Not having to answer to a boss. Doing whatever you want during the day. Having the whole home as your workspace. Plus, other myths about running a home-based business.
Starting a business and working out of your home can be rewarding. Chances are you'll spend less time commuting, it's less expensive than renting or buying a commercial space, there may be tax deductions you can take advantage of, and-depending on the business-may afford you more flexibility than a regular 9-to-5 job.
But, not everyone gets what you do. In fact, running a home-based business is riddled with myths and misconceptions.
Myths about running a home-based business
1. Anyone can do it.
Fact: Entrepreneurship isn't for everyone. A successful home-based business requires a CEO, CFO and CIO all rolled up into one person who is self-motivated, resourceful, creative, organized, confident, agile, versatile, decisive, and tolerant to risk-to name just a few key qualities needed to run the show.
- Did you know, there are approximately 2.7 million self-employed Canadians who fit this bill? That's about 14 per cent of Canada's labour force.
2. You don't have a boss telling you what to do.
Fact: You work for the toughest boss around. What other boss out there keeps tabs on what you do every day, all day, in the middle of the night, on weekends, and while on holiday?
3. You don't have to work with people you dislike.
Fact: Cherry picking clients and customers isn't an option and frankly the CFO in you won't let you as it will affect your bottom line.