There are many reasons why someone might want to start a home-based business. Some do it to get wealthy, though this is never guaranteed. Others do it for extra money, such as to supplement their day job. Creative people do it because they have great ideas that would otherwise never see the light of day, at their current job. Then there are those who do it because they feel they were meant to be entrepreneurs. These individuals would probably never be happy in an ordinary job and seem to be an entirely different breed.
Maybe you fit into one of these categories or maybe your reasons are more unique. In any case, running your own business offers a number of benefits that are even more significant when you can do it out of your home. If you search the Internet, you’ll find no shortage of articles warning people about the risks of entrepreneurship. While it certainly is risky, you’re the only person who can decide whether you’re up for the challenge or not.
With that said, here are several reasons why you should consider starting a home-based business:
1. Be Your Own Boss
When you run a business of your own, you’re the one in control of everything. This is what makes entrepreneurship so popular. However, this doesn’t mean that you won’t ever have to answer to anyone. You’ll always have to answer to your customers, suppliers and the government. But the rest is pretty much up to you. Even with regard to those customers and suppliers, as the business owner, you don’t necessarily have to do what they tell you. The point I’m making is that as an entrepreneur, you have OPTIONS.
For example, being your own boss provides you with the option to live a more flexible lifestyle. This can be great for people from different walks of life. If you’re a woman, this type of flexibility might help you raise a family more efficiently, while still maintaining a successful career. There are a growing number of women in today’s world running businesses out of their homes. According to one report, the number of businesses owned by women has increased by nearly 70 percent since 1997.
You also have flexibility over how you control your time. Your boss isn’t going to tell you what time to stop for the day and no one will punish you for taking a day off. You can start when you want and stop when you want. You can tweak your workday according to what works best for you, so as to accommodate other areas of your life that need attention. If you want to watch TV while you work, no one’s going to tell you that you can’t. No one will force you to work standing up or make you wear a uniform. Working for yourself means having the freedom to create rules YOU can live with.
2. Make More Money
In many cases, you can earn more money being your own boss. However, the amount of money you earn can depend on many factors. The only way to find out how much you can make is to start your own business and give it all you’ve got. The majority of successful small businesses are able to provide a healthy living for their owners, but not a vast fortune. What’s important to remember is that being your own boss is the only way to break out of the limitations of being an employee short of winning the lottery.
Have you ever asked your boss for more hours? While some employers will try to accommodate you, it’s not always going to be possible. They may not be able to afford to pay you more if their payroll costs are already too high. In this type of situation, you’d be limited to whatever your employer could afford to pay you. Being your own boss means that your expenses and the number of hours you work are entirely up to you. You can work as much as you want because you’re not at the mercy of someone else’s budget.
Keep in mind that if you’re an employee, just because your company may be thriving doesn’t mean that the boss is going to give you a big, fat raise. In most cases, you’re not going to share in the company’s profits. This means that while the business makes more money, you probably will not. Regardless of how much you help generate for the company, your pay will be limited to your salary and occasional bonuses.
On the other hand, if you’re self-employed and want to earn more money, all you have to do is sell more (or produce more). If you’re willing to work 80 to 100 hours a week, no one’s going to tell you to go home. In doing so, you’ll have the chance to explore new opportunities and experiment in ways that you wouldn’t be able to as an employee. You’ll probably develop sharper skill-sets, as a result of looking for more efficient ways to do business. This could mean making a lot more money than you ever did as an employee.
3. Do the Work That You Love
They say that if you love what you do, you’ll never work another day in your life. So you basically have two choices: you can either do something you already love or learn to love what you already do. The reason this is important should be obvious, if you think about all the people you know who hate their jobs and constantly complain about them. If you’re going to make a business out of something, it should be something you’re not going to get sick of. After all, you’ll probably be working far more than just 40 hours a week.
Entrepreneurship frees you up to spend your time doing work that matters to you. Your view of the world is unique and it may be that entrepreneurship is the only vehicle that allows you to pursue this and make your vision happen. Self-employment allows you to march to the beat of your own drummer and pursue the interests you feel most passionate about.
