I think we can all agree that the job market is not what it used to be. It certainly is enough to make people want to stay home and work for themselves. Before you quit your job and start your own home business today here are a few things you should consider.
1. Are you a self-starter? You are not going to have a boss if you stay at home and work for yourself. Although that sounds exciting, it can end up being a real problem for people who are not self driven.
You’re going to have more freedom than you’ve ever had while working in the past. You have to be careful not to get sidetracked and let people distract you from working on your home based business the way you know you should be doing.
There’s nothing wrong with taking time out to do things because that is certainly one of the benefits of working for yourself. The key is that you are in control of how you spend your free time and your work time. It will be important that you plan accordingly.
2. Whether you like your job or not, you’re probably getting paid on a consistent basis. One thing that can be a problem is you will no longer have a steady paycheck coming in when you initially start your own home based business.
Certainly as your business becomes more mature, you can schedule your pay days or take money out of your business whenever you want. But right out of the gate it is not going to have any money coming in.
One idea to consider is starting your home business on a part time basis while still working. Then as you build it up and replace your full time income you can quit your job without missing any pay days.
3. One final point we want to make is as a self employed person you will lose some of the benefits that you have from your employer. You will no longer get sick days, vacation days, paid holidays, health insurance, a retirement plan, and so on.
This is not to say that you can’t set up a benefits program within your own home based business, but that will take a little bit of time and money to do. Just be aware that you will lose these benefits when you quit your full time job.
This is three things to consider before you start your own home based business today. These should not prevent you from getting started, but just be aware that they are issues you will have to deal with.