Is a Home Office a Good Option for you?

So you are planning to set up the office of your small business in your very own home. Seems like a good idea when you consider the fact that:

Ø  You will not have to commute

Ø  You will be saving so much on the rent

Ø  You will enjoy tax advantages

Ø  You will have to face no hassles or inconvenience

But despite all these advantages, there are downsides too which can affect the success of your small business. So before you open up your home office, do consider both sides of the coin, and then go ahead and make the decision.

In this article, we will present both the advantages and the disadvantages of having a home office to give you a better idea of what is involved in each case.

The Brighter Side Of The Picture

Working from home sounds good, right? It is when you look at things from this perspective.

Comfort and Comfort at Prime

Home is the place where everyone is most comfortable. This keeps you in a relaxed state of mind, decreases your stress levels, and may result in more energy and increased productivity. So if work always pressurizes and keeps you on your nerves, you might be better off with setting up your office in your own home.

No Need To Decide On An Outfit Every Day

How much time do you spend in thinking what to wear to work the next day? If you are too conscious about your dressing, maybe you should start working form home. There will be no need for you to spend time going through your wardrobe and you would not have to worry about ironing. And yes, this also means less laundry to take care of.

Choose work from home, and you can spend the entire day in your pajamas while still doing all your essential tasks.

No Commuting And No Spending Anything On Gas

Probably one of the best parts about working from home. You do not have to commute anywhere, which saves you a considerable amount of money on gas. Being a small business owner, you should save in each and every way you can and always have some emergency funds ready with you.

Taxes Go Down

Another reason why people opt for home businesses. The tax advantages you get this way are numerous. From deducting your rents, phone bills, electricity, and other utilities to enjoying a number of tax credits, there are so many tax advantages for you to enjoy. The net result? Your taxes go down significantly.

We suggest that if you have a home office and are preparing your returns, you should have a word with a reputed accountant to ensure that you are availing all possible tax deductions and credits.

Alarms Are No More A Bother

Do you hate that tring tring sound of your alarm early in the morning? When you are your own boss and working from your home, the alarm will not be a problem anymore. Get up at any time that you want as long as you can finish all you tasks for that day at the end.

And there is one more thing worth mentioning: working from your home allows you to take a power nap whenever you desire.

Flexibility, And So Much If It

Do you have family whom you need to tend to once in a while? Maybe you have a baby or maybe you work better with your spouse by your side. Whatever it is, when you work from home, you can somehow always manage to squeeze in more time for your family.

Yes, as a business owner, you will have to devote a lot of time to your business, but you will be able to balance work and life well, which will benefit your business in the long run.

So What Is Not Good?

Up till now, it all seems pretty well. But there are some business owners with whom working form home just does not work. Why is that? Because of the downsides associated. Here are the main ones of them.

Too Much Self-Discipline Required

Work from home is effective for only those people who exhibit a high degree of self discipline. You have to be very determined and firm about your schedules and the task at hand. Until you are disciplined, you will always delay your work and find an excuse for not doing it in a timely manner. As a result, your business will suffer.

Too Many Distractions

At times, while you may be extremely disciplined and motivated, your family can still create problem and hinder your work. Before you decide anything, talk to your family and be very clear to them that while you will be there for them, you cannot be there for them at every single moment.

If you can somehow avoid all the distractions, working from home will be ideal for you, but otherwise, you may be better off running your business from a proper office.

Unbalanced Work And Personal Life

While working from home can balance your personal and personal life, it can also unbalance it depending on how you handle things. When business owners set up their offices in their own homes, they are always at work. In fact, they focus so much on it that they forget they have to relax and take some time off. This de-energizes them and can even make them fall sick if they don’t relax and have enough sleep.

The Bottom Line

So what do you think? Should you work from home or elsewhere? Initially, you can try working from home, but if you want to expand and grow, you will have to consider setting up a proper workplace in the time to come. When your business grows, so will your team and that is when you will need an office that is not your home.