|In any successful business operation, the secret ingredient is planning and vision. The age that failing to plan means planning to fail is especially true of running a business. Without good plans, a business is totally at the mercy of fate, ruled by laws based on random probability, rather than sound judgment. In this situation, instead of you running your business, it runs you. The ways to avoid this is by taking the time to formulate your objectives before starting your business. This entails analyzing your reasons for wanting to go into business in the first place, rating your abilities in different areas, and determining which kind of business best suits you.|
What do I get from this home based business?
"What do I get from this home based business?" is the first question you should ask yourself. Forming and operating your own business requires investments of money, time, and energy. In exchange for the opportunity of owning your own business, you give up the benefits that employees take for granted: Job tenure, a regular paycheck, paid holidays, vacations, and sick leave, a company insurance plan; and the ability to leave your job behind at the end of the day. It's only logical that you should want to know what to expect in the form of a return on your investment - not just in dollars, but in satisfaction and personal success.
The advantages of owning a business: The number of new businesses started in the United States each year is currently growing at a faster rate than the population - clear evidence that owning a business is perceived as offering certain advantages. Those mentioned most often includes:
Control: The authority to make decisions rests with you. As the boss you have the power to direct all the activities of your business.
Creative Freedom: Without the restriction imposed by set policies and the need to go through channels, ideas and talent can be freely expressed.
Profits: The more successful your business is, the more money you can make. Whereas employees' salaries are generally dependent on budget approvals and cost of living increases, yours is directly linked to performance.
Job Security: Since it's your business, you can't be fired, laid off, or forced to retire.
Pride: There's the satisfaction that comes from knowing you have built your business into a successful operation through your own efforts.
Disadvantages of owning a business: Being a boss does not come without its disadvantages. Among those most common are mentioned below.
Long Hours: Keeping your business going is rarely just a 9:00 to 5:00 proposition, especially in the beginning. You might need to be prepared to put in 10-12 hours a day to make it work.
Income Fluctuation: Instead of receiving a regular paycheck, your income is going to fluctuate with the ups and down of the business - are you prepared for it?
Risk of Investment: If the business fails you could lose your entire investment. In addition to this, your personal assets may be jeopardized.
Responsibility: The freedom to make decisions carries the burden of standing by them. If anything goes wrong - you did it, and ultimately you're the one who will be responsible for it.
Pressure: There's always the pressure to please customers, meet your payroll and satisfy creditors' demands.
Regulations: You must abide by federal, state and local laws, as well as the safety stipulations imposed by your insurance carrier.
But Online Work at Home Business and off-line Work at Home Business is totally different. If you are involved in an online Work at Home Business that gives yourself a lot more free time, hence you can spend more time with your family.