If you’re anything like me, my biggest accomplishment in life was to be able to support my family with a lifestyle that suited our needs, but also be able to do so from the comfort of my home. As a single Mom it was already a challenge to work a corporate job, full-time and still be available to my children when they needed me the most. My desire to have that work-life balance is what let me to start my own home-based business.
In 2007 I made the decision to leave my corporate job and start a business on my own, I started a Maid Service business, in a recession, and have since gross profits in the high six figures. All while balancing my daughter’s busy schedule.
I am only one of the millions of women and men who have started a home-based business, while the trend seems to be that more women have home-based businesses then men, still the numbers are high for both genders. The high cost in child care has made most families feel like they are working just to pay for child care. Plus with the advancement of technology you can work virtually anywhere. I work at the gym, at the pool, on the beach and while I’m shopping. Smart phones and Ipad’s have made it possible to work anytime, anywhere.
Running a home-based business can have its challenges, however, home-based business have the important element of flexibility not usually found in a traditional 9-5 job. Most entrepreneurs who have a home-based business will tell you they are most likely not ever going to work for anyone again, once they settle into a nice routine, and see that they have so much flexibility, it’s difficult to go back into a schedule that requires you to be someplace else for 9 hours a day.
So what kinds of business are run from home? Well in the past you might have seen the likes of in-home child care, Avon representatives, Mary Kay Consultants etc. Today, any service based business, internet business, e-commerce business; etc can be run from the comfort of your own home.
While it does take a little dedication and tenacity, you can do it and it’s not as difficult as you think! There are several things to consider before quitting your day job, ask yourself the following questions:
- Where will you work? For example will you be going to clients homes, or will they be coming to you. If they are coming to you, then you need to consider having a dedicated office with a separate entrance from your home. Will there be ample parking for your customers?
- Is it permissible to work from your home, check with your local authorities about having a home- based business?
- What kind of insurance do you need to have? Will you have employees or customers visiting your home? If so you need to make sure you have adequate coverage. Check with your current insurance broker and find out what the additional cost will be.