BY MINDY LILYQUIST Updated November 28, 2018
Many people are attracted to the idea of working from home, but often they let fears and myths about home business keep them from pursuing it. Starting a full or part-time home business is a major decision that requires research and planning that can seem daunting. But before you put off or dismiss starting a home business, consider these 10 reasons why you should work at home:
1. Control Over Your Schedule
Being in charge of your day is one of the biggest benefits of working from home. You can set and customize your work hours to meet the needs of your personal and family life. Do you wish you could take a power nap in the middle of the day? You can as a home business owner. Do you do your best work late at night, you can schedule your work time then.
But, with this new found freedom comes distracting temptations and the risk of procrastinating on work-related tasks. You’ll want to make sure you have the right entrepreneurial traits and a good daily organizational plan to handle this new responsibility.
2. More Time for Parenting and Personal Pursuits
If you feel like your job is taking up too much time, having a home business could be the solution. Having a flexible schedule means you can make time for your kids and family, or pursue other interests. If you want to homeschool while running your business, you can.
However, achieving work/life balance does take some planning and time management. In some cases, you may still need to arrange for childcare.
3. Make Money Doing Something You Love
One of the best aspects of starting a home business is being able to turn a hobby or a passion into income. In fact, you’re more likely to achieve success if you focus on pursuing your passion for profits when starting a home business.
4. No More Commuting or High Car Expenses
Working outside the home not only takes a lot of time, especially if you have a long commute, but also job-related expenses. Americans spend an average of $386 per month on gas. Cutting down on a daily commute would put some of that money back in your pocket. Other expenses many don’t consider are tolls, wear and tear on the car, and more frequent tune-ups.
5. Control Over Income
Many people choose not to start a business because they worry about making a consistent, livable income. While the potential ebb and flow nature of running a home business is something you need to consider, the reality is that a home business can allow you to earn what you’re worth, and more than a job.
As a home business owner, you set your income goals, and your product or service prices. As long as you do the work that needs to be done, such as drumming up new customers and marketing your business you’ll make a profit.
6. Tax Benefits
A big perk of working for yourself is the tax advantages not given to employees. You can write off equipment, supplies and even a portion of your home or car if it is appropriate. Some of these expenses you currently have but don’t get a deduction for, such as the Internet.
Further, in a job where you pay taxes on your total earnings, in a home business, you can deduct your expenses first, and pay taxes on net income. With that said, it’s important to learn about home business deductions to ensure you’re following proper tax laws. Ideally, you should consult a tax expert.
7. Control Over Your Work Attire
No more blazers and dress pants. No more ties or pantyhose. You can wear whatever you want in your home office. If you’re most comfortable and inspired in your fluffy bathrobe, you can wear it every day if you want.
One note of caution though, work attire has been shown to correlate with productivity levels. So, just because you can wear your jammies, doesn’t always mean you should. You may find a business casual environment in your home office helps you get more done during the day.
8. No Boss
A home business is ideal for someone who doesn’t like to be told what to do. You can do the work in the way you feel is best.
Further, home business owners don’t have to feel guilty for showing up late (unless of course, it’s to an appointment). There’s no having to ask for time off or calling in sick. There’s no one looking over your shoulder to make sure you’re working.
9. Greater Levels of Satisfaction
There is a direct link between personal satisfaction and happiness. When you are doing what you love and/or achieving success at it, you are destined to be happier. This happiness and satisfaction will permeate all areas of your life. You will be more pleasant to be around, you will exhibit greater patience, and those who are happier, live longer.
10. Learning New Skills and Growing Professionally
Too often, employees end up feeling stuck in their jobs; their lives filled with the same drudgery every day. In a home business, even if you’re day-to-day tasks are relatively similar, there are so many opportunities to mix things up. You can work from a different location. You can change your schedule or the order of the tasks you have to do.
Starting a business in and of itself requires learning new things.To stay competitive, you’ll want to continue study and keep abreast of current trends in your industry or small business management. In essence, you design your day and what you do, which allows you to expand and grow your skills and your business.