This article will concentrate on self employed small business operators who face the choice: rent commercial space, or work from home. As with any choice in business, there are both advantages and pitfalls. Let's look at them.
Advantages.
Convenience. What could be simpler? Finish breakfast and walk a few steps to the office! Come home for lunch every day, and say good bye to afternoon traffic. Yes convenience is certainly a tick in the plus column when evaluating whether or not to work from home.
Economy. For a start your vehicle costs will be substantially reduced. When you add up on what you'd otherwise spend on petrol, parking and wear and tear, you realise just how much money NOT using your car can save. Then factor in the cost of the rental you would otherwise be paying on the commercial space, and the savings can really add up.
Lifestyle. Say you have a toddler who would otherwise be in day care. Working from home can mean avoiding that expense, as well as giving you a far better relationship with your youngster.
Pitfalls.
Discipline. It's a slow day - what's the harm in locking up, taking the cordless phone with you and going to the lounge room to watch a DVD? Yes, discipline is a real factor when working from home. You need to consider yourself 'at work' as soon as you enter your work space. Punctuality also comes under this heading. While it mightn't seem a big deal to open the door at 9.30am instead of 8.30am because you had a few drinks last night, it is! You will find you are granting yourself more and more 'relaxations' until you might as well not bother opening at all.
Privacy. Remember your business address is also your home. What will be your reaction when the occasional customer knocks on your door on a Sunday afternoon to ask for this or that?
Isolation. Remember the camaraderie you had with the other traders in your old centre? The morning teas and drinks on a Friday afternoon? These will not be there if you work form home - remember this.
As mentioned above, every business decision comes with pros and cons. This one is no exception. Take your time researching the good and the bad, ask plenty of advice and then make your decision from a position of knowledge, not blind faith
