Six of One, Half a Dozen of the Other

Written by Elena Fawkner

Continued from page 1


As an employee,repparttar most you have worry about is paying your state and federal income tax and claiming whatever credits you're entitled to. When you're an employer you have to think about all of that as well as self-employment tax and a myriad of other business-related tax issues. An accountant becomes an absolute necessity. Also, as a self- employed person, no-one's withholding tax from your checks. Make sure you put enough aside to payrepparttar 117957 tax bill!


Security is relative. For some, security comes only from working for someone else. For others, this is merely an illusory form of "security" since none of us really knows what's aroundrepparttar 117958 corner. We could be next to be laid off. For some, real security can only come from being in control of their own destiny and that means working for oneself.


As a self-employed person you need a broad skill set. Not only must you be able to performrepparttar 117959 main skills inherent inrepparttar 117960 business you have chosen for yourself, you must also be able to handlerepparttar 117961 myriad other jobs aroundrepparttar 117962 office that your secretary would otherwise do for you if you were inrepparttar 117963 paid workforce. This forces you to be something of a generalist which in turn dissipates your focus fromrepparttar 117964 central core of your business. When you work for someone else, you are generally more able to specialize in a particular area and, over time, develop something of an expert status, increasing your marketability inrepparttar 117965 workforce.


Inrepparttar 117966 corporate work-world, you have a certain professional image to uphold. When you work for yourself, at least on days when you don't have to meet with clients, you can wear what you want, even your rattiest sweats, if that's what you feel most comfortable in.


Some people think that leavingrepparttar 117967 paid workforce to work for themselves from home means they will work less hard and fewer hours. The reality is usuallyrepparttar 117968 opposite. Inrepparttar 117969 early days of a home business you will probably find you need to work harder and longer, only to make less money than you did in your paid job. This will get easier over time but inrepparttar 117970 early days, expect to have your nose torepparttar 117971 grindstone.


Who's going to provide for your retirement when you work for yourself? You've got it, you! No more employer-funded pension plans for you.


When you work for someone else you get paid like clockwork, even if your employer hasn't yet been paid what he or she is owed from clients. When you work for yourself, whether your client pays often determines whether YOU get paid. So you need to be diligent in following up slow payers and take appropriate action in response to non-payers.


When you work for yourself you can kiss goodbyerepparttar 117972 endless office politics that used to drive you crazy. Onrepparttar 117973 other hand, you're also out ofrepparttar 117974 loop.


Along with being out ofrepparttar 117975 loop comesrepparttar 117976 isolation monster. Althoughrepparttar 117977 early days of your home business may be an absolute luxury compared torepparttar 117978 rigors of your corporate work- life, over time you may find you start missingrepparttar 117979 office politics and lunches with colleagues.


Once you leaverepparttar 117980 corporate life for home-business entrepreneurship you may find it hard to get back in, if that's what you decide to do. Many employers will label you as "not corporate enough" if you've been out ofrepparttar 117981 workforce for any length of time. They may also, however unfairly, figure that you couldn't make it inrepparttar 117982 corporate world which is why you left to start your own home business and now that's failed too.

These are just a few ofrepparttar 117983 issues you need to think about when deciding whether working for yourself or working for someone else is right for you. It's crucial to be brutally honest with yourself about your particular strengths and weaknesses, as well as your emotional and mental make-up. A good way to dip your toe in is to consider moonlighting - starting a home business onrepparttar 117984 side while you continue to work your full-time job.

Sure, this will mean some both-ends candle burning but better that than makingrepparttar 117985 break and then finding out you made a mistake. Another alternative that may work well for some is to telecommute. Work for someone else out ofrepparttar 117986 comfort of your own home. These types of positions are pretty rare and usually can only be negotiated by long-term employees in positions that lend themselves to individual, as opposed to team, projects. But don't let that discourage you. If you have particular expertise in a field that lends itself well to telecommuting and your boss won't go for it, start looking around for companies that will hire you on this basis.


This article touches on some ofrepparttar 117987 major areas that you need to think about when deciding whetherrepparttar 117988 self- employed or employed option is best for you. For a more detailed treatment of these and other issues, check out repparttar 117989 following articles at : => And Neverrepparttar 117990 Twain Should Meet => Checklist forrepparttar 117991 New Home-Based Business => Entrepreneurship: Do You Have What It Takes? => Flippingrepparttar 117992 Switch: How to Turn Off Your Business and and Turn On Your Life => Focus Your Light => Getting Paid ... Minimizing Bad Debts in Your Home Business => Howrepparttar 117993 9 to 5 Grind Could Be Costing You More Than You Earn => Look Before You Leap ... Is a Home-Based Business REALLY For You? => Moonlighting's Greatest Challenge ... How to Beatrepparttar 117994 Time Crunch => One Foot in Each Camp => Overcoming Isolation in Your Home Business => Overcoming Procrastination in Your Home Business => Putting Theory Into Practice ... A Personal Perspective => So You Want to Be a Freelancer => The 9 to 5 Home-Business Tug O'War => The Telecommuting Alternative.

Elena Fawkner is editor of A Home-Based Business Online ... practical home business ideas, resources and strategies for the work-from-home entrepreneur.

Creating a Professional Image For Your Home-Based Business

Written by Elena Fawkner

Continued from page 1

Once Potential Client becomes an actual client and you've proved to his satisfaction that you are professional and competent, you can tell him that you've decided to start working out of your home to reduce unnecessary overheads and give him your direct phone number.

No matter how enlightened your client-base is as a general rule, it is imperative thatrepparttar telephone be answered in a businesslike manner. I don't care how sympathetic, supportive and admiring your clients are of your decision to balance your work and family commitments by running a successful business from home, there is nothing cute about a five year old answering your business line. It's unprofessional, not to mention downright annoying.

So have a separate phone line for your business and lay downrepparttar 117956 law to your household that no-one, NO-ONE, is to answer it but you (unless, of course, you're employing your teenage children in your business in which case they should be instructed on how to answerrepparttar 117957 telephone in a professional manner). If you're away from your office, divert your calls to your answering service.


Something else to think about isrepparttar 117958 image of your email address. Which is Potential Client to consider more corporate/professional: or

It's worth spending $35 a year on your own domain name just forrepparttar 117959 professional email address, even if you never intend to create a website. Mind you if you're going to have your own domain why NOT create your own website? But that's another article ...


It goes without saying that your stationery, business cards and other promotional materials should reflect a professional image. If you have incorporated your business or registered a fictitious business name as recommended earlier, this is a good start. A company or business name on letterhead and business cards can't fail to convey a professional image provided they are professionally printed on quality stationery stock.


There's no point having quality stationery if you're going to use a cheap and cheerful inkjet printer for your correspondence. Invest in a medium quality laser printer instead. They don't cost a lot of money these days and you can get a unit that triples as a fax machine and photocopier for only a few hundred dollars.

So, what do you think? You may be thinking "I wonder whether it's really worthrepparttar 117960 effort to try and please just a small number of potential clients". Is it worth it? Well, look at it this way. Are these suggestions really anything more than basic, common sense, professional business practices? Regardless of what your potential and existing clients may think about repparttar 117961 concept of businesses run out of their owners' homes, first impressions DO count.

Elena Fawkner is editor of A Home-Based Business Online ... practical home business ideas for the work-from-home entrepreneur.!FLM

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