12 January 2022
Written by Lorraine Lea – Simply Home
The ability to juggle time with friends, exercise, health and leisure activities with your boss babe goals creates happiness, leading to increased motivation and productivity.
New year, new side-hustle! If you've ever dreamed of quitting your day job and starting a home-based business, now could be your time to shine. Nearly one million entrepreneurial Australians say their primary workspace is at their residential address, with more and more ditching the traditional 9-5 every year. But what's attracting so many to this non-traditional working environment?
1. Work when it suits you
The 9 – 5 workday isn't for everyone. You might find you function best at the crack of dawn or get a lot of things done late at night, long after everyone else has gone to bed. Having the freedom to control your hours means you can cherry-pick when and for how long you work. This calls for a bit of self-discipline and an ability to separate your "home-life" from your "work-life", but once you've established a pattern, you'll find you have much more time to do the things that are important to you. Make yourself available for the kids' school pick-up, do some volunteer work one afternoon a week, book specialist appointments (without waiting months for the 'before' or 'after work' time slots) or even attend a mid-morning yoga class!
2. Avoid the peak hour commute
Studies have shown that city workers in Sydney spend an average of three weeks per year stuck in traffic, while those in Melbourne spend an average of 500 hours getting to and from work. That's thousands of dollars in lost productivity, not to mention petrol costs and car mileage. When you don't have to be at an office at 9 am, you can avoid the peak-hour rush and spend that would-be-wasted time on your business, a morning exercise class or even a cheeky sleep-in! Skipping the road congestion means a more relaxed, unrushed start to the day for you, which, in turn, will put you in a better headspace to problem solve and get things done.
3. Enjoy a couple of tax breaks
Those who run a business from home have an opportunity to take advantage of a couple of tax perks. You may be able to write off a portion of the work-related expenses you incur, like travel costs, phone bills, internet, electricity and office supplies. Check with your accountant about your eligible tax benefits.
4. Save on low overheads
You'll have fewer operational expenses when your business is operated from your home address instead of an office at a different location. Not only will you save on the hard cost of renting an office space, but you'll also save on the transit costs of getting to and from work, cleaning costs and other incremental expenses that add up over time.
5. Approve your own time off
When you're the boss, you can take time off when it suits you. With the complete autonomy of being a small business owner, there's no need to wait to accrue annual leave or submit a request form when you need a day away from the office. You can take every school holiday or public holiday off if you wish, and even treat yourself with the odd extra-long weekend, knowing you'll make it up to yourself later. Even though it may be challenging to take extended periods away from your business initially, as things get rolling, it will be easier and easier for you to make positive life choices and reward yourself with some well-earned R&R.
6. Create your own balance
Finding the perfect blend of work and life is something that's becoming more and more important to Australians. Working from home is a convenient solution that fits in with a busy family and lifestyle demands. The ability to juggle time with friends, exercise, health and leisure activities with your boss babe goals creates happiness, leading to increased motivation and productivity.
Interested in taking control of your life by starting a home-based biz?
Click here to find out more about running your own flexible Lorraine Lea business.
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