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Drawbacks

So… you want to be a business owner. Congratulations! Owning a business can be one of the most rewarding and satisfying experiences in life today. It can also be one of the most challenging and frustrating experiences imaginable.

The good news is that you get to work for yourself without anyone interfering with your quest toward success. The bad news is that being the “Chief of Everything” can lead to long hours and a lot of stress compared to working for someone else.

Here are some of the most important pros and cons of owning a small business to think about before jumping into the fray.

What Are the Pros of Owning a Small Business?

1. There is more job security.
When you own a small business, you’re in charge. No one is going to be able to fire you. The only way you lose your job is if your business doesn’t become a success. Work hard and there’s a chance you might find that success.

2. It can be a money-maker.
Owning a small business creates more income potential. In the first years, it might be difficult to turn a profit and make a lot of money, but in 5 years? That often changes. Compared to traditional employment, owning a small business creates more chances to achieve a windfall.

3. You have autonomy.
Being a business owner means you get to be your own boss. You get to make the decisions that are going to put your business into a place where it can grow. No one can hold you back unless you allow them to do so. You get to be in charge of whatever success you manage to achieve because you have complete oversight over the process.

4. You get to follow your passion.
How many people do you know hold down a job because it provides them with a paycheck? Going to work and being miserable every day is no way to live. When you own a small business, you get to pursue what you are passionate about. If you are in a position to hire others, then you can find like-minded people who share your passion. There are no boring days waiting for you here.

5. It provides roots.
Owning a small business means settling down into a neighborhood or community. It means getting to know people. This creates a sense of belonging. You are in a position to help others. That is a rewarding experience on its own.

What Are the Cons of Owning a Small Business?

1. It is a financial risk.
According to information from Bloomberg and published by Forbes, 80% of small business owners will see their venture fail within 18 months. Just 5% of new businesses started today, no matter what the size, will be operating 5 years from now. That is the financial risk you are taking as a business owner.

2. You’re going to be working longer hours.
You might get to set your own schedule as a small business owner, but that tends to be for solitary items in the day – like a doctor’s appointment or maybe a day off to accommodate a sick child. 30% of small business owners work 50-59 hours per week. Another 33% work 40-49 hours per week. Just 5% of small business owners work shorter hours compared to traditional employment.

3. You can get stuck dealing with the mundane.
When you own a small business, you’re stuck dealing with everything – especially if you’re the only employee. If the computer goes down, you get to deal with fixing it. If you need taxes done, you do them or hire an accountant to do it for you. The details of running a business are very different from the pursuit of what you are passionate about.

4. There are hard decisions to make.
When you own a business, many friends may come along, asking you for a job. You might need to turn them down. You might need to fire someone with the full understanding that you’re putting their family into a financially risky situation. Owning a business is tough. There are difficult decisions waiting for you and you’ve got to make them.

5. You can be vulnerable to distractions.
Even if you start your small business from a home office to save on startup costs, you’re not free from problems. A home office means home distractions. People come to your door. Your family always interrupts what you’re doing, even if they don’t mean to do so. Working from home can also make it difficult to hire someone if you need help should your business grow.

These owning a small business pros and cons show that it can be a pleasurable, rewarding experience. There are also some difficult steps waiting for you on the road ahead if you start a business. That is why it is always a good idea to make a fully informed decision when thinking about becoming a business owner.

One Final Important Note

I highly recommend that you take a look at this before you go, "How to Get an A+ on Every Essay and Research Paper That You Write."

Owning a pet is often compared to building a family. Owners are even referred to as “pet parents.” The unconditional love that a pet provides can be a warm and welcoming experience after a tough day. There are also many challenges that come with pet ownership.
Here are some of the pros and cons of owning a pet that are worth thinking about before taking the plunge.

List of the Pros of Owning a Pet

1. They can be a source of stress relief.
The consistent support and love for a pet can relieve stress. Just the simple act of having a dog sleep in a room with you can provide this benefit. Pet ownership has also been known to fight loneliness, treat depression, and learn empathy.

2. They offer a line of defense.
Dogs might be known for their ability to guard their territory, but other pets can provide a defensive network for the home as well. Cats have been known to defend families, especially when young children are present.

3. They can help people get healthy.
A happy dog is one that is going on a walk. That exercise helps them and helps you as a pet owner. Playing with pets can strengthen a person’s immune system and encourage the brain to accept new information.

