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Advantages of a Home-Based Business

sam12
(@sam12)
Trusted Member

Hello,

According to the SBA home based or small business owners find many advantages to business ownership. And these advantages certainly outweigh disadvantages. And according to the Office of Advocacy there are 26.8 million small business owners in the United States and the number is steadily rising.
You are the Boss

How many people endure a boss that undervalues their contribution to the organization? Or one who takes credit for their hard work. More than you might think! Entrepreneurs who own a business enjoy boss status. Now, they take the credit win, lose, or draw.
A Very Flexible Work Schedule

That's right! Suppose the business owner's spouse works the late shift; the business owner would rather be home during daytime to take care of the children. And would prefer not placing the children into day care. Those who are self employed are easily able to re-schedule their workload to fit their families unique situation.
No Long Commute

Many workers might spend anywhere from 1 hour and up commuting to work each day. Talk about commuting stress. These workers are tired before the workday even starts. Those who are self employed are glad to say goodbye to the long commute. Their longest commute might be a short walk down the hall to their home office.
Goodbye Office Politics

Many have experienced the effects of office politics and how it narrows their career choices; with co-workers positioning themselves with power figures to move up in the organization. Say goodbye to office politics!

Thank you

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Topic starter Posted : 15/02/2010 8:57 am
mike15
(@mike15)
Eminent Member

Re: Advantages of a Home-Based Business

Hello,
Thanks for the nice tips. Keep sharing like this.

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Posted : 24/02/2010 4:42 am
jasmine19`
(@jasmine19`)
Eminent Member

Re: Advantages of a Home-Based Business

The first thing you must do, however, is some basic market research. Find out for yourself, first-hand, just how many people there are in your area who are interested in your proposed product or service, and would be "willing to stand in line and pay money for it." This is known as defining your market and pinpointing your customers. If after checking around, talking about your idea with a whole lot of people over a period of one to three months, you get the idea that these people would be paying customers, your next effort should be directed toward the "detailing" of your business plan. The more precise and detailed your plan - covering all the bases relating to how you'll do everything that needs to be done - the easier it's going to be for you to attain success. Such a plan should show your start-up investment needs, your advertising plan, your production costs and procedures, your sales program, and how your time will be allocated. Too often, enthusiastic and ambitious entrepreneurs jump in on an extra income project and suddenly find that the costs are beyond their abilities, and the time requirements more than they can meet. It pays to lay it all out on paper before you get involved, and the clearer you can "see" everything before you start, the better your chances for success.

Have a nice day

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Posted : 26/02/2010 2:58 am
maahi123
(@maahi123)
Eminent Member

Re: Advantages of a Home-Based Business

Hello
# Personal freedom. If you're used to spending hours in traffic to and from work every day, some of the most exciting advantages to starting a home-based business are your newfound freedom and the retrieval of lost time. The average American spends 348 hours each year commuting, according to the U.S. Federal Highway Administration. Suddenly with a home-based business, you have those extra hours to regain control of your personal life. Plus, there are no bosses, no dress code, no set work schedule, and no office politics to maneuver. All you need is personal drive, discipline, and time-management skills.
# You get to keep the money you make. It’s a simple principle: the harder you work, the more money you can make. Your earning potential is directly proportional to your performance, so you don’t have to wait for a raise or a promotion. You work harder, and you produce more. You'll also save money on gas and food. Preparing lunch at home is more cost efficient and offers a nice break in your workday.
# Increased opportunity. With so many corporations and industries in a slump, starting your own home-based enterprise means you can create your own income-producing opportunities. Good job prospects can be scarce in some industries, and promotional opportunities within major companies are also shrinking.