You’ll never suffer a dull moment as an entrepreneur. Note that the excitement is not so much in the mundane activities you’ll be involved in, but rather in the mindset itself. Entrepreneurship requires a certain way of thinking and viewing the world that makes boredom all but nonexistent. For example, entrepreneurs frequently choose to do things differently. It would not be unusual for an entrepreneurial-minded person to learn to write with their non-dominant hand. The reason they might do this is as an exercise in willpower, as well as to improve their creativity and decision-making abilities.
4. Challenge Yourself
When you run your own business, you’ll experience many highs and lows. You’ll face challenges that might be too much for the average employee, but your sense of adventure will compel you to keep moving forward. Consequently, you’ll experience great victories when those challenges are overcome. You might lose a valuable customer one day for reasons that may or may not be your fault. These things happen in business. But the next day, you might find yourself on the front page of your local paper. So if it’s excitement you’re looking for, you might want to start your own business.
Entrepreneurship offers a sense of pride and fulfillment that’s unequaled in most ordinary jobs (with some exceptions, of course). This is because you’re conquering challenges most employees rarely get the opportunity to face. As an entrepreneur, your job is to make things happen, one way or another. You’re the one who comes up with the company’s vision, creates the plan and takes all the major steps required to make the business succeed. If other talent is needed in your company, you’re the one who gets to decide who they are and what roles they will play. Pulling this off effectively can give you a feeling of immense pride and joy, as you watch it happen.
Imagine seeing your new products in a store that you used to shop at all the time. Imagine how it feels to see your website online and watch customers interact with you and order your products. Imagine having them email you with problems that only you can help them with and having the ability to actually do so. If you don’t have kids, you’ll find that your business is, in many ways, just like a baby. You’ll get to nurture it, watch it grow and experience a sense of fulfillment when it matures.
You’ll soon realize that if you can conquer the challenges of entrepreneurship, you can do pretty much anything. Every day is a challenge with new tasks and problems that need to be solved. But unlike an employee, YOU get to set your own pace and YOU have the freedom to speed up or slow down, whenever you choose to.
5. Gain Knowledge
Another advantage of starting a home-based business is that you’ll have the opportunity to learn many things and wear many hats. One minute you’ll be a strategic planner or a marketer, then you’ll find yourself in the role of a customer service rep, sales rep, or even your own bookkeeper. Many of these roles involve skills you will not have had before starting the business and that you’ll have to learn as you go. Someday, you’ll be able to pay someone else to do them for you. But for the time being, you might have to start out as a one-man (or woman) operation.
Running your own business, you’ll have the choice to either grow and develop or fail. No entrepreneur can expect to succeed without growing and learning, in order to develop into the type of person who can run their own show successfully. If you’ve ever been interested in personal development, entrepreneurship is the best way to go. If there’s something you either don’t know how to do or are unable to do for some reason, you’ll have to outsource it to someone who can.
Successful entrepreneurs don’t allow roadblocks to get in their way. They always find a way to get over, under, around, or even go through them. This will involve a great deal of change and tremendous growth to your character. Learning is what actually enriches your life, allowing you to discover new things about the world, about business, people – and even about your own mind, abilities, and perceived limitations. The more you learn, the more you’ll be able to enjoy this for what it has to offer.
6. Make Your Mark
If it seems naive to think that you could change the world, think again. While there’s no guarantee that you will, it is the entrepreneurs who produce the biggest changes in the world we live in. They create new products and explore new ideas that offer solutions to past problems, while simultaneously shaping the future of humanity. People such as Bill Gates, Mark Zuckerberg and Elon Musk have created technologies and innovations that would have been inconceivable mere decades ago. They all started out the same way, making the same types of sacrifices, often in their basements and garages, eating cheap food and sleeping on the floor. So if you do feel that type of “calling,” understand that you’ll probably never see it happen as someone else’s employee.
Yes, the world is an ambitious target, but anything you do can make a mark upon the world. The difference with being an entrepreneur is that you have a chance to reach out to millions, or even billions, of people with your products. Even one change you make that creates an impact on the world around you can make the world a better place for some person or group that needs what you have to offer. While it is possible to contribute to these changes in an ordinary job, you won’t be the one making the big decisions that have the greatest impact. When the product or service is actually yours, it becomes your brand and part of a legacy that could continue long after you’re gone.
