Pretty much everybody has considered setting up their own home based business at one time or another. There are a few big pros and cons to doing this - it isn’t something you should jump straight into without careful consideration. Let’s take a look at the biggest pros and cons so you can make an informed decision:
Pro: You Get To Be Your Own Boss
You get to be your own boss when you start a home based business. This can be a huge pro, especially if you don’t like being told what to do and want to take control. However, it can also be a con. Some people just do not suit being their own boss, and can find it too overwhelming. For now, we’ll look at it as a pro.
Con: Staying Motivated
Staying motivated can be difficult when you have a home based business. The TV is right there, and so is the fridge. What’s stopping you from making yourself multiple snacks, or even settling down with your favourite TV program and telling yourself you’ll do your job later? It’s so important to get things done, whether you feel motivated or not. Unlike a job where you are employed, you won’t get paid if you don’t do anything at home!
Pro: You Can Easily Build Your Business Online
The internet is a wonderful tool for those wanting to start a home based business. You can easily build your business online, and there are multiple ways you can do it. YouTube, Skillshare, and similar resources are good to look at to learn from people who have done it before you. Learning about a technique like network marketing pro could also be beneficial to you. Whatever you're into and whatever you want to start, the internet can help you to make it happen.
Con: You May Need To Start Out Doing Your Own Accounting, Marketing, And More
Not only do you get to be your own boss, you may also need to be your own accountant and marketer. That isn’t all. You may need to be your own social media manager, customer service rep - the list goes on. You’ll be juggling lots of plates, and it can be hard not to spread yourself too thin.
Pro: No Travel
Your office is now your living room or study. You don’t have to travel to work unless you want a change of scenery. This saves time, money, and the environment!
Con: No Human Interaction
Chances are, you’ll miss working with other people at some stage. Working on a home based business can become very lonely, especially when the only company you have is your cat.
Pro: Increased Income Potential
You have far greater earning growth and potential, and everything you earn benefits you directly. You won’t be working hard for somebody else!
Con: No Set Income
You don’t really know how much you’re going to be earning month on month, as your income is not set in stone. This can be scary!
Pro: Total Control Over Your Schedule
You get to plan your day exactly how you want it with total control over your schedule.
The only way you’ll really know if this is for you, is to try it...