Do it! 3 Reasons to Start Your Home-Based Business
By Cyndy Bolton
Being self-employed can be challenging. It's like flying an airplane. Some days are up, some days are down, but most of them lie somewhere in the middle. Those are the times you find yourself cruising along at an altitude of self- satisfaction, fueled by entrepreneurial energy.
I asked my circle of entrepreneurial friends to supply me with their top three reasons why they would never go back to working for another company besides their own. Here are the results. Read along, you may decide that this is a flight worth taking yourself.
- Control, and a true feeling of responsibility.
"I answer to no one". Well, with most entrepreneurs, we know that this is not necessarily true. If you are contracting, you are always "answering" to a contact for that company. Whether it's a Project Manager, a Human Resources Representative, or a Senior V.P. of "Whatever" department, you are still being direct by the client. Be it the customer who wants their construction project done right and on time, or the editor who set the deadline for your first submission, they are still in somewhat control of your actions. If you wish to look at it from an optimistic perspective, they give you the direction, you apply your skill, and they guide you to an end product for which you get paid – if you meet the requirements.
The difference with being in control as an entrepreneur is that you have the choice of which jobs you will ultimately take on. Do you want to work for Mr. X, or do you want to work for Group Y? You choose. Would you like to create Project A, or contribute to Project B? You decide. It is up to you, and no one else. COOL! - Flex-ability, enabling you to guide your growth.
The second most popular reply was the ability to what you want when you want to do it. If you can work on a project before you take the kids to school, you can. You can now schedule your calendar around your most important things, like family, or other obligations. You can be at home and work until 10:00 pm if you need to.
There is one caveat here. You have to know when to turn it off. In order to be your best for family, friends and clients, you must know when your breaking point is, back off of it marginally and use this point at a cut off for your work. Work needs you at home, but so does your family. Learn where your line is and try not to cross it very often. There are always exceptions, so just use caution and your own judgment. Be your own good boss. - Tax Breaks, find them and use them to your advantage.
Finally, the last most important issue was that of taxation. Before you leap, consult with an accountant about starting out. They may not charge you for this initial session, and their advice during this time could be worth its weight in gold. Bring a pen and paper and jot things down. If you find their advice helpful, consider making them your financial guru.
You only have so many hours in the day, so leave a good part of the financial concern to a professional. Consult with your working peers and friends and see who they use. Word of mouth can do wonders to bridge trust. Your accountant will busy themselves and their staff looking for financial advantages for your company and you. Portions of you vehicle expenses and your communications tools can be applied as business expenses. It never hurts to ask. When you have a question, they will be willing to answer, or find the answer for you.
Be prepared before you take this journey. Like getting ready for a trip, and taking a flight, make sure you have done your homework. Being prepared will decrease your the chances of disappointment. After all, you want it to be as memorable as possible. Ultimately it is up to you, and that is why you are considering this trip, isn't it?