7. Help Others
Starting any type of business gives you a chance to help others in ways you would not be able to as an employee. Since you’re able to make all the decisions, you can help your customers directly, in ways that employees are not usually able to. You can create jobs for people that need them in communities that need economic development. You can become a leader of your community and change the way it looks, over a period of years.
You can also share what you have learned with others, as an entrepreneur. This is another way of giving back to your community, in the form of mentorship. There are many others who would like to do what you’re doing and start businesses of their own. The best teachers they could possibly have are other entrepreneurs who already taken the steps that lay before them and can warn them of the pitfalls ahead. Running a business of your own gives you something to write a book about that others can benefit from, as well. You might get interviewed for a television show or podcast, where you can discuss your experiences in ways that could inspire others.
If you’re successful enough, philanthropy can become a way of life. Ultra-successful entrepreneurs donate tens or hundreds of millions of dollars to causes they feel are worthwhile for the benefit of humanity. If you love animals, you’ll be in a better position to help save them. If you’d like to see better education, you can help create programs to better educate our youth and set them on the right path. There’s much pleasure in giving and there’s no telling how much you’ll be able to give if you’re able to create a successful business as a starting point.
As an entrepreneur, you are always learning and growing. You’ll find that unlike having a regular job, there’s never a dull moment when you run your own business. While the extent of your success will depend on many factors, there’s no way to find out how successful you might be until you give it a shot.
Fortunately, we now live in a world where a successful business doesn’t have to be run out of a brick-and-mortar storefront that costs a ton of money to maintain. Some of the most impactful businesses today can be run from the privacy of your home and started with the simplest of materials. Although the life of an entrepreneur isn’t an easy one, it is very rewarding and in most cases, you’ll find that the benefits far outweigh the risks.
You know starting a home based business seems awesome but overwhelming. There are a lot of benefits like the first one you mentioned on being your own boss. This would be really nice.
The biggest reason that speaks to me is being able to make my mark. Leaving a legacy is important to me.
Absolutely, Barry. While there are other ways to make one’s mark in the world, having a business of your own is probably the most accessible way for most. Thanks for stopping by!
Item #7, helping others, seems to be the most interesting reason, one that most others, I’d guess, hadn’t thought of. I have a friend who writes a blog that has ads on it, which he also uses to point others to a service that someone else offers (he gets a commission for bringing others to that service, kind of like a commission sales person would). He mostly writes about the needs of veterans; in fact, they’re mostly his audience, though anyone can benefit from what he writes about. He tells me that the greatest reward he gets comes from helping veterans–through the information he gives out for free, like where they can get transitional services, for example–and not necessarily from the commissions that he earns along the way.
My friend has implemented what you’ve said: helping others; that’s his prime motivation. He does help others with entrepreneurship advice and some mentorship, but he’s the most blessed, he says, when he’s able to help others in any way that he can.
Thanks for sharing the reasons why one should start an at-home business. What you’ve said confirms what I’ve thought about the prospect of a home-based business and has gotten me more interested in the idea.
That’s great to hear, Kevin. Helping others can indeed be very rewarding, especially when it involves a cause that’s really important to you. Thanks for stopping by!
I’ve definitely been bitten by the entrepreneurial bug. It’s been a longing in my gut and heart now for quite some time. It took me a while to figure out how to apply that longing and I’ve been working at it now for over a year. I still work my full time job that pays the bills but in my off time I’m researching and cooking and working on my website. As you said, you have to wear many hats. So today, I’ve got my marketing hat on. Yesterday, my chef hat. Tomorrow? Who knows! Thanks for the awesome post and reminding me WHY I do what I do:)
Anytime! Yes, the many hats do keep it interesting. Thanks for stopping by!
My reason for having a home based business is very practical — I want to be available to help my family and be with them as much as possible. I realize that won’t always be the case. My kids will eventually be grown and on their own. But I think by that time, I’ll just continue to work from home because I love it! It’s so fulfilling to be able to be my own boss, to be creative, and to help other people in the meantime! Also, along the way, I have been able to encourage my own kids to earn money from home, too!
