It takes the right type of person and situation to be able to work from home. Many online sellers spend their evenings and days off on the Internet working hard to promote their products. Some may do it for the fun and the extra income while others are really trying hard to be successful and hoping to be self-employed someday.
I would not encourage anyone to tell his or her employer to stick it and jump right into being self-employed. Making the leap from a reliable and steady paycheck to being self-employed is daunting.
So many factors need to be considered and safety measures in place before you can make the change.
The number one things to consider are your finances. Can you afford to not bring in any money for a few months? An ideal situation would to have your spouse employed and able to support the household. They must also be willing to do so as well. If you have no extra income from other sources you can save up enough in the bank to support yourself for at least 12 months (mortgage/rent, utilities, groceries). This will give you 6 months to give your business ideas a try and then another 6 months to spend finding another job should it be necessary. While 12 months seems like a lot of time and money this venture is not supposed to hurt you and make you homeless.
Along with financial consideration, if you plan on buying a car, house, or leasing an apartment, do all of these things before you quit your job. The lenders will ask for paychecks and you will be much better off providing paychecks from your employer than coming up with some shady figures for your self-employed income.
Your next responsibility is all of the benefits you will be losing once you become self-employed. The big one is medical insurance. Buying private medical insurance is extremely expensive. Determine if you can be added to your spouses plan. Besides medical insurance, many employers provide paid vacation and sick days. If you are sick and self-employed you will not be getting paid unless you do work.
Now that you have safeguards in place for loss of income and benefits that will result in leaving your current employer it is time to ask yourself if you can work from home. Be ready to put in more hours and get paid less per hour than your previous employment. Are you disciplined enough to work an 8+ hour day from your home? You will need to fight the temptations to watch TV, go out in the yard, hangout with friends and anything else that may get in your way of working. Are you mentally ready to handle the stress that will follow with slow sales and mounting bills? The fact is not everyone will succeed and you will need to know when to call it quits if it just is not working out.
With all of the above taking into consideration the best advice is to take small steps. Start off working in your spare time growing your revenue and business assets. Once your spare time is no longer enough to meet your customers demands it will then be time to ask yourself if you are ready to work from home.
The ability to work from home is a dream for some and can be a nightmare for others. Becoming successful working from home does have many perks: you are available for your family, you set your own hours, and the amount of money you want to make is dependent on how hard you work. Weigh the risks and benefits and make a joint decision with those that the choice will affect.