Being a Business Person at Home
In recent years due to downsizing, and other money saving cuts, many individuals caught up in this scenario have made the transition from the corporate climate to a home-based entrepreneur. Most likely, your office is a spacious room, lighted by picture windows overlooking a grassy expanse of manicured yard, surrounded by lush forest as you notice a deer calmly walk across your yard.
Ahhh yes, this is the life of Riley! Calming, peaceful, really productive.
Well, the thought is certainly a good one. But it doesn’t always turn out like that.
To think about:
HAVING A HOME-BASED BUSINESS IS GREAT, but it’s far from picture-perfect. Let’s take a look at the average home office setting.
Generally those who set up a home-based business do so initially on the dining room table or some other tight space. So there is a need to consider where you can operate your business from.
Then there’s the issue of the separation of home and office. If you love your work, as most home-based professionals do, there’s the tendency to shirk all else. Friends, family, and even children can get pushed aside to meet those ever-present and persistent deadlines.
Of course, you’ll never worry again about playing Tetris on your computer during work hours. Now, you can play all day, fearlessly. Profit might drop a little, but you’re the boss, of your own business venture. Nobody can tell YOU how and when to work. However, goal setting and motivation are absolutely essential to a home-based business.
In contrast, to be a home entrepreneur, you must be self motivated, and be able to push yourself to succeed without someone looking over your shoulder.
At home there is still other work that needs to be performed, cleaning, cooking, taking out the garbage and of course caring for the children if they are not at school.
DON’T BE FOOLED, a home-based business offers benefits that far outshine the best bank savings investment. Here are the obvious: greater flexibility with your work schedule, allowing your time to be distributed differently through the day, no time wasted commuting and polluting, and the chance for you to “be there” for your children. You can also go and have lunch with someone without having to look at the clock, or go golfing without a guilty conscience.
IN SOME lands certain kinds of insurance are compulsory. In others, most kinds are practically unknown. In addition, the cost of insurance and the type of coverage provided vary widely from country to country. But the fundamental principle of insurance—sharing risk—remains the same. So consider the costs involved.
Naturally, the more property a person owns, the more he has to lose. Similarly, the more family responsibility a person has, the greater the impact if he or she dies, or becomes physically disabled. Having business insurance can alleviate one’s concern about the possibility of suffering a loss of property, including your business assets.
Yet, is it wise to spend money on insurance even though a claim may never be made? Well, is keeping a spare tire in the car a wasted investment, even if the tire is never needed? The sense of security to the car driver may make the expense of the extra tire worthwhile. While financial compensation cannot make up for certain losses, it may compensate for other losses.
So now you may be on the way to having your own home-based business. But before you leap, take a good look. Says writer Joan Libman: “Slowing down can save you from some dreadful, as well as costly, mistakes.” Organizing yourself, studying your market, planning your finances and getting advice are some of the suggestions she offers for the would-be, home-based entrepreneur.