Is Working For Yourself A Sound Decision For You?

Every single day more people decide that they are finished with office politics

, having to ask permission to take a day off, long commutes, expensive wardrobes and decide that working for yourself sounds like something to try. In fact, since 2005, there has been a 74% increase in the number of people who have gone home. Just two years ago, in 2008, more than 17 million Americans worked from home at least part of the time. Before you make the jump to working for yourself, take a few minutes to think about a couple of factors.

The Financial Impact

If you have previously been working outside of the home and making a good salary, working at home can be, at least to begin with, quite a drastic cut in pay. Consider how working for yourself will impact your family's financial situation. If you are staying home with your children, how much can you save in child care? Is the extra time with your children a positive thing? You will have to answer these questions for yourself.

Assess Yourself Honestly

The time to honestly decide if you are really self-motivated is before you are in charge of your own business. Self-motivation is one characteristic that is essential for success. Can you get work done without a boss standing over your shoulder prodding you? Of course, there are other skills you will need to learn if you do not know them already. Things like budgeting, accounting, planning marketing and sales campaigns are all learnable skills.

Working For Yourself Doing What?

Perhaps your job does not easily translate into a work-at-home business. Maybe you want to work in some completely different field. In any case, if you want to work for yourself, you will need to find out what kind of business you want to pursue. Getting started figuring this out is the first instance where you will need a great deal of internal motivation.

Some people who decide to stay home to care for their children open a family daycare. Starting your own daycare probably requires licensing by the state. Before beginning your daycare, make sure you are in compliance with your state and local regulations. You may also need a business license. Your town clerk can give you information about that.

Your next step before opening is to gather everything you will need to make your daycare business run. Toys, diapers and other equipment are essential. Speak with a lawyer to draw up proper forms for parents to complete when they register their child. Decide on your refund policy (if you choose to have one). Create a daycare schedule of time you will be closed. What will your policy be if parents do not pay? Being thorough in your preparation will save you headaches in the long run.

Some parents enjoy network marketing or direct sales. A word of warning if you would like to pursue this avenue. Be sure to thoroughly research any company with which you are thinking of joining. Be careful of companies that have quotas for their representatives that require you to purchase more stock than you are able to use and profit from.

Working for yourself has its perks and its drawbacks. Only you and your family can decide if your home business is a viable option for your situation. If it is, you will be joining more than 17 million like-minded people who work at home on a regular basis.

by: Rheo McBride

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