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12 Reasons to start your own home-based business in 2018 (and 3 reasons not to)

12 Reasons to Start Your Own Home Business in 2018 (and 3 reasons not to).

12 Reasons to start your own home-based business in 2018 (and 3 reasons not to)

12 Reasons to Start Your Own Home Business in 2018 (and 3 reasons not to).The number of people starting a home business has increased dramatically in recent years. 

 

With more people having access to technology than ever before, it’s become easy to work from anywhere and market products and services to global audiences at very low cost.

 

This, coupled with a failing economy that has left a lot of people with money worries and feelings of insecurity, has created a strong desire in many people to take control of their future by starting a side-hustle from home.

 

As someone who has run a business from home for more than 10 years, I’ve seen first hand the many great reasons (and some reasons not) to consider starting your own part-time home business - here are some of them...

No more commute

No more standing in the cold waiting for a train, sitting next to someone in need of a wash on the bus, or having to wake up an hour earlier than you’d like...something I dreamed of for 15 years of city life!

 

Working from home also means you save time, money, pollution and stress. I can honestly say, I do not miss my one-hour commute each way at all!

 

Flexible hours

When you are the boss, you set your hours – this is something that I’ve found totally liberating. I’ve been able to adapt my working hours to suit my children’s schedule as they’ve grown giving me the maximum time on my business and with my family.

 

I know lots of entrepreneurs who love sports like horse riding, skiing and sailing and have been able to take full advantage of great weather conditions by changing their working hours.

 

Whether the kids are sick or the mountains beacon, you can simply work around them, guilt free!

 

Low cost

With a home-business there is no need to pay for office space or other expensive fixed costs. It can be very quick and easy to get your side-hustle up and running!

 

Low start-up costs also means you can get into profit quickly!

 

Earn more/unlimited money

While starting a business should be about more than just earning money (see Why your business needs to start with Why), in today’s world few people can put their hand up and say they earn enough money and feel financially secure for the future.

 

With shrinking pensions and an uncertain world, it makes every sense to set up a ‘side-hustle’ to fill the gap, give you more peace of mind and more options.

 

One of the best things about a side-hustle is that if you work at it consistently and listen to all the advice you can get, there can be no limit to what you can earn given time (Rome wasn't built in a day, right?).

 

These days ‘home business’ need not mean ‘small business’. By leveraging my time, my own business, for example, operates in 13 different countries and serves people in even more.

 

I can tell you that seeing your income increase month to month is an incredible feeling! And when you start earning a full-time office wage, working part-time from home you will wonder everyone doesn't do this!

 

While having more money is a great feeling and offers you more freedom and choice, it's hard to find words to describe the feeling of pride and joy you get from knowing that it's something you have created from your very own efforts.

 
 

Tax benefits

There can be many tax benefits to operating a home office. Depending on your location and business, it can be possible to deduct from your taxes a portion of your home's expenses, such as rent or mortgage interest, utilities and repairs and maintenance.

 

Let’s face it, no one likes paying more tax than they have to, so this little perk feels like a double benefit.

 

Do something you love

While many of us take a job to pay the bills, and some of the lucky ones actually enjoy their work, creating success around something you love offers you a whole new level of satisfaction.

 

Most home businesses and solo entrepreneurs start a business to help others in some way too, giving them real joy and fulfilment.

 

I help people look and feel better through my products and support, which is already deeply satisfying.

 

On top of that, I help people set up a side-income of their own and provide them with free ongoing coaching, training to support their success. When I see the people I work with achieving their goals and creating a life they love, it’s even more rewarding than my own successes.

Discover your real potential

When you work in a company, you only grow as much as someone else thinks you have potential to. But when you work for yourself, you will be amazed at how much you will discover you can do!

 

It’s really the best opportunity I know to learn and grow and for me, that’s the most exciting part of being an entrepreneur. Personal growth isn't often a reason people start a home business, but looking back, it's often one of the things they end up appreciating most.

 

There are so many things I engage in regularly that I would never have thought I could do! I am definitely a happier and more fulfilled person today than I’ve ever been before; my businesses have been the catalyst for that.

 

Be inspired every day

When you become a home business owner, if you are open-minded and network regularly (in person and online), you will start to meet a whole range of driven, motivated and exciting people who will encourage and inspire you to go further than you thought possible.

