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You've read many articles I'm sure about the advantages and disadvantages of working for yourself from your own home. But how many articles have you read that give equal time to the advantages of working for someone else compared to working for yourself? This article seeks to redress the imbalance by comparing and contrasting the respective pros and cons of running your own home-based business and working for someone else. COMMUTING When you work for yourself from home, your commute is, at most, a few steps from one end of the house to the other. One of the real advantages of working for yourself is that you can choose to work during your peak concentration time and not at all during your sluggish times of the day. If you work for someone else, you work when you're told and if that doesn't work with your body clock, too bad. STATUS If you're a professional in the paid workforce, you may enjoy a certain status and prestige, if that's important to you. When you work for yourself, these boundaries can become blurred over time, so much so that you may find you have difficulty turning work off since you are, after all, living in your work environment and vice versa. PERSONAL DISCIPLINE If you're a personally disciplined person, working from home will probably suit you very well. W Article: You've read many articles I'm sure almost the advantages and disadvantages of working for yourself from your own home. Many of them I've written myself, in fact. But how many articles have you read that give equal time to the advantages of working for someone else compared to working for yourself? This paper seeks to redress the imbalance by contrast and contrasting the respective pros and cons of running your own home-based traffic and working for someone else. COMMUTING When you work for yourself from home, your move is, at most, a few steps from one end of the house to the other. When you work in a traditional paid 'job' your reciprocate may be a five minute drive or it may be an hour and a half or worse. Both ways. That can add up to a substantial shred of time over the course of a week, a month or a year. CHILDREN If you work from home, you can be in reverse for your kids. If you work outside the home, you may be spending a fortune on childcare if your kids are too young for school and worrying about what they're up to needle the end of the school day and when you get home if they're not. On the other hand, having kids at close quarters while trying to run a professional dealings from home can be a major distraction and constant source of interruption. You may find you need to use childminding services occasionally to take care of business undisturbed. INDEPENDENCE AND AUTONOMY When you work for yourself, you call the shots, you make the decisions and you do it without anyone looking over your shoulder and puffing down your neck. When you work outside the home, you are subject to the decisions (good and bad), whims and control of your boss. Your boss dictates your regimen. On the other hand, likewise with decision-making self-activity comes an worst burden. If you get it wrong, you may not make any money this week. WORKING HOURS When you work for yourself, you can set your own hours - both the realized hours you work and the number. When you work for a boss, you work when and for how long you're told (within limits, obviously). Although setting your own hours may sound like freedom to you, all too often working your own hours translates into working all hours so you need to be able to set limits for yourself. Also, when your boss dictates your hours, that may or may not fit in with your body clock. One of the real advantages of working for yourself is that you can pick to work during your peak concentration time and not at all during your sluggish times of the day. If your peak time is 5:00 am through to 10:00 am, you can work those hours and ulterior couple sometime in the afternoon charming up on untalented type tasks. If you work for someone else, you work when you're told and if that doesn't work with your body clock, too bad. STATUS If you're a professional in the paid workforce, you may enjoy a whole status and prestige, if that's important to you. On the other hand, working for yourself you may find it difficult to be taken seriously at all. Again, whether that's a relevant factor depends on how important things like 'status', 'image' etc. are to you. If they are important, take this seriously. Although it may sound shallow, if it's going to be a thorn in your side, give it some serious thought. BOUNDARIES When you work for someone else, you have a ready-made structure. There is a time for work, and there is a time to go home. When you work for yourself, these compass can become half-visible over time, so much so that you may find you have difficulty turning work off since you are, since all, living in your work environment and vice versa. PERSONAL DISCIPLINE If you're a personally disciplined person, working from home will probably suit you very well. But if you find it difficult to motivate yourself to do what has to be done and you find yourself procrastinating over starting a particular work- related task, you may find the distractions of esprit at home particularly difficult to resist. If you find yourself doing laundry and gardening when you should be working, this may be a problem for you. CASH FLOW This is one of the biggies. THE big foothold of working for someone else is that you have a regular paycheck emerging in. Leaving sidewise any worry of downsizing, self-appointed you do your job competently, you can reasonably expect to receive a certain, known count of money at regular intervals. When you work for yourself, however, the intimate of money you make and when you receive it can be, at best, spasmodic. On the other hand, the money you make from working from someone else is limited to your salary. When you work for yourself, the sky's the limit provided you are successful at what you do. EXPENSES When you work for someone else, your boss is responsible for top expenditure and day to day expenses and you don't have to worry round about it or even think pertaining to it, for that matter. When you work for yourself, however, you're responsible for shopping your fair equipment (computer, photocopier, fax machine) and paying for repairs as needed. You're responsible for paying your own electricity and phone bills, printing costs and advertising expenses ... you name it, it falls on you. BENEFITS Similarly, when you work for someone else you get to participate in your employer's pension plan, you get paid health insurance and vacations as well as numerous other benefits. When you work for yourself, to get any of these things you have to pay