When your boss is on your back, and your job is getting you down, nothing sounds better than throwing in the towel and becoming your own boss.
The rewards you can get from such a decision, both financial and emotional, are practically unlimited, but so is the skepticism you may feel about the concept.
With so many myths surrounding home businesses, it’s no wonder that people are doubtful. To give you a clearer picture of the truth, here are 6 myths about home business you can ignore.
1-You Become Less Productive
Launching your own business is a decision that requires a great deal of work. This one of the myths about home business that is easy to believe because of the propensity to
Many people believe that working from home makes you less productive, making this task so much harder.
Thankfully, this is far from the truth. While your home may have some distractions you need to deal with, many studies and surveys agree that remote working often gets more done.
2-You Must Work Alone
Running a business from home doesn’t mean you’re unable to hire employees.
You can do so just like you would if you worked from an office.
Whether they come to your property or work remotely, you still need to hold interviews and complete training, which can be made easier with learning management systems.
You must also ensure you have your legal ducks in a row, remote work does not necessarily mean that you are exempt from legal requirements.
3-You Spend Too Much
The expense of starting a business depends on you, your plans, and the type of business you want to start.
That being said, most would agree that home businesses cost much less to launch and run than others.
After all, you don’t need to pay out on rent or a mortgage, and also you save on transport and clothing. There are also lots of tax incentives you may want to look into. This is one myth about
They imagine that its too costly because they have to bear the entire finacial burden alone.
Truth is that while home business may cost you some money.
it is usually not much compared to hiring a full- time staff and decking an office
With a good home business
I like to use a home business planner I designed for that purpose.
Because it helps me to list out both my recurring expense and fixed expense.
That way I understand where money is going and how my money is made.
A home business
I am even able to define my income streams and hence make adequate preparations for how these streams will perform for the year.
To get this planner at a discount, click on the image below
4-You Are Already Covered
One of the biggest mistakes entrepreneurs make when launching a home business is assuming that their home insurance will cover the startup. Unfortunately, this is not the case.
You can save money in many ways while running this type of business, but this is an extra cost you will have to consider. If you don’t, and something goes wrong, your business won’t have any protection.
5-You Earn Very Little
Every business out there is different, with some taking years to earn just a small profit. While others making big bucks practically overnight.
While the latter is unlikely to happen for your business, you shouldn’t just assume that gains will be small either.
Starting a home business does not mean you will not earn much. Its a key myth about
You may earn a little at the begining but with dedication and hard work you will hit it big.
Many businesses today that we celebrate started as home business. Apple started as a home business in a garage.
This depends on a number of different factors, but choosing to run your company from home certainly isn’t one of them.
6-You Won’t Look Professional
A decade or two, home businesses were rarely viewed as “real” companies, but these days, this isn’t the case.
As long as you get the job done with the right technology and equipment.
Running your business from home doesn’t determine professionalism.
There are unique challenges to face, of course, but the benefits far outshine any extra effort you need to put in.
If you find your business clients are not taking you seriously enough, it may be because you are not applying these rules to your business.
Do you any more myths about home business that needs busting? drop your comment below
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