Pros and Cons of Running a Home Business
Operating a home-based business is more than a notion. Bill Boudreaux, president and founder of Minority Business Options LLC and author of The Complete Startup Guide for the Black Entrepreneur (Career Press), outlines in his book some pros and cons of working from home.
ADVANTAGES
* No commuting. AVG Americans spend 348 hours each year commuting.
* Being your own boss. The buck stops-and starts-with you.
* Lower operating costs. Avoids paying office rent and other costs.
* Flexible work schedule. You can vary your work routine to suit you.
* Opportunity to employ family menbers. This can be beneficial if you don’t allow them to abuse privileges.
DISADVANTAGES
* Perceived availability. Family / friends demands “you’re home.”
* Limited living space. Business activity spills into your home.
* Need for strict discipline. You can’t afford to let things slide. You must guard against distractions and develop a solid work ethic.
* Longer work hours. Your work hours bleed into family time and space.
* Loss of fringe benefits. When you’re self-employed, you’re responsible for your own health 1 benefits and retirement plan.
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