For many people, the home is not only a place where you have loved ones and family members living together; it’s also a place where you can comfortably run a business and still turn it into a success story. Launching your business from home makes a whole lot of sense, especially when you have limited startup capital and still have a full time job. Over the past few years, many entrepreneurs have opted to market their products, skills and abilities from home for several reasons. Quite a lot of home-based businesses are usually started on a part-time basis before expanding into full-time as the business grows and develops. Of course, launching your business from home has its advantages and disadvantages, especially for first time entrepreneurs who are looking to startup a small business from home. Below are some of the pros and cons of launching a business from home.
Pro: Making decisions on your own
When launching your business from home, you are solely behind every decision concerning your business. Whenever you want something done in a particular way, you can afford to do it without the hassle of anyone telling you how they want you to go about it or how you should run your company. It’s your business and you get to do as you please and call the shots as you see fit.
Con: The downside is that you may miss out on vital inputs and ideas from partners, employees or coworkers as the case may be. Whenever you are in need of instant advice concerning any matter, you simply cannot look over your shoulder to get any; not unless you have other employees working out of your home business along with you. The only feasible way out of this is to join a few local networking groups where you can easily discuss ideas or issues with similar minded professionals.
Pro: Reducing your Running Costs
Launching your business from home is a real money saver, especially when it comes to paying monthly charges for rent, security, gas and even a small parking space for your vehicle. With only a spacious room full of all the equipment needed for your business, you may be able to write off some of these unnecessary expenses, receive a nice tax benefit and save yourself the stress of having to cover all these expenses with your tight budget.
Con: Inviting potential clients or customers for a business meeting or to conclude a transaction might seem a bit unprofessional and a huge turn off to some people. Furthermore, carrying out video conference meeting and conference calls with your clients can also be a big problem, especially if you live in a noisy environment with cars and trucks constantly blaring horns every minute of the day.
Pro: Proper Balance between work and life
Another advantage of launching your business from home is that it gives you the opportunity to spend more time with your loved ones and family. You don’t have to worry about the terrible traffic at rush hour getting in the way of you having dinner with your family every day. As the boss, manager and employee all rolled up in one, you get to decide your own working hours. You can run your business while your kids are away at school or at dance lessons after school hours or even late into the night while they are sound asleep in bed.
Con: Although being able to enjoy the balance between work and personal life is one of the merits of launching a business from home, the downside is that the home still has a way of interfering with your work in the long run. There’s no dispute to the fact that the list of to-do’s at home seems endless, and when you have home related problems staring at you in the face every minute of the day, it may be hard to ignore them or concentrate on the job at hand. In most cases, the desire to take care house-related errands may just be an excuse not to get any business related work done.
Pro: All round comfort
Working from home can be very comfortable for you as an entrepreneur, especially when the idea of walking only a few steps to get to your home office or the kitchen table for a cup of coffee every morning appeals to you. Moreover, having to roll out of bed every morning and working for a few hours in your pajamas without being bothered about how you look or what to wear is also one of the comforts you get to enjoy from launching your business from home.
Con: The downside of this advantage is that it makes it easier for you to get sidetracked when you are in the comfort of your own home. You have a couch and a TV set in the next room, your refrigerator and kitchen just a few steps away; and a bedroom with a large king size bed that seems to be always calling you short nap each time you yawn.
Pro: Healthy Diet
Of all the many pros that come with launching a business from home, this one will give you lifelong benefits as you get the chance to maintain a healthy diet while still running the business effectively. There’s nothing much more appealing than a home cooked meal that comes out of your kitchen just the way you like it. No more hot hamburgers, hotdogs and donuts on the sidewalk. If you have been thinking of how to get yourself into a healthy diet routine, then launching your business from home is a perfect way to start.
Con: As much as launching your business from home lets you enjoy homemade meals at any time, that idea of having your kitchen close by and not being able to resist the urge to grab a bite each time the thought of munching on something comes to your mind is a downside of this advantage. In some cases, you may find yourself taking unwarranted trips to your kitchen just because it’s a few steps away rather than staying put and accomplishing the task at hand.
Launching a business from home is a dream come true for some, while it can be a dread to others dread to others. The key to making it work is staying focused and organized. It’s easy to get sidetracked by both big and little things, but if you remember the reasons why you started the business in the first place and constantly remind yourself on the need to stay on track, then you may be able to put the advantages to good use.