That’s great, Danette! Whatever they decide to do in life, whether they continue along the same path or not, they will always have those skills that you passed on to them.
Being you own boss is surely a very attractive idea!
But being other people’s boss is no easy task, so being your own boss is probably even more difficult!
Once you set your mind into diving in this entrepreneurship world, then the sky is the limit and you can make money doing what you love and having the chance of helping others.
One should always look to give the best of them selfs, so you better give it to yourself!
Very true, Bruno! People rarely give their all to their ordinary jobs. In many cases, they slack off as soon as the boss turns around. But if you slack off in your own business, you’re only cheating yourself. It only works if you give it your all.
Thank you for this very informative article. Being able to help people start their own home based business is good. I find this article very interesting and love how you give support for those who are ready to start their own online business. I know there are a lot of people out there who will find the information you share a great help and use it to become successful. This is why you should start a home-based business to be big bad boss man free and have a financially secure future.
Thank you for this wonderful post
Thanks, Quinn! Financial security is definitely a major motivating force.
Ever thought about starting your own business? Well, if you haven’t , or if you have, this article is a must read. The writer gives you 7 good reasons why becoming an entrepreneur could be very rewarding for you. He doesn’t make it sound easy, in fact he makes it clear that anyone starting their own business will work much harder than they ever did for someone else. This article is packed full of good information.
Thank you, Barbara! And thanks for stopping by!
Being your own boss gives you an amazing feeling and a sense of entitlement and responsibility. you are able to do the things you love and make money while doing them. Life becomes interesting and challenging. One amazing thing which I really find intriguing about being your own boss is that the work put in cannot be compared to the benefits gained in the long term. It is always worth the stress. To put it very clearly, attaining financial freedom might be near impossible if you’re not your own boss.
That is very true, my friend. A salary or hourly wage can only get you so far. If the “boss” is the one paying you, the boss will always be making more than you. The only way to get around that is to BE the boss. Thanks for stopping by!
Starting a home based business really should be more common, but I think many people are under the belief that they can’t do anything on the internet or that it is too hard.
But like you said, being your own boss is important and beneficial!
I really like the points you made, thanks for an in-depth read, was encouraging!
Probably so, Jacob. That and the mistaken idea that online businesses are somehow less legitimate than brick and mortar businesses. While most people seem to be past that now , I still know some who can’t quite wrap their heads around the idea that a business that exists in cyberspace is just as real as one that exists in physical space. Strange, but true. Thanks for stopping by!
I think out of all the ways you listed to make money I would have to pick affiliate marketing because the training that your #1 recommendation offers is absolutely the best I’ve seen online. The Price of a premium membership is practically a steal too. Thank you for a great review and showing us multiple options to make legit money.
Anytime, Jason! Thanks for stopping by!
I have read the whole review about this information.This is really a great information about why I should start a home businesses.Thank you so much for sharing this information with us. I read your article and found out why we need to start our Home Business. I was inspired to do Home Business after reading your articles.I will share this article with my friends.Thanks again.
Thank you, my friend! Yes, feel free to share. Thanks for stopping by!
Being your own boss is very simple, just find a niche that you love or you know you can do well and learn all about it then the next thing is for to start the creation either if its digital goods or not just start somewhere, you can definitely get to the top.
getting to be your own boss can be the best thing you can ever do for oneself having to avoid all the pressure of getting as early as possible to go to work.
Yes, it certainly does have its perks. Personally, I am partial to digital products, though it’s certainly just as possible to find success in conventional goods. The advantage with digital products is that they cost little to nothing to produce. Best wishes on your endeavors, my friend! And thanks for stopping by!
Hello Mark, being your own boss is certainly appealing, but I think you also need to make some sacrifices – especially in the first months. That’s why most people don’t trust starting a home business – they’re not willing to work for free for some months and risking not earning enough fast.
I personally have a home based business and I’m very proud of what I have achieved. I too had to work for free for several months, but it was worth it. Now I can earn 3 times more than I used to, without half of the effort. So I definitely agree that home based businesses are a real challenge, and if you’re ready to take the chance and you work hard – you have high chances of winning.
Thanks for your thoughts, I surely recommend everyone who feels mentally ready to try to start a home based business. It’s really worth the effort!
