Having a Home Business

Having a Home Business

All of us have fantasies of sipping our morning coffee on the couch as our home-based businesses continue to bring in the big bucks. Well... I'm sorry to burst your bubble, but starting a home-based company is HARD WORK. Here are some positive and negative things to anticipate.

You're in Charge of Determining Your own Compensation

With a home-based company and being your own boss, that's precisely how it works. It's up to you to write your own cheques! If you work hard, you'll make more money than if you don't. No one will inform you that the firm hasn't been doing well, so you'll only receive 45 cents as your bonus, while your boss will arrive at work in a gleaming new Porsche the following day!!

The problem is that you then realize "Hey! Just a second...? I need to save some money for the future, whether it's for a rainy day, a retirement fund, or a trip. "I AM NOW MY OWN BOSS!" So at the end of the month, you realize that your actual paycheck has a few less zeroes in it! So much for irony, huh?

It's a Lot of Labor

It takes a lot of effort to run a successful home-based company. Those of you who are used to 30-minute lunch breaks will be in for a rude awakening. There will be no time for a cup of coffee if you are operating a one-man show (which is frequently the case for young start-ups), so don't even think about it!

The benefit of this is that your home company will reap the rewards of every drop of sweat you put into it. Because they took a long time to construct, yet once they were, the pyramids stood for eons. In your home-based company, it's the same. A better life and a better future for your family is something you're working hard to achieve, and it will likely continue long after you're gone.

Everything Begins and ends With You

Owning a home-based company means you're responsible for anything that goes wrong, whether it's a virus that destroys your computer or an unpaid account. Every issue is yours to deal with. We can't point the finger at the IT department, the accounting department, or the public relations department for this. It's a little unnerving to think that you're the only one who can keep your firm afloat.

The only person who can guarantee that you won't make the incorrect choices is yourself! Don't allow the fact that you're going to make bad business choices to discourage you, since even CEOs make them. Will the going become tough? Definitely. Through your experiences in adversity, you become a better person. It makes you stronger, sharper, and more resilient. In business and in life, you'll get into the groove and go with the flow after a few bumps in the road—that's how it works, and that's how it works.

Different Kinds of Advantages

Regular nine-to-five employment has its perks, and if you're like me, you've become used to them (and taken them for granted). Free medical and dental care, paid vacations, paid training, coffee breaks, and occasional business lunches are all included.

Running a home-based company, at least for me, has provided invaluable advantages. The fact that I'm nearer to my family is perhaps the most important. We have a home catering company, and in addition to operating it and taking care of my websites, I also serve as the family's official driver, handyman, and cleaner. I cherish the fact that I am always there for my children, despite the fact that things might become stressful at times. They still make it a point to push me to the limit, but I'd rather be pushed to the limit by them than by my insane former employer.

The Unvarnished Reality

The truth about running your own home-based company is as follows: Set the rules and call the shots; it's up to you! From your working hours to the way your files are organized to what you wear to work, you have complete control over your life. Be careful, however... You'll have a bad system, a bad company, and a bad reputation if you establish bad rules. In the long run, it will have a negative impact on your monthly paycheck that you write for yourself. Even when you're working from home, it doesn't imply that you're exempt from the rules of professionalism. In fact, since you're working on your own and competing with established businesses, you may need a greater degree of professionalism.

The degree of freedom you have as a home business owner will, of course, be determined by the nature of your enterprise. Working from home in the mornings means I don't have to worry about getting dressed in the morning, so I can work in whichever outfit feels most comfortable (I leave it to your imagination). Having the freedom to eat whenever I want while immersed in the virtual world has contributed to my expanding weight. As for my nights, when my wife and I are working for our catering company, you can bet I'm dressed to the nines, sporting my finest grin while seeing to the needs of our guests.

What's Next?

Those are some of the fundamentals of starting a home-based company, people. I hope this was helpful. For the first few years, you may have to make do with less money and less prestige, but when you look at the big picture and all the other intangible advantages, being your own boss is unbeatable! You'll be able to afford larger and fatter salaries as your company expands. Afterwards, you may have a leisurely cup of coffee as your home-based company pulls in huge dollars! Are you ready to put away your tuxedo and high heels?