A home-based business means that you’re able to have a business from your home or anywhere that you have an internet connection. The beauty of it is you can do your business from anywhere in the world as it allows you to have complete freedom and control over your life
There are so many advantages to having a home-based business. But I will say it’s not going to be for everyone. For some these advantages, will prove out to be disadvantages.
Advantages to a home-based business are:
Personal freedom – your able to claim some of your time back. No more sitting in hours of traffic to and from work every day. You will have those extra hours to regain control of your personal life. Plus, there are no more bosses, no set schedule, no dress code and no office politics.
No money cap – Your able to make as much or as little income you want. The harder you work the more you can make. There is no one telling you how much you can make or capping your salary. Or even worse in today’s market reducing your income even though you’re still doing the same work.
Increased opportunity – With so many companies struggling today there is a ton of opportunity for you to create your own income-producing business. You can also create multiple streams of income with just one idea.
Less risk – Running a business from home takes much less startup cash than a freestanding business, or even a franchise location. And once your business is up and running, it’s cheaper and easier to maintain than a separate business location.
Tax advantages – There are several tax advantages to having your home and office under one roof. You can deduct a part of your home’s operating and depreciation expenses on your home as business expenses. There are also many other items you can claim within your business.
More time – You can set your schedule how it works best for you. Some people prefer to get up early and knock out 4 hours before the rest of the world have even begun. You also have no travel time so it gives you time back in your schedule.
Less stress – It’s a little less stressful to juggle the demands of work and family when you know you can stay home to care for a sick child and generally set your own schedule. You also get to call the shots in your business which is better than having someone on your back. But for some people this can cause more stress.
Professional and personal growth – Being your own boss gives you the chance to wear a lot of hats: sales director, marketing professional, strategist, business development manager, and more. This gives you insight and experience with all the aspects of running a business, which, in turn, makes you even more marketable.
Creative outlet – Launching your home-based can be an opportunity for you to give birth to your passions and hobbies and create a money-generating outlet for your unique and creative talents.
There are several different types of home-based businesses. you can do affiliate marketing, network marketing, information sales, consultant, coach and services. These are some of the common ones that are out there.
Don’t forget to download my free guide on “How You Can Turn 3-5 Hours A Week Into a Profitable Business.”