Working From Home: Flexible & Savvy
Posted on September 22, 2016
With the expansion and adaptation of technology in the workplace, more positions are becoming flexible in telecommuting practices. Where once we held face-to-face meetings, now we can host them via Skype or other interactive video conferencing. What was once mailed or faxed can now be sent via email or text message instantaneously. These are the reasons more professionals are working from home.
While this new “tech” world is unearthing many challenges for security, the professionals are benefiting from this mobile world with more of a flexible schedule. For those looking to start their own business, launching it from the comfort of your own home is one advantage of this all-digital world. Here are just a few of those advantages:
- No Rent: Rather than investing your capital into a physical space, you can invest that money into the real cogs of your business – whether that be startup materials, your time, etc.
- Flexible Schedule: Owning your own business means you get to set your own hours as long as they work for your clientele. Working from home, you eliminate the need to get up and commute to the office. You have the ease of seamlessly switching back and forth from your business to your personal daily tasks.
- No More Rush Hour: In addition to being able to flex your schedule all day long, you’ll have the added time of not sitting in traffic. This is time you can now spend on your business. This could be time spent talking to a client, time spent on the administrative end of your company, etc.
- Tax Deduction: There are also tax benefits to the multiuse of your home as an office. If your business qualifies, you can deduct a portion of your home expenses against your business income. These deductions can include mortgage interest paid, property taxes, utilities, maintenance, etc.
- Sliding Budget: By running your business out of your home, you will have the benefit of a sliding budget. When you sign a lease for an office space, a change in your business’ profitablity cannot easily be rectified. When you and your employees are mobile, you can easily shift hours, or eliminate or increase employees when needed, not when you’re allowed.
- The Safety Net: Let’s be honest, starting a business is difficult. More people fail, then succeed. When you make the decision to go out on your own, you risk falling. By started out in the home and getting the business off the ground, you’ll be eliminating a level of risk should plans crumble. You’ll be able to move onto the next project without the burden of an office lease or other physical encumbrances.
These are just a few of the benefits of a home-based business. Be sure to do your due diligence before entering into any business opportunity. Review the pros and cons and you will be prepared for success.