Pro's and Con's of Working From Home

There are advantages and disadvantages to working at home. Know what they are before you start so you can avoid pitfalls later on.

It's important to know you can handle all the different aspects of working at home. Although there are wonderful benefits to being self-employed, there is a negative side to everything. Make sure you know the difference and the benefits outweight the potential problems.

Pros:

Lower startup costs - Working from home greatly reduces the initial expense of starting a business.

Less stress - Fewer irritants such as florescent lights, coworker gossip and hawk-eye bosses. As stress decreases, productivity will increase.

Tax benefits - There are many important tax breaks in having a home based business. Be sure to check with your tax advisor to make sure you get the most deductions you can without setting off IRS flags.

No commuting - Freedom from driving to the office each day and getting stuck in traffic, not to mention the gas savings.

Lifestyle flexibility - Working from home allows you more time to spend with your family. No daycare costs and freedom to work when it is convenient for you are a definite plus.

Flexible work hours - You control when you work, how you work, what you wear to work and how long you work. This is a nice benefit, especially if you are well disciplined to get things done.

Increased income - Unlimited income possibilities.

Cons:

Isolation - Many people can not deal with the isolation that accompanies working at home. Make sure to have social activities along with your work schedule.

Space limitations - The obvious, having to make enough space for you to comfortably run your business and still keep your business/personal finances separate. Using a spare bedroom, is a good option if you have the space available, if not, just make sure you have an area that is at least semi-private to enable you to work comfortably.

Security concerns - Working from home can cause concern when business meetings are scheduled. Make appropriate plans for meeting clients and customers in a public place if you are concerned about having them in your home.

Household interference - This can be a problem for those who are raising small children. The distractions throughout the day can make it difficult to concentrate at a task at hand. Make sure your family knows that when youre working, interruptions should be kept to a minimum.

Overworking yourself - Often when working from home, we don't quit at the end of the day, but rather try to finish up a project, thus we end up working into the wee hours of the night. This can quickly lead to burnout which can cause problems with your business, your family and your own health.

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