List of the Cons of Owning a Pet

1. Pets make messes.
Owning a pet means cleaning up after them. Accidents are going to happen, no matter how well-trained the pet may be. Pet urine and feces can be destructive to carpets, flooring, and even sub-floors. It can also create an odor problem. That is why many rental homes do not allow pet owners as tenants.

2. They have medical costs.
Most communities require pets to be licensed to be legally owned. Pets need to visit the veterinarian at least once per year for health checkups. Certain pets, like dogs, may need heartworm treatments or rabies shots for legal ownership as well. It can cost hundreds, if not thousands, of dollars per pet for medical care each year.

3. They are treated like property – unless they attack.
If your pet attacks someone else, then you are held liable for their injuries, expenses, and associated costs. If your pet destroys someone’s property, you’re held responsible. From a legal standpoint otherwise, however, pets are treated as property instead, which can limit a person’s right to a loved pet during a separation.

These owning a pet pros and cons show us that it is a responsibility to do so, but one that is often worth making. Only bring a pet into your family if you know that you can make them comfortable and happy.

One Final Important Note

I highly recommend that you take a look at this before you go, "How to Get an A+ on Every Essay and Research Paper That You Write."

For many generations, the dream of home ownership was the culmination of long years of hard work. If you owned a home, then you made it. Changing economic circumstances have altered that perception.

Yet owning a home can still be a rewarding experience. Here are some of the pros and cons to think about.

List of the Pros of Home Ownership

1. You have access to greater privacy.
Owning a home means you don’t have a landlord coming around to inspect the property every so often. You’re not kept to certain standards of conduct either. You have much more privacy when you own instead of rent.

2. Costs are predictable.
You know how much your mortgage is going to be every month. You have a general idea of how much you’ll be paying in property taxes. There is much less uncertainty when it comes to these costs of living compared to the annual changes that renters typically experience.

3. Some costs may be tax deductible.
In the United States, many homeowners qualify for a tax deduction. The property taxes and interest paid on the mortgage are often deductible if individuals or households qualify for itemized deductions.

4. Houses often increase in value.
The value of a home usually goes up. Even if pricing remains level, home equity provides added value for families. That makes it possible for the home to become an asset over time that can become a needed nest egg.

List of the Cons of Home Ownership

1. It is a long-term commitment.
Owning a home often requires a 2- to 5-year commitment to maximize the financial gains that are possible.

2. Homeowners pay maintenance costs.
The maintenance costs of wear and tear are the responsibility of the homeowner. That means expensive repairs can come up unexpectedly, like replacing a water heater or fixing a broken toilet.

3. It requires a down payment.
Although there are some $0-down mortgages, most require a down payment of at least 5%. Some mortgage providers may require a 20% down payment. There are also closing costs to pay and then moving expenses to handle.

These owning a home pros and cons show that it can be a fun and rewarding experience, but one that must also be responsibly managed. Over time, many homes can become an asset. It is when they are not treated with care that they tend to become a liability instead.

One Final Important Note

I highly recommend that you take a look at this before you go, "How to Get an A+ on Every Essay and Research Paper That You Write."

Take a look outside. There’s a good chance that there is some form of advertising you can see right now. Even if all you can see is a vehicle you own, the branding on the outside of the car is a form of advertising. The dealer’s name on your license plate frame or on the back of your vehicle is advertising as well.

Here are the pros and cons of outdoor advertising to think about.

What Are the Pros of Outdoor Advertising?

1. It is a cost-effective option.
The cost-per-exposure for advertising outdoors is one of the best in the advertising industry. It is comparable to the cost per thousand impressions for internet advertising. That is because outdoor advertising can be placed in high traffic areas while requiring minimal ongoing maintenance.

2. It creates an immediate first impression.
If someone is looking for what you offer, the impact of outdoor advertising is immediate. That individual just became a prospect, especially if the advertising contains contact information.

3. It encourages impulse purchasing.
Outdoor advertising is geared toward emotions and current physical states. Motels advertise on billboards along highways because people feel tired after driving. It is a way to reinforce the positive aspects of brand messaging while creating a value promise that a person’s needs will be fulfilled.

What Are the Cons of Outdoor Advertising?

1. High traffic areas don’t always equate to good prospect areas.
Just because lots of people go through a specific location doesn’t mean there will be high levels of brand interest. If a billboard for pickles goes up in a town where everyone hates pickles, it will be difficult to generate customer interest.

2. Vandalism can affect the experience.
Outdoor advertising must be routinely inspected to ensure that it displays properly. Vandalism can cause the value of the investment to be reduced. Even weather damage can be enough to stop potential customers from contacting a business for needed services.