 

When anything is possible and the sky is the limit, it’s amazing to see what others achieve. It’s almost impossible not to get swept along and start to dream bigger!

 

Develop your business skills and knowledge

I’ve seen people hesitate to take their first entrepreneurial steps as they fear they don't know enough, but the truth is, until you get out there and try running your own business, you can never be 100% sure what knowledge you need.

 

The best strategy is to just get started.

 

Don’t worry about what you don’t know, as you won’t really know that unless you start. Besides, with the help of your coach, network, Facebook Groups, YouTube and Google, everything is ‘figure-out-able’.

 

Personally, I love continually learning about what it takes to succeed in business. It’s exciting and gives you a great feeling of self-worth.

 

Even if you only start your side-hustle to bridge the gap between jobs, working on your confidence and skills in the meantime will make you a far more attractive and valuable candidate!

Grow in Self-Confidence

Your business will only be as bold and successful as you feel you are. If in your mind you don’t believe you deserve success, then you will never have it.

 

If you don’t feel bold and capable when you start, that’s OK – entrepreneurship is a journey that you can follow at your own pace. With each step and each small success, your confidence will grow.

 

As a shy girl, becoming a home business owner has pushed me out of my comfort-zone more times than I care to remember. There have been hundreds of times I’ve thought ‘I can’t do this’, but then I’ve taken a deep breath and done it anyway. Each time I tiptoe out of my comfort zone I grow. Massively!

 

Now so many of my friends and acquaintances comment on how different I look – and I feel it too. I’ve started to walk taller, dress better and speak up more. I still feel shy on the inside, but I no longer see that as a barrier, it’s just who I am.

 

Here’s a little trick I’ve learned that has helped me to make pushing outside my comfort zone feel easier it might help you too.

Ability to travel

One of the biggest perks of being your own boss, is being able to work from anywhere. So if you are someone who likes to travel – a 'home' business can be a great option.

 

A Home Business can also be an ideal career solution for expats and trailing spouses.

 

As a trailing spouse myself, there is always the possibility that my husband’s next career move will take us to a new country – with my business, that can work in my favour as I can simply continue my business in our new location, while also keeping my current base in Switzerland.

 

Enjoy More Financial Security

When you have your own business, it’s yours – no one can take it away from you, unlike a conventional ‘job’.

 

Some people worry that their home-business will fail, but even if it does, the sky will not fall down. You’ll merely learn lots of valuable lessons that will make you stronger and more successful the next time.

 

***

 

While there are many benefits to starting your own home business, I have seen many people fail for the following reasons. If any apply to you, then a Home Business might not be right for you.

3 Reasons to NOT Start Your Own Business

You don’t have a rock-solid work ethic

While you can set your own hours and work from anywhere, you still need to work, and at times make some sacrifices - like promoting your business instead of heading to the movies with your friends.

 

As the sole person responsible for your success (or failure) you will need to be self-motivated and work hard. Don't underestimate this. The only person who can guarantee your success is you! 

 

Putting in a couple of hour’s work every other week is not going to build you a successful, lasting business. You need to build consistency and momentum in your business if you are to achieve any level of success. You can’t get results from work you haven't done!

 

If you are not willing to take your business seriously and work at it like a boss, or if you're simply looking for a way to make a 'quick buck', then you should probably think again. 

You are unwilling to put time into your self-improvement

Of all the people I’ve worked with, it’s those who have actively invested time in becoming the best version of themselves who are the ones who have had the most success - and the most growth and the most fun!

 

Your business will only ever be as strong as you are. The moment your business will start to fail is the moment you stop investing time in learning and being inspired.

 

You needn’t invest lots of time – 10 pages of a leadership book, or a 20-minute mindset video on YouTube each day can really make all the difference in your business and success.

 

You don’t want to network

No one can succeed alone. No one. Even with a home-based online business, you need to network – in person, online, or ideally both.

 

It’s the best way to keep yourself inspired and motivated, discover new opportunities, get answers and find those all-important like-minded buddies who you can turn to for help and support as your business grows.

 

Networking is also a wonderful way to find potential clients, leads and introducers and keep your pipeline bursting with opportunity.

 

In Summary

My home business has made a world of difference to my life.

 

It enables me to be a very present Mum, spending several hours a day with my children, having fun and supporting their development. I know the memories and the close bonds we are creating now will last a lifetime.