Yes, absolutely! As I like to say, the best things in life usually require sacrifice at some point. One of my biggest reasons for promoting small business is the effect automation and artificial intelligence will have on the traditional job market. The way I see it, the sacrifices required to start your own business now will pale in comparison to the consequences of getting left behind in the years to come. It does require a considerable amount of discipline, but fortunately, expensive brick and mortar type conventional businesses are no longer the only viable option. Best wishes with your business and thanks for stopping by!
Hi Mark, Home based business is great and has so many benefits. However, it requires a lot of hard work to make it work. Not only hard work, but also perseverance. There are so many reasons why people tend to start home based business just like you mentioned. For me, I prefer Home based business because of the opportunity of looking after my kids and taking care of my home while at the same time doing my work.The number 3 reason “do the work that you love” is great. It is that passion that keeps one going when it seems the business is not moving fast. It has been great reading through your article.
Yes, indeed! Sometimes it’s all you have to draw on when you’re struggling to get it going. Glad you enjoyed it and thanks for stopping by!
Interesting article about why we should have our own home-based business. I fall into the category that has a problem with (bad) bosses and was sort of a disgruntled employee all the time. This was indeed solved by becoming my own boss and yes, also work from home. What I love most about it the amount of freedom it gives you, although that is not the same as free time. In the end I would dearly be in a better position to help some of the people around me who really are in need of help. For all the hard times, obstacles and problems that all start-ups have, I am really happy to have made this step away from the corporate jungle.
Yes, it’s hard to be happy about working for someone else. You’re basically making their dreams come true instead of yours and they’re not always very appreciative about your efforts. Thanks for stopping by!
There is nothing as good as home based business when it comes to business. It gives sense of freedom and liberty. It liberates you into being who you have always wanted to be. One thing that inspired me most in your article is where you said “”you either do what you already love or love what you are already doing. This is a great inspiration to me and I love everything about this article.
Glad to hear that, Kenechi! Thanks for stopping by, my friend.
Nice post, you listed real good benefits of having a home based job and I really do agree with them all. Another’s reason why I personally would love a home based job is because it is less demanding when it comes to financial investment. Take for example, I don’t have to pay for transport or fuel my car for the purpose of moving to or from work. Even the stress that goes with commuting to and from work and preparing early in the morning for work are serious health investments that we both know won’t always come back in form of health. I loved the part where you talked about doing the work I love. This fact coupled with the fact that I am my own boss and I’m making money are mouth watering and would definitely be the basis of my recommendation of home based jobs for anyone
Yes! Absolutely! When I first gave up the 9 to 5 employment world, the first thing I noticed was that I didn’t have to pay for a ton of gas for the commute to and from work. I had been looking for a job for weeks and always coming home empty-handed and low on gas. How long could I keep that up? Then I started writing freelance and realized I didn’t even have to make as much money at the beginning, because a huge chunk of what I’d made in the past was going to my commute. The stress alone isn’t worth what it does to your health. Best wishes and thanks for stopping by!
I just loved the article as I am not always comfortable with bosses in the offices. So, the idea of becoming my own boss attracted me very much. I will definitely find some ways to start my own home-based business. Thanks for you this very helpful article, Mark. You are most appreciated.
Absolutely, my friend! If you’re even thinking about it, it’s in your best interest to find a way to make it happen. Otherwise, it’s never going to leave you alone and you’ll never be happy as an employee. Thanks for stopping by!
This is a great article – Very educative and informative article. Starting my own online business has always been my wish since I left my 9 to 5 job two years back. Enough story (laugh) I tell my story so that you know how appreciative I am reading this article. In my early stage in the online world this is the type of information we do pay for back then. So if you are fortunate enough reading this free of charge please make something out of it! I worked 5 years as maintenance engineer – I make money but I don’t have time for my family especially my lovely daughter. So I started looking for how to make money and still have time, this quest lead me to the online world and here I am 2years after happy have time and make more than I made in 5 years as engineer!Owning your own online business is the only sure way to financial freedom!Thank you for this wonderful post. I look forward to seeing more !