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Posted : 26/02/2010 4:17 am
andrew16
(@andrew16)
Eminent Member

Re: Advantages of a Home-Based Business

The trend toward home-based business has occurred for several reasons. From the beginning,
the electronic revolution, with its computers, fax machines, copiers, and generally faster, better,
smaller and cheaper office technology has made it possible for almost every family to start a
business from home. Job insecurities and lay-offs have forced white-collar workers out of
corporations. Many of these displaced middle managers have translated their skills into viable
businesses run from their home offices. The trend toward home-based business has also been
fueled by economic considerations such as eliminating rent and utilizing other home-office
deductions. As an additional bonus, having a home-based business has allowed parents to stay
home with their families and address elder care and parental leave without added costs. Homebased
businesses are popular because they can be very successful. They can also turn into
disasters or, at the very least, become unproductive or half-hearted efforts. Here are several
advantages and disadvantages of a home-based business. See if the advantages of basing
your new business in your home outweigh the disadvantages.
Advantages
· Address domestic responsibility: I would be free to care for children, parents, and
household duties.
· Control over work hours: If I don't feel that I have time in my life for another client, I
can say no. I can cut back during the summers, and work longer hours during the
school year.
· Convenience: I would have all the aspects of my life - work, family, social -
consolidated in one place.
· Decreased commuting time: I'd be able to really use the time I now spend traveling
from home to work and back.
· Flexible hours and pace: If I wanted to put in my hours late at night or early in the
morning, I'd be able to do it.
· Independence: I'd not only be my own boss, I'd be my own landlord.
· Lack of workplace distractions: It seems like I spend half my days chatting with other
workers - I could take back that time for working, and earning money.
· Low overhead expenses: I'm already paying for the space I live in and the utilities I
use; why not make the most of it?
· Tax advantages: The government offers tax breaks for business use of the home: I
could use a tax break.

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Posted : 27/02/2010 4:41 am
hansh
(@hansh)
Eminent Member

Re: Advantages of a Home-Based Business

# Personal freedom. If you're used to spending hours in traffic to and from work every day, some of the most exciting advantages to starting a home-based business are your newfound freedom and the retrieval of lost time. The average American spends 348 hours each year commuting, according to the U.S. Federal Highway Administration. Suddenly with a home-based business, you have those extra hours to regain control of your personal life. Plus, there are no bosses, no dress code, no set work schedule, and no office politics to maneuver. All you need is personal drive, discipline, and time-management skills.
# You get to keep the money you make. It’s a simple principle: the harder you work, the more money you can make. Your earning potential is directly proportional to your performance, so you don’t have to wait for a raise or a promotion. You work harder, and you produce more. You'll also save money on gas and food. Preparing lunch at home is more cost efficient and offers a nice break in your workday.
# Increased opportunity. With so many corporations and industries in a slump, starting your own home-based enterprise means you can create your own income-producing opportunities. Good job prospects can be scarce in some industries, and promotional opportunities within major companies are also shrinking.

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Posted : 05/03/2010 3:11 am
ronny21
(@ronny21)
Eminent Member

Re: Advantages of a Home-Based Business

Hi

You will be freed from thinking of the hassle that if your staff will resign immediately, there will be no one to man your place. Furthermore, you need not to worry about paying overhead costs that you usually do if engaged in a business with a physical space. As a beginner, you can look for a domain at a cheap cost and you can also avail of the free domain and hosting valid for one year.

People from all over the world are lured to use the internet for various reasons, may it be for research, finding a match or simply because they want to purchase something. It has become a trend for most consumers these days because surfing the internet is very easy and convenient. Think of the accessibility of this phenomenal innovation. You can sell your products and services both in the local and international markets which means that you can boost the potentials of your business.

You can reach out to any part of the world with your products to be seen without having to spend additional expenses when you sell locally. With online business, you can aquire new customers and invite boundless opportunities at a relatively low cost.

In the internet business
, you can increase your profits in no time because you get the advantage of offering your products twenty four hours a day seven days a week. Online shoppers can order or make inquiries anytime, anywhere at their convenience without having to deal with any additional costs on your part. Your customers can enjoy their physical comfort by paying you through several internet banking tools.

Thanks

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Posted : 05/03/2010 6:23 am
jhonrambo47
(@jhonrambo47)
Active Member

Re: Advantages of a Home-Based Business

Hello Friends,
Advantages of home based business:-
1. cheaper than renting and you can deduct business taxes for the use of your home (for example, property tax, utilities, repairs and maintenance, home insurance and an interest portion of mortgage or rent)
2. no commuting
3. set your own hours of work
4. more comfortable working environment
5. you can put as much time as you want into the business
Thanks.

