Everybody dreams about it - having a leisurely cup of coffee on a lazy morning, enjoying life as your home-based business continues to bring in the big bucks. WellÖ I hate to burst your bubble, but this home-based business thing is HARD WORK, so before you hang up your tie and high heels, here are a couple of good and bad things to expect.
You write your own paycheck
Thatís exactly how it is with a home-based business and being your own boss. YOU WRITE YOUR OWN paychecks! How much you earn depends on how hard you workÖ plus you get to keep ALL the profit. Thereís NO BOSS to tell you that the company hasnít been doing great so all youíre getting is 45 cents as your bonus, while he comes to work the next morning in a bright, shiny new Porsche!
Problem is, you then realize ďHey! Just a minuteÖ Iíve got to put some aside for that rainy day, retirement fund, vacation, etc, etc. Iím MY OWN BOSS NOW!Ē. So you find the paycheck that you actually write for yourself at the end of the month has a few less zeroes in it! Howís that for irony?
Itís hard work
Having your own home based business is a lot of hard work. If youíre used to taking 30 minute coffee breaks on company time, youíre in for a real shock. Assuming youíre running a one-man show (which is usually the case for new start-ups), then youíre likely to find that thereís not enough hours to do all that you want to do, let alone have a leisurely cup of coffee!
The good thing about this is that every ounce of sweat you put into your home business will ultimately yield results. Remember, the pyramids werenít built in a day, but when they were completed, they lasted for generations. Thatís the way it is with your home-based business. Youíre working hard to build a better life and future for your family that will probably last long after youíre gone.
The buck stops where you are
Whether itís a virus that crashes your computer, an unpaid bill or a customer complaining on the phone, when you own a home-based business, the buck stops where YOU ARE! Every problem becomes YOURS. There is no computer division, accounts department or PR department to blame. Itís a bit frightening when you consider that you are the central Ė and probably the only person Ė who can keep your business going.
If youíre worried about making the wrong decisions, let me put your mind at ease Ė YOU WILL! You ARE going to make wrong business decisions, but donít let it discourage you though, because even big-wig CEOs make mistakes. Will there be tough times? DEFINITELY. Tough times bring out the best in people and every mess you get INTO and OUT OF, makes you a better person - smarter, tougher and more resilient. After youíve gone through a couple of ups and downs, youíll get into the groove and go with the flow Ė thatís the way it is with business and thatís the way it is with life in general.
Different type of benefits
If youíre like me, youíve probably grown accustomed to (and taken for granted) the many benefits of a regular nine-to-five job - free medical and dental, vacations, paid training, coffee breaks and the occasional business lunches.
I found that for me at least, running a home-based business has given me priceless benefits. Tops on the list would probably be the fact Iím closer to my family. In addition to taking care my websites and running our home catering business with my wife, Iím also the official driver, handyman and maid all rolled up into one. Even though it gets totally crazy sometimes, I love that Iím always there for my kids. Oh, they still make it a point to drive me up the wall everyday, but Iíd rather be driven up the wall by them than by my maniacal ex-boss.
The Naked Truth
OK, hereís THE NAKED TRUTH about having your own home-based business Ė YOU SET THE RULES, YOU CALL THE SHOTS. That means you can do things anyway you want, from your working hours to your filing system to what you wear (or donít wear!) at work. Careful thoughÖ when you set lousy rules, youíll end up with a lousy system, a lousy business and worse, a lousy reputation. In the end, itís going to hurt that paycheck that YOU write for yourself every month. Just because itís a home-based business doesnít mean that you can throw professionalism out the window. In fact, an even higher level of professionalism may be required because youíre operating independently and competing with established companies.
Of course how much flexibility you enjoy depends on what kind of home business youíre running. Since my mornings are spent taking care of my websites and writing, I donít physically interact with people much, so I do have the liberty of working in my bathrobe or anything else I choose (I leave it to your imagination). While lost in cyberspace, I also have the liberty of snacking anytime I want, which accounts for my growing waistline. Then in the evenings, when my wife and I are busy with our catering business, Iím definitely fully clothed, complete with my tidy apron and smiling my best smile as we take care of our customers.
So What Now?
There you have it folks, my run-down of some of the basic stuff you can expect when you start a home-based business. You may earn less and have to give up some status for the first couple of years, but when you consider the big picture and take into account all the other intangible benefits, thereís nothing quite like being your own boss! As your business grows, youíll be writing yourself bigger and fatter paychecks. Then, you can sit down to that leisurely cup of coffee, enjoying a lazy morning, while your home-based business brings in the big bucks! Care to hang up your tie and heels, anyone?
About the author:
Andrew Shim is the owner and editor of http://www.positivemoneyideas.coma website which offers FREE IDEAS for those interested in starting their own freelance or home based business and http://www.positivetones.coma FREE resource website for Positive Living. He and his wife run a successful home catering business. When not up to his eyeballs in veggie, meat, gravy and being official taster for his catering business, he manages his websites, writes for numerous other sites and magazines and fools around with his kids.