 

It's enabled me to transform from a shy girl into a happy and fulfilled businesswoman. It's also made me want to share what I've learned with others to inspire more women to create the life balance that works for them.

 

It's also allowed me to live guilt-free and relatively stress-free - there is always going to be an element of juggling when you have a family, house and business - that's inevitable - but it's far more manageable now I'm in full control of my time, activities and growth.

 

In my opinion, running your own business is hard work, but definitely worth the effort.

 

Psst...don't miss this!

If you have ever considered starting your own business, but have yet to take the plunge, then sign up for my 5-Day Home Business Challenge

 

Over the five days, you'll get to explore your motivations, start developing a success mindset, understand potential pitfuls and how to handle them and you'll start developing your blueprint for success.

 

You'll come away feeling more confident and ready to start strong so you can accelerate your success.

 

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Have You Started Your Own Business?

If you've started your own business, share your experiences below - or if you are thinking about a home business, what are your reasons or doubts? Share them in the comments below and let's see if we can help.

 

12 Reasons to Start Your Own Home Business in 2018 (and 3 reasons not to).

54 Comments

  1. Kat on December 12, 2017 at 5:06 pm

    Great post! I love that you balance all the reasons to get started with the reality of the hard work it will take! As a fellow small business owner, I always want to encourage people if they’re interested in starting their own, but to also inject the reality! Great read.

    • Melitta Campbell on December 12, 2017 at 9:58 pm

      Thanks Kat! As you say, there are so many benefits, but you have to work for them. But overall, it’s very much worth it…in my opinion ; )

  2. GiGi Eats on December 13, 2017 at 12:57 am

    My work attire is my JAMMIES – hahahhaha! THIS is why I love working from home 😉 Andddd being my own boss too!

    • Melitta Campbell on December 16, 2017 at 2:51 pm

      Haha, yes that’s another advantage! I also like the chance to take a ‘Nana Nap’ at lunchtime too ; )

  3. Vox on December 13, 2017 at 9:36 am

    I really enjoyed your discussion of whether or not to work from home. I’m attempting to start a business again (after being unsuccessful a few times before). I can say that I am more focused and much more willing to network than I ever was. The points you made really resonate with me, since I have tried to be brutally honest with myself about why I should (or should not) try it again. Thanks for sharing!

  4. Kamira G. on December 13, 2017 at 12:39 pm

    I remember starting my blog a year ago and not really knowing about income potential until interacting with other groups. I love that having a home business opens the door to new opportunities and unlimited income potential and freedom. One thing that I have learned being home is the importance of having an established routine and exercise. It’s too easy to work from your bed. I have to be sure to get up and move and exercise daily to keep the blood flowing and get fresh air!

    • Melitta Campbell on December 13, 2017 at 9:43 pm

      That’s great that you’ve discovered the potential of a home business! And you’re right, health and entrepreneurship go together, it’s really important to schedule time for exercise, thanks for sharing the tip. I have some tips for that in my post: 9 Ways to Improve Your Health – Even When You’re Too Busy! : )

  5. Melanie on December 13, 2017 at 2:21 pm

    Really great post! I agree it is very much worth all the hard-work, I love having the opportunity to be inspired everyday!

    • Melitta Campbell on December 13, 2017 at 9:34 pm

      Thanks Melanie – great isn’t it?! : )

  6. Gina on December 14, 2017 at 1:47 pm

    Thanks for the pros and cons! Definitely somethings to think about and explore. Too many people just jump in without knowing the dedication required.

    • Melitta Campbell on December 15, 2017 at 5:17 pm

      Thanks Gina – and you are so right. It’s a great option, but you need to be aware of the commitment involved too : )

  7. Rawlings sunday on December 14, 2017 at 5:53 pm

    This is really a great post with vital points. Business needs time, effort, resources and hardwork and a few put together. If these few are missing, you just to focus on yourself then.
    Thanks for this empowering post.

    • Melitta Campbell on December 15, 2017 at 5:14 pm

      Thanks Rawlings. I see so many people starting a business and expecting it to be all laptops and lattes by the beach…not realising that yes, you can have this but you still have to put in the work too!

  8. Sophie on December 15, 2017 at 10:27 am

    Unlimited money – yessss! 🙂 🙂 awesome post!

    • Melitta Campbell on December 15, 2017 at 5:02 pm

      Thanks Sophie!

