Without question the greatest lure for starting and running a business is the fact that you become your own boss. Of course, this is only partly true, for the simple reason that your customers will always be your bosses. I have been self-employed in various ventures for a number of years, with the majority being operated from my home. For me the lure of self-employment is the freedom, hands down. It is not so much the ability to create a significant income or the potential to generate equity, it is the sense of freedom and independence that being your own boss brings. What this means is that you can establish your own work schedule, you can work at any pace you desire, and you can earn how ever much you wish. Just so long as the work is getting completed, your customers and clients are delighted with your work, and you are meeting deadlines. And you can do all this in your slippers and bathrobe if you would like, unless someone is coming over for a meeting. More importantly, you can see goodbye to office politics.
Though it is probably not a very valid reason to begin a home business mainly to make big money, but it is correct that most folks have more potential to create higher incomes by owning and operating their own business than they do working for someone else. Why? When you work for someone else, there is only you and so many hours in the day to work for an hourly wage or a commission.
However, when you operate a business, you can duplicate yourself by hiring employees and sales people to increase revenues, you can duplicate your customers and find more to purchase your goods or services, you can scale up your business model and venture into new geographical regions, and you can replicate and grow the amount of products that you feature in your business. After building a business that is creating a good source of revenues and profits, you can then duplicate the thing that works which will dramatically boost your personal income and equity.
Even without duplicating, you can set your own wages, put in more hours to complete a job if necessary, and remain in control of that project. Too often in a business, you will have to wait for nine other departments to get on board before you can finish a task. Working on your own, you can determine how long each task will take, charge accordingly, and complete the job on your own if it is feasible.
When you have the power to mold your own work environment and the capability to operate you business as you desire, there are even more primary advantages of operating a business from home. If you so choose, you can spend some of these commuting hours getting work done or enjoy more time with friends.
The typical employee will usually commute at least one total hour each day. This is an additional five hours each week to do as you wish. If you desire, you can exercise or jog right before lunch, pick the kids up after school, be at home to let the TV repairperson in, and do a host of other personal activities on your schedule, without sacrificing any of your business responsibilities.
You also have the opportunity to work in an office setting of your choice, decorate as you like, and decide which high-tech and no-tech appliances are to your liking. For the millions of people who have moved from cubicles to home offices, these personal choices are a major factor. In addition, those who are green conscious can regulate their own heat, turn off unused lights and even go solar-powered if desired. While lots of businesses today are joining the green environmental movement, there are also lots who are not. As your own boss, you are free to do so and experience that joy of doing something wonderful for Mother Nature in your little piece of the world.
Operating a business from home also qualifies you for any number of the tax benefits associated with operating a business, even if you work a regular job and operate your business only part time. As soon as you open for business, a portion of your utility bills are tax-deductible against business revenues, a portion of your transportation costs (equal to the percentage of time and mileage your car is used for business) are tax-deductible, and even this book that you just purchased is an allowable deduction for educational purposes. While you will pay some self-employment taxes, you can typically benefit by more deductions with a home-based business. - 15790
Though it is probably not a very valid reason to begin a home business mainly to make big money, but it is correct that most folks have more potential to create higher incomes by owning and operating their own business than they do working for someone else. Why? When you work for someone else, there is only you and so many hours in the day to work for an hourly wage or a commission.
However, when you operate a business, you can duplicate yourself by hiring employees and sales people to increase revenues, you can duplicate your customers and find more to purchase your goods or services, you can scale up your business model and venture into new geographical regions, and you can replicate and grow the amount of products that you feature in your business. After building a business that is creating a good source of revenues and profits, you can then duplicate the thing that works which will dramatically boost your personal income and equity.
Even without duplicating, you can set your own wages, put in more hours to complete a job if necessary, and remain in control of that project. Too often in a business, you will have to wait for nine other departments to get on board before you can finish a task. Working on your own, you can determine how long each task will take, charge accordingly, and complete the job on your own if it is feasible.
When you have the power to mold your own work environment and the capability to operate you business as you desire, there are even more primary advantages of operating a business from home. If you so choose, you can spend some of these commuting hours getting work done or enjoy more time with friends.
The typical employee will usually commute at least one total hour each day. This is an additional five hours each week to do as you wish. If you desire, you can exercise or jog right before lunch, pick the kids up after school, be at home to let the TV repairperson in, and do a host of other personal activities on your schedule, without sacrificing any of your business responsibilities.
You also have the opportunity to work in an office setting of your choice, decorate as you like, and decide which high-tech and no-tech appliances are to your liking. For the millions of people who have moved from cubicles to home offices, these personal choices are a major factor. In addition, those who are green conscious can regulate their own heat, turn off unused lights and even go solar-powered if desired. While lots of businesses today are joining the green environmental movement, there are also lots who are not. As your own boss, you are free to do so and experience that joy of doing something wonderful for Mother Nature in your little piece of the world.
Operating a business from home also qualifies you for any number of the tax benefits associated with operating a business, even if you work a regular job and operate your business only part time. As soon as you open for business, a portion of your utility bills are tax-deductible against business revenues, a portion of your transportation costs (equal to the percentage of time and mileage your car is used for business) are tax-deductible, and even this book that you just purchased is an allowable deduction for educational purposes. While you will pay some self-employment taxes, you can typically benefit by more deductions with a home-based business. - 15790
About the Author:
Wanting to fire your employer and work at home? Check us out for some great stay at home jobs and other home based employment.