• Start Ups
  • E-Commerce
  • Insurance
  • Gig Economy
  • Tech
  • Office
  • Taxes
  • Law
  • Funding
  • Marketing
  • Infographics
  • Podcasts
  • Videos
Sign in
Welcome!Log into your account
Forgot your password?
Privacy Policy
Password recovery
Recover your password
Search
  • About
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Privacy Policy
Password recovery
Recover your password
A password will be e-mailed to you.
TheSelfEmployed.com TheSelfEmployed.com
Your Gig Just Got Easier TM
TheSelfEmployed.com TheSelfEmployed.com
  • Start Ups
  • E-Commerce
  • Insurance
  • Gig Economy
  • Tech
  • Office
  • Taxes
  • Law
  • Funding
  • Marketing
  • Infographics
  • Podcasts
  • Videos
Home Start Ups Pros and Cons of a Home-Based Business
  • Start Ups
  • Work From Home

Pros and Cons of a Home-Based Business

By
Scott Huntington
-
June 14, 2019
0
  • 3shares
  • 1
  • 1
  • 0
  • 1
Share via
    Pros and Cons of a Home-Based Business

    Even Jeff Bezos had to begin somewhere.

    Many small businesses get their start in someone's home office — and perhaps you too have considered starting a business from your home. You might be a team of one or part of a distributed organization that allows you to make your contribution from home.

    But what will life be like living where you work? What are the sacrifices you make to accommodate having an office in your home, and are they worth enduring in the name of working from home? Here's what we've learned.

    The Joys of a Home Office

    Imagine never fighting traffic to get to work again. This can be your reality if you choose to install an office in your home.

    Many people who work from home choose this approach because it allows for a more flexible schedule and reduces the costs associated with things like transportation and office space. If your business is relatively small, those people you do need to work with can visit you at your home office and there's no need to spend money renting a dedicated working space.

    Since you're never away from work, you can enjoy a more flexible schedule. That thing you just couldn't manage to fit in earlier in the day might be simple when you've had the chance to calm down and other businesses have stopped running. Conversely, you can take time out of your day to fit some personal things in because you've got your work right there in front of you and can come back to it later.

    And then there's the tax argument. Using your home as a place of business allows you to receive a special tax write-off for the time and space you spend working. Just be careful here, because the IRS is known to pay close attention to this one. You need to be running a full-time business from your home and have a dedicated work space to avoid being charged with tax fraud.

    The Downsides of Having Your Work Where You Live

    Not everything about having an office in your home is rainbows and unicorns, though. There are some disadvantages, too.

    For one, you never get away from your work. This can cause a lot of undue stress and lead to overworking because you never formally “put down” the job. You're also more susceptible to being distracted. With family and friends right there, it can be simple to tell yourself that you'll come back to a project later.

    If yours is a profession that requires interfacing with clients in person, you may need to install cameras and extra security to provide some protection from strangers coming to your home. As a place of business, it's quite possible your address will be listed where it's easy for people to find. You don't want angry customers paying you a visit in your home.

    Also, an office environment exists for a reason: it's better for communication. Yes, technology is great today, and we should be grateful for our ability to work remotely, but removing yourself from the office entirely can cause you to miss out on situational things, important nuanced communication and ad-hoc meetings. There is a price to be paid for not having to commute.

    Is working from home right for you? It's a very personal decision. Like many important business decisions, it's more a matter of what your values are and how you choose to express them than one being objectively correct. If anything, it's more doable now than it has ever been before, so that gives you some flexibility.

    Previous article How to Become a Freelance Carpenter
    Next article DIY Search Engine Optimization Advice For Lawyers
    Avatar
    Scott Huntington
    Scott Huntington is a writer from Harrisburg PA. Find his work on Business Insider, Yahoo Autos, Time, INC, and more. Follow him on Twitter <a title="Click to open in a new window or tab http://www.twitter.com/smhuntington" href="http://www.twitter.com/smhuntington">@SMHuntington</a>.

    Recent articles

    6 Ways to Achieve a Positive Mindset and How it Will Help You Succeed
    Start Ups

    6 Ways to Achieve a Positive Mindset and How it Will...

    Team TSE - January 15, 2021
    4 Tips for Building Your Creative Business

    4 Tips for Building Your Creative Business

    January 14, 2021
    How to manage your time efficiently as a small business owner

    How to manage your time efficiently as a small business owner

    January 11, 2021

    8 Ways To Improve Customer Satisfaction

    January 10, 2021
    What Does It Take to Run a Successful Pizzeria?

    What Does It Take to Run a Successful Pizzeria?

    January 10, 2021

     

    Follow & Subscribe

    Newsletter Signup

    Signup to get weekly tips and advice to help make your self-employed journey easier!

    Thank you!

    Please check your email to confirm your subscription.

    © 2021 - The Strauss Group, Inc. All users of this site are protected by our Privacy Policy and bound by our Terms of Use