3. It can be difficult to remember contact information.
Think about the last time you saw a billboard. What was the call to action you saw? Was it a phone number to call? An exit to follow? A highway to find? Outdoor advertising is intended to make an immediate impact. It has a minimal influence on long-term needs.

These outdoor advertising pros and cons show that this can be an effective solution for brand communication, but not for every business. That is why every advertising option should be carefully considered.

One Final Important Note

I highly recommend that you take a look at this before you go, "How to Get an A+ on Every Essay and Research Paper That You Write."

When software is “open source,” it means that it is publicly accessible. It can be shared or modified to make it a useful platform for people to use. Open source software has source code that can be inspected, modified, or enhanced.

Here are the pros and cons of open source software to consider.

What Are the Pros of Open Source Software?

1. It is a cost-effective solution.
Many open source software solutions are free to use. Even if they are not free, it is usually because of the need for plugins, widgets, or other professional third-party products. For those who use per-license software, an open source solution can provide huge savings.

2. It is consistently improved.
Because anyone can work on open source software, communities form around the need to troubleshoot or update the product. People can add features, stop bugs, and improve it in other ways, often without the need to seek formal permission.

3. You can use it how you wish.
Open source software doesn’t have copyright issues, royalty concerns, or other payments associated with its use. You can use it how you want to use it. You can also adapt the software to fit your needs if you wish.

What Are the Cons of Open Source Software?

1. Ongoing costs can be a problem.
Although you can save on the initial cost of new software by using an open source product, there are long-term costs to consider. Many have found that the maintenance and support costs for open source products tend to be higher than vendor-designed products.

2. It takes time to learn the product.
Microsoft Word and Open Office are two similar productivity software options. Open Office is the open source version of Word. Although the outcomes are similar when comparing the two, how users can achieve those outcomes involves some very different steps. It always takes time to learn an open source product, especially if someone is used to a vendor-designed item.

3. It could be abandoned.
There is no guarantee that the community around an open source product will be permanent. The project could be abandoned, which means you’re suddenly responsible for any updates you may need.

These open source software pros and cons show us that the benefits usually outweigh the risks involved, but not always. That is why it should be part of the conversation, but not an automatic decision.

One Final Important Note

I highly recommend that you take a look at this before you go, "How to Get an A+ on Every Essay and Research Paper That You Write."

An open circulatory system is able to pump blood into a body cavity, called a “hemocel.” The blood then diffuses back to the circulatory system between cells. Tissues are surrounded by blood from the heart as it fills up body cavities instead of using a routing system of arteries and veins.

List of Open Circulatory System Pros

1. Pressure changes do not create vulnerabilities.
Within an open circulatory system, pressure changes do not have the same negative impacts. That makes it possible for life to exist in high-pressure environments, such as at the bottom of the ocean.

2. It creates less urgency.
An open circulatory system processes oxygen and carbon dioxide through separate systems. This reduces the amount of urgency within the system to restore balance. When both systems are working as they should, balance is achieved at virtually all times.

3. Body temperature control is better.
Open circulatory systems can dispel heat more efficiently, which makes it possible to live in a high temperature environment. In colder temperatures, heat can be maintained if shelter can be found.

List of Open Circulatory System Cons

1. It is almost impossible to increase blood distribution.
Because the heart causes blood to fill into body cavities, the total capacity of the system is achieved with virtually every heartbeat. That makes it difficult to increase the velocity or distribution of the blood flow should changes be required.

2. It requires a low metabolic rate.
Most open circulatory systems create a low metabolic rate because there are limits to the diffusion process which cannot be change. This results in slower movements and adaptability to new environments.

3. It does not work for larger creatures.
An open circulatory system only benefits small creatures because the size limits the distance the blood must travel to each body cavity. For larger creatures, the diffusion process would be slow enough that cell starvation could occur because not enough oxygen could be processed in time.

These open circulatory system pros and cons offer key points to consider when evaluating its efficiency. Some systems see improvements with body muscles helping the diffusion process. Others rely on a heart. Either way, because oxygen intake is controlled by another system, there will always be natural limitations to this design.

One Final Important Note

I highly recommend that you take a look at this before you go, "How to Get an A+ on Every Essay and Research Paper That You Write."

Online shopping is defined as the act of purchasing services or buying goods over the internet. It is a way to shop for multiple items or compare the rates of service providers from the comfort of home or on a personal mobile device.

