The landscape of the modern workplace continues to change. While the last century saw the rise of large employers, the 21st century is a time of diversification, marked by the growth of small and home-based businesses.
Many entrepreneurs enter the home-based business industry by accident. They see a way to make money and start small, expecting to expand when the business takes off. But when their business does become profitable, they may decide to stay small, at least in part because they like the advantages of basing their business at home.
Some of the risks involved in running a home-based business are the same as for starting any business: no fringe benefits, no job security, start up costs, initial lack of steady income, and lots of long hours and hard work. Add to these the loss of home space, isolation, likelihood of interruptions, and the need for tremendous self-discipline and you've got the disadvantages of starting a home-based business.
But the pros may outweigh the cons. consider these benefits: flexible schedule and location, integration of work and family life, no commuting, control of your own physical environment, unlimited income opportunities, and sky's-the-limit creative possibilities. Operating a home-based business often yields increased personal and professional fulfillment through setting and accomplishing your own goals. And no one is looking over your shoulder directing your work.
On the other hand, when you work at home you can set your own hours and integrate your work life with your family life. You are your own boss, set your own rules. You make the decisions and you keep the money you make. No commuting costs, no business lunches, no business wardrobe, no endless meetings.
Whether the work is supported by computer technology or performed entirely on the computer, the world of the internet is a major force in home-based businesses. As with any busy opportunity it's important to distinguish the reputable businesses from the scams. Check with chambers of commerce and government agencies to see if the company has a good record of compliance and consumer satisfaction. Talk with current owners to see if their earnings match the company's earnings claims. Get a fully audited financial statement from the company. If you don't understand it, get help from an accountant or a lawyer. Then compare different companies to find the best deal.
As with any business startup, you need a business plan that addresses financial, marketing, and legal aspects of the business. Are any licenses or certifications needed to start your business? What are the market opportunities for your product or service? If you intend to ask a bank for financing, you'll need to have all this information on paper.
A home-based business can be an opportunity to make money while keeping your independence. Whether go out on your own or buy into an existing business, it's important to move slowly, get advice, and consider your options before you act. - 16003
Many entrepreneurs enter the home-based business industry by accident. They see a way to make money and start small, expecting to expand when the business takes off. But when their business does become profitable, they may decide to stay small, at least in part because they like the advantages of basing their business at home.
Some of the risks involved in running a home-based business are the same as for starting any business: no fringe benefits, no job security, start up costs, initial lack of steady income, and lots of long hours and hard work. Add to these the loss of home space, isolation, likelihood of interruptions, and the need for tremendous self-discipline and you've got the disadvantages of starting a home-based business.
But the pros may outweigh the cons. consider these benefits: flexible schedule and location, integration of work and family life, no commuting, control of your own physical environment, unlimited income opportunities, and sky's-the-limit creative possibilities. Operating a home-based business often yields increased personal and professional fulfillment through setting and accomplishing your own goals. And no one is looking over your shoulder directing your work.
On the other hand, when you work at home you can set your own hours and integrate your work life with your family life. You are your own boss, set your own rules. You make the decisions and you keep the money you make. No commuting costs, no business lunches, no business wardrobe, no endless meetings.
Whether the work is supported by computer technology or performed entirely on the computer, the world of the internet is a major force in home-based businesses. As with any busy opportunity it's important to distinguish the reputable businesses from the scams. Check with chambers of commerce and government agencies to see if the company has a good record of compliance and consumer satisfaction. Talk with current owners to see if their earnings match the company's earnings claims. Get a fully audited financial statement from the company. If you don't understand it, get help from an accountant or a lawyer. Then compare different companies to find the best deal.
As with any business startup, you need a business plan that addresses financial, marketing, and legal aspects of the business. Are any licenses or certifications needed to start your business? What are the market opportunities for your product or service? If you intend to ask a bank for financing, you'll need to have all this information on paper.
A home-based business can be an opportunity to make money while keeping your independence. Whether go out on your own or buy into an existing business, it's important to move slowly, get advice, and consider your options before you act. - 16003
About the Author:
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