Working from home is becoming increasingly popular, especially within the Millennial generation. But while it's a career lifestyle often chosen by employees of big companies, entrepreneurs can actually also benefit from diverging from the traditional path taken by most business owners. Here are five reasons why working from home can give you, as an entrepreneur, the competitive edge.
More Focused Environment
If you have children or pets living with you, making some changes to your living arrangements may be needed. Compared with an office setting, however, a home-based work station cultivates a more focused environment for keeping on top of tasks that need to be accomplished. From managing payroll to developing product prototypes, you are better able to work on your business without the foot traffic, noise pollution, and office drama that envelop such places of business.
Less Stress
Prolonged exposure to stress can lead to mental burnout and an array of physical health conditions. Entrepreneurs who work in an office or small business environment on a regular basis are at risk of these gradual declines in mental and physical health. By mixing your schedule with some work-from-home days, your mind can recover better. In fact, recent studies support the claim that working from home can decrease stress levels and subsequently improve productivity.
Less Costs
Working from home full-time removes the need for office space, at least until you've got a solid business model, inventory to sell, and brand to grow. Even if you do decide to open a storefront, you'll require less space since many of your operations can be done at home. Companies, such as Apple, started out from small garages in small towns but whose products have now become a household brand.
Higher Employee Satisfaction Rate
Once your business takes off and you grow too big that you can't afford to go solo anymore, you'll need to hire employees. Enabling them to work from home can give you, as an entrepreneur, the advantage of gaining a satisfied workforce who are all more productive and less stressed to perform daily business duties.
A More Holistic Perspective
By working from home and hiring employees who work from home, you are afforded a bigger view of the world and your chosen market. While working from a traditional brick-and-mortar setup can indeed bring people of various cultures together, remote hires are actually able to bring a more authentic cultural impact for your business than groups who have already been staying in one location for a long period of time.
While working from home definitely has its appeals, make sure to consider the drawbacks of it as well, such as less opportunities to network and lower visibility for your brand during the initial phases of growth.
By: Jenny Holt