Working at Home… Is it as great as you think it will be?

I think nearly everyone dreams about the freedom of working for themselves, having their own home business.  For most, it remains a dream.  Over the past several years, however, there has been a dramatic increase in home-based businesses. 

More people want to raise their own children, instead of placing them in day care and missing out on all the milestones.    The cost of day care, gasoline and maintaining a vehicle can take a huge chunk out of their paycheck.  For those with a low to medium-sized income, they may not even take home enough to make it worthwhile to have a job. 

Those who are seriously considering working from home have a lot to consider before quitting their job.  There are pros and cons that come with owning a home business. 

Self-discipline can be the difference between success and failure in a home business.  Some people are not self-disciplined enough to “be their own boss.” 

Entrepreneurs must determine a work schedule, and stick to it; and they must be able to balance work and home life.  If they have young children, will they be able to focus on work at home?  Will the family support their efforts and respect their work time?  Or, will they think that they should be available at all times?

For most people, a job offers a stable income, and receiving a paycheck on a regular basis.  Those who work at home may be giving up health insurance or a retirement plan.  With a home business, income is not predictable.  Although there is a potential to earn far more than with most jobs, it is just that – potential, not a given.

For households with a single wage earner, it will be difficult at the beginning.  Nearly all home businesses must be built over time.  If the business is successful, their income will grow, but the road will be a bumpy one, with challenges along the way.  Obstacles will appear requiring changes in marketing strategy.  There will be slow periods when it seems the business is going nowhere. 

Many people believe they will work less when they have their own business.  Those who are serious about growing a business, however, may end up working longer hours, not fewer.  Many work harder than they did on any job they ever had.  Success, after all, is dependant entirely on the home business owner. 

Will they be able to cope with the isolation of working at home, or will they go stir crazy without another adult with whom to chat?  Operating a home business requires goal, plans, flexibility, focus, organization, self-motivation and creativity. 

We often hear that most home businesses fail.  In reality, most home business owners quit.  They must prepare themselves for the many challenges that will arise along their path to success.  They must be patient, but persistent.  The road to success will be just a bit smoother for those whose mantra is “Quitting is Not an Option.”

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