The benefit of shopping online is that it saves time because there isn’t a need to travel to a physical store. Some customers may save money as well, when the cost of an internet connection or data plan is compared to the wear-and-tear costs of a vehicle traveling to a store.

The disadvantage of shopping online is that you cannot see the physical product being purchased or meet the service provider in-person. One must trust that the description of the goods or services is accurate so that personal needs can be met.

Here are some additional key online shopping pros and cons to discuss.

What Are the Pros of Online Shopping?

1. It is easy to compare prices.
Multiple websites often sell the same product. Imagine needing to travel to Walmart to check on the price of a board game and then needing to travel to Target for a comparison. Thanks to the internet, both stores can have their websites pulled up in a separate tab so that the prices can be instantly compared.

2. Customers have more access to a variety of products.
There are no local restrictions in place when shopping online. Consumers can shop globally for the goods or services that they want or need. Although shipping costs for international purchases will be higher and delays of up to 12 weeks may occur, there are few limitations. That means there is a greater variety to the shopping process.

3. There are no checkout lines to worry about.
Shopping online is simple and easy. Just add the wanted goods or services to the shopping cart on that website and then checkout when ready. The desired items are itemized with clear pricing. Sales taxes are automatically populated, though some purchases may not require taxes to be charged. Shipping charges, if they apply, are automatically calculated as well.

4. Sending gifts to others is cheaper when shopping online.
Traditional shopping requires customers to purchase an item, package it up, and then pay for shipping so that it can be delivered as a gift. When shopping online, customers only need to change the shipping address to have the package delivered. With a service like Amazon Prime, that means free shipping.

5. Products sold online are often cheaper than those sold in stores.
To encourage online shopping, many stores offer discounts on products purchased online compared to products purchased in their stores.

What Are the Cons of Online Shopping?

1. Products can’t be tried before they are purchased.
If someone is unsure of how much value a product may have, there is no way to relieve that concern when shopping online. Clothes or shoes cannot be tried on. Electronics cannot be verified until they are received. That means there is a certain risk to an online purchase, even if the product description is accurate.

2. There may be shipping costs or delays.
Many websites offer free shipping, but only if the order meets a purchasing threshold, such as $75. Other sites charge a flat shipping fee for every order, no matter what. At the same time, the availability of the product may not be what the website reflects. You may pay for an order, only to receive a message that it is backordered or unavailable. A refund is then processed, but that could take 5-30 business days to complete.

3. There is no guarantee of delivery.
Websites rely on third-party shipping companies to deliver their products. There is no guarantee provided that the product will arrive in usable condition. Insurance, returns, and replacements are usually provided, but if these options must be used, it delays a customer’s use of that item. When you go to a store, you know exactly what you’re bringing home that day.

4. Shipping charges can be higher than the product cost.
The item a customer wants to purchase is $4.95. The cost to ship that item is $5.95. That means the consumer cost of shopping online is more than double for that item when compared to shopping in-person.

These online shopping pros and cons show that this process is usually beneficial to companies and consumers. Prices are typically cheaper, shipping is fast, and the products arrive in good condition. There are times, however, when online shopping can also be a negative experience.

What is the best deal you have ever found while shopping online?

One Final Important Note

I highly recommend that you take a look at this before you go, "How to Get an A+ on Every Essay and Research Paper That You Write."

Since the 1980s, the growth of the knowledge economy has been staggering. It has generated high-skill jobs, given the general public access to the internet, and changed the way we look at information. Another change to consider is the growth of online learning due to this information access.

Online learning makes it possible for anyone, anywhere, to learn something new. It also makes it possible for anyone, anywhere, to provide false information and fool people into thinking it is real.

Here are some more online learning pros and cons to consider.

List of the Pros of Online Learning

1. There are high levels of availability.
Many schools are offering online learning opportunities today. From elementary schools to doctorate programs, some, if not all, of the program can be accessed online.

2. There is around-the-clock access.
With online learning, students have 24/7 access to their curriculum, communication forums, and other program components that is not always possible with traditional classroom structures.

3. There are fewer travel requirements.
Many online learning opportunities can be completed at home. There are mobile-friendly options available for those who travel frequently. Even if travel is required for testing or final reviews, there are fewer transportation requirements when completing an online learning course.

4. It offers multiple formats.
Online learning involves text, graphics, and video. Virtual classrooms, animation, and video calls all combine to create a unique learning experience.