  9. Claire on December 17, 2017 at 4:37 pm

    This is good to think about. I’ve been trying to re-ignite my freelancing and it’s not going too well. Just don’t seem to have time to pitch. I think I need to be more focused and forensic in 2018. Not convinced I can make the sort of money I would at a 9-5 job but I’d be very happy to be proven wrong!

    • Melitta Campbell on December 18, 2017 at 4:55 pm

      Thanks Claire. And good luck with your freelancing. I was a freelance writer for 8 years and I earned as much as I would have in an office – some months more! And I got to take all the school holidays off guilt free. I stopped because the deadlines started to become very stressful once my family situation changed. Now I’m loving my home business and again, I’m earning as much as I would in an office – but with much more time-freedom and personal development which is important to me. You can do it! I’d recommend studying mindset though, that’s the one thing that’s made the biggest difference for me. I liked Darren Hardy’s ‘Mindshift’ as a start point.

  10. Hanka on December 17, 2017 at 7:36 pm

    It´s a well-balanced post with pros&cons. The truth is, that sometimes I can feel the pressure: if being SAHM without running an own business (at least an e-shop with crafted products, nappies…) were something not appropriate 🙁

    • Melitta Campbell on December 18, 2017 at 4:52 pm

      Thanks Hanka. I know lots of SAHMs who are very happy and content. It’s all about choice and finding the right balance that makes you and your family happy. What makes each of us happy is very different, so it’s important to never compare yourself to others or feel pressured to do something that doesn’t feel right to you.

  11. Melissa Campbell on December 18, 2017 at 7:29 pm

    I love this topic!! Very well laid out and explained.

    • Melitta Campbell on December 19, 2017 at 8:35 pm

      Thanks Melissa x

  12. Hannah Denton on December 19, 2017 at 9:49 pm

    This is so Inspiring for new year! Thanks so much

    • Melitta Campbell on December 19, 2017 at 9:51 pm

      Thanks Hannah!

  13. Cassie on December 20, 2017 at 8:58 am

    This was a very helpful and informative post! Great work

    • Melitta Campbell on December 27, 2017 at 1:18 pm

      Thanks Cassie!

  14. tanmay on December 20, 2017 at 11:24 am

    Hey Melitta
    As you mention no once succeed alone in online field i totally agree with you and it will inspire new buddies to understand how online works
    Keep Sharing!

    • Melitta Campbell on December 27, 2017 at 1:18 pm

      Thank you Tanmay!

  15. Bushra Alasadi on December 21, 2017 at 10:09 am

    I was always dreaming of starting my own home business until the day I made a decision to start blogging, well I hope my new blog turn into full time home business in one day

    • Melitta Campbell on December 27, 2017 at 1:17 pm

      I think blogging can be a business too. And you can always do both if you choose your niche well : )

  16. Victoria on December 21, 2017 at 4:30 pm

    These are such great tips, my main desire is to have the flexible hours to stay home with my daughter but still have an income. You brought up some great points, especially about the tax benefit!

    • Melitta Campbell on December 27, 2017 at 1:16 pm

      Thanks Victoria, I’m glad you’ve found the post helpful. And that’s one of the things I love most about being my own boss – being able to work around my kids. It’s been invaluable recently!

  17. Adrian K. on December 22, 2017 at 6:25 am

    Living in a busy city, the first two items seem to me to be motivational enough to start a home business…

    • Melitta Campbell on December 27, 2017 at 1:14 pm

      Yes, that’s true! I am certainly enjoying living life on my own terms : )

  18. Jodi Graham on January 12, 2018 at 3:12 pm

    Amazing tips! This is so timely as I’m preparing to leave my own corporate job soon, to work for myself full-time. There is definitely excitement, but also fear – I would add a one more reason NOT to leave your day job to work for yourself would be because you’re frustrated with your coworkers (that just means you need to do some self-work, LOL). Thanks for the great article.

    • Melitta Campbell on January 14, 2018 at 1:20 pm

      Thanks Jodi and good luck with your new venture!

      Be sure to register for my 5-Day Home Business Challenge to help you prepare for success!

  19. Elda on January 15, 2018 at 2:53 pm

    Great tips! I have always wanted to start my own side hustle at home… this has definitely helped me know a bit more about it!!!

