Most people think that working from home is awesome. They are right. It is awesome. But there are some downsides to it, and not everyone is going to be wildly successful doing it. In fact, I think some people are better off with a normal job.
Don't get me wrong – I don't want to discourage anyone from achieving their dreams. If you want to work at home instead of going to a job every day, please – do it. But you should know the whole picture before you jump in head first.
Top Reasons You Might Want to Keep Your Job
I run a pretty tight ship with my budget and finances, so I know what money is going where, how much, and when. But monthly income varies widely. Some months I think, “Wow, I am soooo rich!”, and other months I think, “Oh my god, my business is failing.” It can be stressful. If you have a wife, kids, or a huge house payment, you definitely need to think about the problem of financial ambiguity.
My business is still relatively new (less than 3 years old), so money fluctuates a lot. People that have been in business on the internet for 5, 10, or 20 years don't see those types of fluctuations.
Can you hang in that long to achieve that kind of stability?
Knowing how much you are going to make, when the checks are coming in, and how much you're going to get next month, and the next after that can provide you with a sense of security.
Depending on what your job is, you may need to take orders from a boss. Usually, this sucks. But I've found that with someone telling you what to do, work is a lot less stressful. When I had a job I didn't really have to think for myself most of the time; I just did my job.
Being in charge of a business means your brain is going to be scattered all over the place. There are going to be many things you need to take care of. You are going to need oversight, and the ability to direct yourself. Can you do it? Remember, there's not going to be anyone that can tell you, “Yes, this is the correct way”, or, “No, that's wrong.”.
Lack of Accountability
Again, this will depend on your job, but for many people, when 5 o'clock rolls around, the day is over. You can go home, turn on the TV, and relax for 5 hours. You don't have to go to work til tomorrow. There's also 2 days off every week where you don't even have to think about work. Two whole days.
I work from home and I constantly think about my business. I constantly work on my business. I shouldn't, but I do. It's important to me. I want to succeed, and I'm stressed about this or that. There's always something to do, or something I should be working on. Technically I could take a break, but I WANT to work. Even when I'm not working, I'm thinking about working.
It's the curse of the entrepreneur. It's great being in charge, but there's going to be a lot on your mind, a lot of the time. Are you read for it?
Though in just the past year or so there's been a lot of talk about companies revoking a lot of the benefits previously enjoyed by employees of companies, and especially of long-term employees. Things like health and dental insurance, 401Ks, workman's comp, accident insurance, and retirement plans, might be part of the deal.
When you work for yourself, not only are you in charge of setting these up for yourself (ie choosing the right plan for the right cost), but you have to pay for them! It's going to cost me $300 per month for health insurance.
My dad has a plan worth more than double that through his job.
I've got to set up my own IRA, and there's no company to ‘match my contribution' (some companies match the amount you put in a retirement plan, thus giving you double money for retirement). I've also got to pay my own Social Security and Medicare, while many employers pay HALF for their employees.
Yup. I have to plan and pay for all that. No help from anyone.
Like I said, I don't want to scare anyone from starting an online business. Despite some of these positives of having a regular job or career, I would never go back to it. Never.
I would rather make half an employees salary working for myself.
It's just how I roll. I love the freedom. I love being in control. I love waking up late in the morning. (it's the simple things, isn't it 🙂
Can you think of more benefits to having a normal job? Let us know in the comments below.