, rather than trying to become a jack of all trades. When you work from home, you’re more able to concentrate on those aspects of your business where you shine.
9. Easier Entry Into The Business World: With an online business, you don’t need a lot of capital or expertise to get started. You can utilize a range of strategies to increase your brand’s visibility without having to invest in expensive marketing campaigns.
10. Maximize Your Creativity: Home businesses provide you with the perfect opportunity to let your creative juices flowing. You can be as unique as you want with your website design, branding, and product packaging, as you are no longer subject to the confines of a traditional office environment.
Not everyone is cut out to be a work–at–home entrepreneur. If you’re considering making this choice, it’s important to understand the drawbacks of running a business from home and consider if it’s actually the best choice for you.
Here are 10 reasons why you might want to reconsider running your business from home:
1. Distractions: A major downside of working from home is the lack of concentration. From the laundry and dishes to your kids, pets, or housemate, there are a lot of distractions that could prevent you from working efficiently.
2. Office Equipment: If you want to run a successful business, you’ll need the right equipment. It can get expensive quickly if you’re trying to set up a home office.
3. Isolation: Working from home also means working alone. This could lead to feelings of isolation and loneliness. If you’re used to working with people, this could prove challenging.
4. Networking: With the lack of interaction comes the difficulty to build relationships. If your business relies on networking, you might need to reconsider.
5. Flexibility: The flexibility of working from home can be great but if you’re not disciplined, it can make it almost impossible to get work done.
6. Concentration: Many people struggle to be productive in their own home. It’s difficult to stay focused without the structure of a typical office environment.
7. Long Hours: Working from home can mean longer hours since you feel like you need to make up for not being in the office. This could lead to burnout, so it’s important to set boundaries.
8. Professional Impression: It can be difficult to create the right professional impression if you’re meeting clients or investors in your home.
9. Technology: You’ll need reliable technology to run your business. It can be expensive and time–consuming to deal with any issues that may arise, not to mention stressful.
10. Accountability: If you’re not in the office, it’s easy to become complacent or distracted. You won’t have the accountability of knowing there’s someone looking over your shoulder and keeping you on task.
Before you make the decision to run your business from home or to move it to an office, make sure you really consider the pros and cons. It’s not for everyone but with the right preparation and dedication, it can be a worthwhile venture. We are more than happy to discuss your business needs and the different options available.