Chapter 16
The Home-Based Business
There's no place like home.
—Dorothy
Working from home is an attractive option to many. By avoiding the overhead of an office, working from a place you enjoy, and chucking the rat race, working from home can indeed be great—and don't forget that easy commute to the extra bedroom. But having a home-based business is not all milk and honey, not by a long shot. Your chances of small business success increase when you work from home, because you have lower overhead expenses. Nevertheless, there are challenges aplenty when you work from home. Here we explore the promise and problems of the home-based business.
Making the Decision
There are two types of home-based businesses. First, there is the home-based business that is started with the intention that it will remain a home-based business. Because working at home can be easy, pleasant, and inexpensive, many people start their business from home because that is where they intend to stay for the long haul. Second, there is the home-based business that is started with the intention to move out as soon as it is economically feasible. These entrepreneurs know that the start-up phase of a business is critical: money is usually tight, and starting a venture from home allows them to earmark their precious capital for things other than rent and commuting costs. It, too, is a smart strategy.
Whether you already have a business that you are considering moving into your home or you are thinking about starting ...