Awesome! So glad it worked out for you! Traditional business models tend to require a ton of time. I’ve always felt that one of the best things about online business is its flexibility. Best wishes for your endeavors!
When I’m first starting my own home-based business, my motivation was to make money from home. it didn’t really work. It was easier to fall on online scam and somehow I still felt doing something that I don’t like. I changed my mindset to work it for something that I have interest AND also helping my audiences. It worked much better now, money start to come regularly and I feel lighthearted with my home-based business. So, I think money should be secondary motivation when doing home-based business.
Yes, that’s a far better strategy. It’s been said that people are more motivated by avoiding pain than by seeking pleasure. So with that said, you’ll only work so hard when it’s just about money. However, if you have an intense interest in something, you can do that all day and not get sick of it. Best wishes on your business!
Mark has written about the challenges facing people who wish to start a home-based business. Not everyone will succeed but they can certainly try with very little investment unlike a brick-and-mortar store. There are many great things a successful entrepreneur can do for his family and community which he can’t if he is a mere employer says Mark.
There is an interesting article on the 10 best home based business with some good tips.
I agree with what he has written about Wealthy Affiliate. Being a premium member myself I can vouch for what he has said about WA. Any member who follows the awesome training and uses the tools can succeed. Affiliate marketing is a good and affordable way to start an online business. Kyle and Carlson have helped thousands of WA members to succeed online. Don’t take my word for it. Just read the inspiring success stories of several members. A members can always get help from top-notch gurus some of whom have benefited from their training at WA, and from the community. No credit card is needed to sign up as a beginner!
Yes, indeed. They’ve created a magnificent platform and it seems to get better every year. All without any price increases, I might add. Thanks for stopping by!
Being your own boss is the greatest thing everyone would wish for but it doesn’t come on a silver platter. It requires a lot of effort, discipline, commitment, learning and failures which many are not willing to face. It’s not easy to go down that road but it’s definitely better than working for someone and not being secured.
I chose to build my home based business with the sole aim to help others. Not only have I toughened myself to overcome my failures and fears in the process but have to learn things I don’t really love in order to clock the success that I desire. To me, being able to help someone is something I see as an extension of myself. I couldn’t agree with you more, I’m learning a lot.
Absolutely, my friend! I believe there has to be a higher purpose in there somewhere. That’s the greatest motivation one can possibly have, because it begins to feel a bit like it’s your duty. And once that happens, you won’t want to quit and abandon your duty. Best wishes in your endeavors!
Living the flexible lifestyle of being your own boss is one of the biggest pulls for me. It means that I’m not stuck on somebody else’s schedule so I can work around other things that I want to do. The downside of that, though is sometimes it is hard to be self-motivated on working on my business. I need to be diligent and make sure to put in the time every day to create growth and be successful.
Yes, that is so true. It’s hard to work with someone else’s schedule sometimes. If you get sick, you’re forced to ask for a day off and hope the boss is okay with it. I agree about the motivation part, too. It’s not easy to motivate yourself at first, especially when there’s no one around to fire you for slacking off. That’s why it’s important to do something you can actually be excited about. It’s half the battle, for sure. Thanks for stopping by!
I absolutely agree with the reasons listed in your article. I also have started a home-based business, and it’s still hard to mention which was the number one reason. Being my own boss and doing what I love, probably are on the top of the list. No more meetings to attend, meetings which are time-consuming and I’m not interested in, no more office gossips and politics.
With time, you gain a name as helping others. It’s a journey with ups and downs, success and failures, but in the end, it’s worth it.
Absolutely! I haven’t had an “ordinary” job in close to a decade and I can’t say I miss it. The gossip, the office politics and the dreaded commute in traffic aren’t worth going back. Not to mention having an income cap that disappears when you create your own job. Glad it’s working out for you, my friend! Thanks for stopping by!
I am a proud owner of a home based business and I must confess, it has been a wonderful journey with lot of experiences and knowledge. Now I can proudly create any business and build it to be successful. Having a home based business is one of the best because it allows you have a lot of time for yourself and family
So true! It’s hard to find any kind of balance with an ordinary job, working for someone else. Having a business of your own, based out of your own home, is pretty hard to beat! Thanks for stopping by, my friend!