List of the Cons of Online Learning

1. There can be technology problems.
If there are connection issues at any level, then accessing the online learning resources can become difficult – and sometimes impossible.

2. It requires self-motivation.
Because of the isolation involved with online learning, students must be self-motivated to succeed. Procrastination can be difficult to defeat when working on one’s own through an online learning course.

3. It may not offer financial aid.
Although financial aid is available for many online learning courses, it isn’t a guarantee. Some online learning courses are offered for free, but others may be similar to the cost of a traditional class. If financing is not available and scholarships do not apply to the course, there are students who may not be able to afford some courses.

These online learning pros and cons can help each student find the best program to meet their needs. Search through the options available to you and then choose the online learning opportunity which will keep your education moving forward.

One Final Important Note

I highly recommend that you take a look at this before you go, "How to Get an A+ on Every Essay and Research Paper That You Write."

Whether you’ve got a child enrolling in kindergarten or you’re enrolling into a graduate-level program, online classes have become a common teaching and learning method for schools. With online K-12 programs, undergraduate degrees, graduate degrees, and even some doctorate programs, online classes can benefit everyone.

Some online classes are even offered for free. Here are some of the pros and cons to consider with this unique class structure.

List of the Pros of Online Classes

1. It is more convenient.
Online classes allow you to study and submit classwork from home. Video conferencing allows for in-person teaching without the need to travel to a physical classroom. Some classes may require tests to be supervised by independent third parties, but that is usually the only travel requirement.

2. It is less expensive.
Not only are the commuting costs removed, but the tuition costs are usually much lower for online classes.

3. It takes less time… or more time, if you prefer.
Online classes allow you to work at your own pace. That allows you to move quickly through degree/certification requirements or gives you the chance to take one class at a time. It is much easier to match your class schedule to your life schedule.

4. It provides resource access.
Online classes often offer easy resource access, including virtual libraries, that make it cheaper and easier to study.

List of the Cons of Online Classes

1. It is isolating.
Even if you work in groups, online classes keep people in front of computer screens. There is little human-to-human contact in this format.

2. It has technology costs.
There are technology minimums which must be met to attend most online schools. This may include a high-speed internet connection. If a student does not have this at their home, then they may need to travel to a library, school, or other location to study.

3. It is difficult to measure results.
Online schools require online interactions and the submission of written materials to help show evidence of learning. Some results, however, cannot be measured by the written word. How does an instructor know if the student wrote the report or if someone else wrote it for them? There are fewer checks and balances.

Online classes have numerous pros and cons to consider at the individual level as well. Because of its ease and convenience, many find that the positives often outweigh any negatives that may be present.

One Final Important Note

I highly recommend that you take a look at this before you go, "How to Get an A+ on Every Essay and Research Paper That You Write."

Capital One has introduced online banking to a national level in the United States. Customers can open savings and checking accounts remotely and then access their balance online without ever needing to visit a physical location. Many local banks and credit unions offer similar services for their customers as well.

Here are the online banking pros and cons to consider.

List of the Online Banking Pros

1. You can pay your bills online.
Recurring payments can be scheduled so that bills are paid automatically on the same day every month. That makes it much easier to manage personal finances.

2. You can transfer money when needed.
If you spent a few extra dollars at the grocery store and your checking account is short, online banking allows you to transfer funds out of your savings account from a mobile device. With online access, you gain total access to all your money.

3. You gain added security.
Online banking is very secure. It eliminates the need to carry cash with debit card access. You can shop through apps, shop online, or pay for local purchases. It only takes a couple of clicks to get the account setup and most financial institutions provide 24/7 customer support.

List of the Online Banking Cons

1. Data breaches are possible.
Although you gain more security by carrying less cash, there is always the possibility of a data breach. No website is 100% foolproof against hacking efforts. Your information could be compromised.

2. Some transactions are not possible.
If you have cash that needs to be deposited into your account, you’ll have to go to a physical location or an ATM. Many banks offer online check deposits today, but cash and certain international transactions must still be done in person.

3. Impulse purchases are harder to avoid.
With cash, once it is gone, you can’t purchase anything else. With online banking, many people fall into a trap where they spend the extra money in their account because they have it. Budgeting skills must be in place for online banking to be a successful user experience.

These online banking pros and cons are just the beginning. Many providers offer unique, individualized experiences to help each customer make the most out of their accounts.

One Final Important Note

I highly recommend that you take a look at this before you go, "How to Get an A+ on Every Essay and Research Paper That You Write."