Are you ready to take your side hustle full-time and ditch the corporate office? If you are ready to make money remotely, be sure to have all of your preparations done before taking the jump. Are you benefiting from some of the perks of your company’s offices?
Let’s take a look a few of the things you will have to give up when you start working from home.
When you leave a traditional company, you may be walking away from hundreds of dollars in medical expenses that wouldn’t be available working on your own.
If you decide to go at it on your own, make sure you have enough income put to the side for taxes and any potential medical costs. This can include anything from life insurance to routine visits for your family to the doctor or dentist.
Working in an office will bring you a fair amount of technical problems. You will see your share of internet connection issues and printer problems, but will also have a dedicated IT support team behind you to help fix any mistakes.
Unless you purchase a tech support plan with your internet service provider you may have to spend hours during the day trying to troubleshoot problems. This can include social media, website design, or problems involving a remote server. If you have the ability to fix most common computer issues on your own this won’t be a problem but for the technically challenged it can turn into a major headache.
Who needs 30 pens and seven packs of post-it notes? You do if you work in a traditional office. One of the biggest benefits of working for a company is the seemingly endless amount of office supplies at your disposal. You can stock up on highlighters, printer paper, and staples (to name a few).
Once you start working for yourself all of those items become expenses, and not paying attention to your inventory can seriously affect your bottom line. Purchase too much of a specific product and you could run out of room to store it. Purchase too little and you could find yourself in a mess with a client that you can’t get out of.
Remember to keep track of your supplies and only purchase items when they are needed.
Coworkers and social events
The camaraderie you can build working in an office setting can lead to lifelong friendships and excellent times as everyone grinds through the day-to-day. Your coworkers can help you problem solve issues with a different point of view, or simply be that extra boost of confidence you need to tackle a big project.
Leaving an office to venture out on your own means you will be giving up the social interaction you have become accustomed to. The company holiday party, a summer BBQ, or a team outing to a local event are all some of the wonderful ways you can connect with coworkers.
As you start working from home the interactions you have with the outside world may be extremely limited and unless you can fit it into your busy schedule they may not come up at all.
The 9-to-5 schedule
Creating your own work schedule can be viewed as both a good and bad thing when you start working from home. The good thing is you can work whenever and wherever you want, with only the deadline of a project keeping your priorities in check. The bad thing is that unless you can determine quickly when you work at a peak level, you could end up doing less than quality work on tasks.
You may not necessarily need to run your business from 9-to-5, but keeping a structured workday (regardless of the time) is one of the most important things that needs to be done when starting a remote work from home business.