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Posted : 06/03/2010 4:07 pm
rob24
(@rob24)
Eminent Member

Re: Advantages of a Home-Based Business

Hello To All

1. Very small start-up costs: You can save on the real estate mortgage/lease and staff in addition to huge marketing costs unlike the offline home based businesses. Most small home based online businesses are managed by less than 5 people. This is the most suitable business category for a start-up.
2. Very quick set-up and start: As soon as you get your website launched, you can have your home based business started. No long waiting periods, spending large amounts of money or getting loans.
3. Greater reach online: Your home based business website announces to the world your services/products and penetrates your markets.
4. No or low expenses: Apart from web hosting monthly payment, there is hardly any additional expense to buy or sell online. Your customers see, check, compare your/competitors’ products & order and pay online.
5. Be your own boss and keep what you earn: As an owner of home based online business you choose what to sell and when to work. Take a day off when you want to.
6. No commuting: No commuting at all, if you have a home based business. Save on gas, time and have more family time. There are also tax deductions available if you have a home based business.
7. One business multiplies as many: This is something you can’t do with an offline business. Suppose your online home based business is selling greeting cards.

Have a nice day

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Posted : 10/03/2010 7:19 am
HPvD
 HPvD
(@hpvd)
Estimable Member

Re: Advantages of a Home-Based Business

One of the advantages is
that Home Business owners are 'Happier',

Because according to the Gallup Healthways Well Being Index,
the Overall Well Being of Business Owners is the highest compared to other occupations.
(See this research at: http://hpshappyhomebusiness.blogspot.com/2009/11/business-owners-well-being.html )

All the Best,
To your Happy - Home Based Business - Inspiration,
HP

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Posted : 11/03/2010 8:35 pm
nick25
(@nick25)
Trusted Member

Re: Advantages of a Home-Based Business

Hello,

Many people are now looking to work from home, essentially opting-out of the rat race to spend more time with their families. As you can imagine, there are plenty of benefits of having your own online business. Today, I will briefly talk about 9 of the most important advantages of working from home as an online entrepreneur.

Here are the 9 benefits in no particular order:
1. Gain Personal Freedom - No more commutes = more time = more money. You'll spend less money on gas and you won't have to answer to a boss or wake up to an alarm clock.

2. More Mobility – You work from wherever YOU want: from home, from the beach, from a coffee shop. Anywhere.

3. Actually Keep the Money You Make – Simple Principle: The harder you work, the more money you earn. Every hour you spend will directly help build your bottom line.

4. Tax Advantages – Using your home as a place of business offers a number of tax deductions including (home office deduction, transportation, phones and communications, a portion of utilities, office furniture etc.) I've personally saved thousands in tax dollars since I started online.

5. Join a Rapidly Growing Industry – Unlike the rest of the economy, online business is thriving. Today, with rising unemployment and massive layoffs, more and more people are looking online for entrepreneurial ways of making money. Millions upon millions of people are estimated to join home-based businesses in the next few years. Started now ensures that you take advantage of this.

6. Less Stress – Although success in online business does require consistent effort, working at home allows you to set your own schedule, and therefore more effectively juggle the commitments of family and daily life.

7. Increased Opportunity – With the economy down, being in online business allows you to create your own income-producing opportunities. As a home-based entrepreneur, you won't have to worry about the economic downturn affecting your job or future promotions.

8. Less Risk - Running a business from home takes much less startup money than a freestanding business, or even a franchise location. Once your business is up and running, it will cost much less to maintain as well

9. Make More Money - No longer will you have a ceiling on your income. In the corporate world, if you're lucky, the best you can expect to achieve is a 5-10% raise per year. Online, as your knowledge grows, so will your income.

Thanks for sharing

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Posted : 12/03/2010 7:17 am
Bruce001
(@Bruce001)
New Member

Re: Advantages of a Home-Based Business

The main advantage of having a home based business is that you will be tension free and will be flexible for working instead of working the normal 8-5 job. Internet is widely used in this generation and so you can build residual income using proven internet marketing techniques and start seeing success immediately.

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Posted : 16/09/2010 9:12 am
Arlen
(@Arlen)
Active Member

Re: Advantages of a Home-Based Business

Hi
A cost effective way to creating supplemental income is through working at home. There are literally 1000's of people working full time jobs and coming home to their own small home business.

A home based business can your taxes:
Even if you were to make $0 dollar from your home based venture, the tax benefits alone are incredible.

Thanks

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Posted : 17/09/2010 1:30 pm
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