    • Melitta Campbell on January 15, 2018 at 5:40 pm

      You should definitely do it Elda – it adds so much to your life, as well as giving you an extra revenue stream which is important in today’s uncertain times!

      Join my 5-Day Home Business Challenge, it will help you start building the mindset you need for success and give you confidence too.

      https://app.convertkit.com/landing_pages/309768

  20. jenny rose on January 15, 2018 at 5:13 pm

    This is so helpful, thank you! I find it quite hard to network in real life, but am really working on it by starting online!
    jenny x | http://www.jennyrosee.com

    • Melitta Campbell on January 15, 2018 at 5:38 pm

      It takes a bit of courage to get started, but once you get into it networking can be a lot of fun. Check out my post on how to build a strong network from scratch and download your free ‘Shy Girl’s Guide to Networking’ they will help : ) Good luck Jenny!

  21. Milkytravel on January 15, 2018 at 9:45 pm

    amazing article. this topic is trully important to me now. i would love to start something on my own, but same time i am afraid i don’t have enough self-motivation. I don’t know how to overcome myself

    • Melitta Campbell on January 16, 2018 at 9:43 am

      Thank you! And I think a lack of self-confidence holds a lot of people back from starting and succeeding with their own home business. But you need to know that success isn’t reserved for a special kind of person – everyone has started somewhere and most of the big names in entrepreneurship were terrible when they first started – they just didn’t let their mistakes stop them, instead they learned from them, grew and kept on going. That’s what success is all about – failure is a big part of the journey!

      Join my 5-Day Home Business Challenge, it will help you start building the mindset and tools for success. It’s completely free and you’ll come away feeling a lot more confident about your ability to be your own boss!

      https://app.convertkit.com/landing_pages/309768

  22. Belle on January 16, 2018 at 5:43 pm

    This solidified all my goals and my hangbacks about starting a business. I definitely struggle with staying on task and establishing a consistent work pattern, but I’m determined to make it work one way or another! Thanks for posting this 🙂

    • Melitta Campbell on January 21, 2018 at 10:34 am

      So please it’s helped you Belle!

      Here’s a quote from Lilly Singh that has helped me knuckle down and stay focused, even when doing the less fun stuff. I always used to say that I’m just no good at being organised. Reading this made me realise that that was just an excuse!:

      “Have you ever noticed how self-discipline takes self-discipline?!”

      Wishing you every success with your business!

  23. Lesley Notton on January 19, 2018 at 4:15 pm

    love this Melitta! it’s amazing how much you grow as a person when you start your own business! I’ve been in business for almost 10 years myself now and I have grown so much! I always say that I’m not a ‘techy’ person but I’ve just written an eBook on Websites! How did that happen?! lol http://www.nottonhouseacademy.com

    • Melitta Campbell on January 21, 2018 at 10:32 am

      Haha, that’s great Lesley – congratulations on your book!

      And you are very right, I’ve done so many things and then looked back and thought to myself ‘I did that?!’ There is no end to the learning and adventure when you’re your own boss. It’s not easy at all, but it’s most definitely worth it!

  24. Amy Almond on January 20, 2018 at 4:13 pm

    Great article. I started a baking at home business in 2015 & a beauty product at home business in 2017. Love working for myself. Thanks for a great read.

    • Melitta Campbell on January 21, 2018 at 10:30 am

      Thanks for sharing your experiences Amy, so happy to hear you are loving being your own boss too.

  25. Michelle - Hold the Moo on February 1, 2018 at 11:02 am

    Awesome that you kept it realistic! So many “start your own business” posts are all flowers and sparkles but I have not seen one where they say why you should not start one.

    • Melitta Campbell on February 1, 2018 at 1:03 pm

      Thanks Michelle! I think it’s important for people to understand what is most likely to trip them up so they can either start strong or save themselves a lot of time and heartache. There are lots of benefits to having your own business, but they don’t come without a lot of hardwork and commitment first ; )

  26. Scott on February 1, 2018 at 1:57 pm

    Very insightful post! Great tips 👏🏽

    • Melitta Campbell on February 1, 2018 at 10:25 pm

      Thanks Scott!

  27. JOHN MULINDI on March 12, 2018 at 7:26 am

    Thanks for sharing these tips, it inspires more new entrepreneurs to get started while having some basic understanding on how to go about business.

    • Melitta Campbell on March 12, 2018 at 4:35 pm

      Thanks for your feedback John!

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