Work From Home – Is It A Job or A Business?

by WorkFromHome on April 20, 2011

The term work from home can mean a lot of different things. For some professionals, it can mean performing their duties as an employee from the comfort of home, instead of wearing an uncomfortable suit and going into the office every day. For others, however, it can mean actually owning and operating their own business, with their home as their base of operations. The Internet has made it easy for Australians with skills in a variety of different areas to enjoy financial success with both strategies, since you can easily log on to connect with either your clients or your employer from anywhere!

Work From Home As An Employee

As an employee working from home, your job duties are still determined by your employer. Just like when you go into the office every day, your boss tells you which tasks and duties to complete and in which order. While you can discuss your deadlines with him or her, ultimately they are still up to your employer to decide.

Many employees who work from home like knowing that they will still be receiving a regular paycheck despite working from their own home. They also receive the same benefits that their co-workers receive. These typically include health insurance, sick pay, holiday pay and even bonus schemes. Employees working at home may even be provided with the technology necessary to do their jobs, such as laptop computers, smart phones, fax machines and printers.

While employees working from home may still have to call into the office at specified times for conference calls with the other members of their team or to discuss work matters with their boss, they are generally still able to take advantage of benefits of working from home, such as a more flexible schedule than if they were working in an office, being able to provide their services to employers located far from their homes and enjoying a better work/life balance.

Work From Home With Your Own Business

When you have your own business you answer to yourself rather than to another employer. Of course, as many business owners will tell you, this also can mean that you are answering to a large number of clients at any given time. When you have your own business, however, you, and you alone, decide how you will prioritize your workload, which projects you will take on, what hours you will work on a given day and how you will build your home-based business.

Unlike employees working from home, there is no guarantee of a steady paycheck when you own your own home-based business. Your income will fluctuate as you enjoy greater success, collect more or less of the monies due to you for services rendered and raise or lower your prices to meet market demand. Many new business owners experience losses for the first several months as they invest in their business.

Your home-based business is an asset that you are creating from the ground up, so it makes sense that you need to spend money on basics like a computer, Internet connection, training, inventory and marketing to get it going. Owning your own business, especially if you have never done so before, involves a lot of trial-and-error, so you may find yourself constantly trying new techniques to grow your sales. These could include changing your pricing structure, offering new services or altering your marketing strategy.

Although your home-based business does not guarantee you benefits like health insurance or vacation pay, or a steady paycheck for the same amount each week, it does allow you the autonomy to grow it so that you can potentially make much more money over time. Eventually, you may even be able to sell your home-based business to another entrepreneur for a tidy profit!

By the same token, though, you also could purchase one from someone else to try to eliminate some of the uncertainty that comes with starting a home-based business. You still will have the potential to earn unlimited income, but you will have to make an initial investment to purchase it. Working as an associate or distributor for a larger business that has support systems in place to help new business owners can help to alleviate some of the risks that new business owners face.

Regardless of how you obtain your home-based business, working from home on your own business means that your flexible hours may mesh with your family’s schedule. You will have the ability to schedule your client meetings and conference calls to suit your preferences.

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