Work for someone else, you get a set amount every week no matter the amount of effort you put into your work. With a home based business, what you earn will depend on how entrepreneurial you are and how focused you are on your business. It’s a cliché but The more you put into something the more you get out. The same applies to the time you spend on a home based business.
By starting a home based business or enterprise you avoid the negative things associated with going to work everyday. Working from home has many benefits. It can however provide many challenges. A lot of people dream of owning a home based business. It does provide an added advantage to your lifestyle with additional income. Time limits can be an issue when you are the sole operator or if your business is not set up to leverage the time of others.
When set-up to leverage time you not only gain extra income, you also gain a time advantage that gives you the freedom to enjoy the fruits of your labour.
Choosing a business venture has proven a challenge to many people. My advice is to look at your hobbies and interests and try and build a business based on them. I personally had a strong interest in Organics and Gardening and I had qualifications in Horticulture. I went searching for a business based around a chemical free philosophy with low start-up costs. I am more than happy with what I found.
You have an added advantage by advancing your hobbies into a business because you will already have experience and you will likely already have the equipment needed to start. This will save you potentially thousands of dollars on Purchasing expensive equipment or for personal training.
Your home based business should include some form of office. In most cases the portion of your home that is used for business purposes can be considered for Taxation purposes. You should speak to your accountant about your individual circumstances. Your office is probably already set up with the essentials like Phone, Fax, Computer and Storage space and Filing systems.
One down side of operating a business from home is you have no shop frontage or drive by promotion. This can be overcome with simple marketing tricks to build your brand or promote your business identity. Car door magnets, Business cards, Trailers or transit signs, Bumper stickers etc. Owning and Operating your own business can be challenging. But it is rewarding.