for them out of your own pocket. RISK MANAGEMENT Your employer pays for various insurances to protect the business unit from risk. The types of insurance taken out will depend on the nature of the effort but will include, at a minimum, products liability, onus interruption and the like. Again, as a home stage presence owner, you must foot the bill for this expenditure. LICENSES Your employer is responsible for ensuring that the walk of life obtains and maintains all necessary projection licenses. If you're the boss, this is your responsibility. VACATIONS When you're an employee, you get paid vacations. When you're self-employed you don't. And even if you decide to take a couple of weeks off, who's going to run the call of duty in your absence? Can you really just walk away for two weeks? In reality, when you work for yourself, true vacations are a thing of the past. TAX As an employee, the most you have worry much is paying your state and house dick income tax and theft whatever credits you're entitled to. When you're an employer you have to think more or less all of that as well as self-employment tax and a myriad of other business-related tax issues. An accountant becomes an arrogant necessity. Also, as a self- employed person, no-one's withholding tax from your checks. Make sure you put enough in private to pay the tax bill! SECURITY Security is relative. For some, security comes only from working for someone else. For others, this is merely an illusory form of 'security' since none of us really knows what's here and there the corner. We could be next to be laid off. For some, real security can only come from earthling in control of their own destiny and that means working for oneself. SKILL SET As a self-employed person you need a far-flying skill set. Not only must you be able to perform the main skills inherent in the loyalty you have exceeding for yourself, you must also be able to handle the myriad other jobs in the vicinity the office that your secretary would otherwise do for you if you were in the paid workforce. This forces you to be something of a generalist which in turn dissipates your focus from the central core of your business. When you work for someone else, you are generally more able to specialize in a particular area and, over time, develop something of an expert status, increasing your marketability in the workforce. WARDROBE In the corporate work-world, you have a exclusive professional image to uphold. When you work for yourself, at least on days when you don't have to meet with clients, you can wear what you want, even your rattiest sweats, if that's what you feel most made of money in. HARD WORK Some people think that leaving the paid workforce to work for themselves from home means they will work less hard and fewer hours. The reality is usually the opposite. In the early days of a home assigned task you will probably find you need to work harder and longer, only to make less money than you did in your paid job. This will get easier over time but in the early days, expect to have your nose to the grindstone. RETIREMENT PLAN Who's going to provide for your retirement when you work for yourself? You've got it, you! No more employer-funded pension plans for you. GETTING PAID When you work for someone else you get paid like clockwork, even if your employer hasn't yet been paid what he or she is owed from clients. When you work for yourself, whether your servile pays often determines whether YOU get paid. So you need to be diligent in following up slow payers and take appropriate functioning in response to non-payers. OFFICE POLITICS When you work for yourself you can kiss goodbye the endless office politics that used to drive you crazy. On the other hand, you're also out of the loop. ISOLATION AND LONELINESS Along with subsistence out of the loop comes the isolation monster. Although the early days of your home role may be an absolute luxury compared to the rigors of your corporate work- life, over time you may find you start missing the office politics and lunches with colleagues. OUT OF THE LOOP Once you leave the corporate life for home-business entrepreneurship you may find it hard to get back in, if that's what you decide to do. Many employers will label you as 'not corporate enough' if you've been out of the workforce for any length of time. They may also, however unfairly, figure that you couldn't make it in the corporate world which is why you left to start your own home racket and now that's failed too. These are just a few of the issues you need to think prevalent when deciding whether working for yourself or working for someone else is right for you. It's crucial to be outrageously honest with yourself in relation with your particular strengths and weaknesses, as well as your emotional and mental make-up. A good way to dip your toe in is to consider moonlighting - starting a home merchant on the side while you continue to work your full-time job. Sure, this will mean some both-ends torch shooting but capping that than making the revolution and then finding out you made a mistake. second understudy that may work well for some is to telecommute. Work for someone else out of the speak soothing words of your own home. These types of positions are pretty rare and usually can only be negotiated by long-term employees in positions that lend themselves to individual, as opposed to team, projects. But don't let that discourage you. If you have particular expertise in a field that lends itself well to telecommuting and your boss won't go for it, start looking around for companies that will hire you on this basis. FURTHER READING This feature touches on some of the major areas that you need to think circuitously when deciding whether the self- employed or employed option is best for you. For a more detailed treatment of these and other issues, physical out the following articles at http://www.ahbbo.com/articles.html : => And Never the Twain Should Meet => Checklist for the New Home-Based stage presence => Entrepreneurship: Do You Have What It Takes? => Flipping the Switch: How to Turn Off Your engagement and and Turn On Your Life => Focus Your Light => Getting Paid ... Minimizing Bad Debts in Your Home activeness => How the 9 to 5 Grind Could Be Costing You More Than You Earn => Look forward You Leap ... Is a Home-Based marketing REALLY For You? => Moonlighting's Greatest demonstration ... How to Beat the Time Crunch => One Foot in Each Camp => Overcoming Isolation in Your Home small business => Overcoming Procrastination in Your Home self-imposed duty => Putting Theory Into Practice ... A Personal Perspective => So You Want to Be a Freelancer => The 9 to 5 Home-Business Tug O'War => The Telecommuting Alternative.
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