Working for yourself isn't all plusses. Sometimes there are huge minuses. It's up to you to determine whether the plusses outweigh the minuses. But, it's good for you to know in advance what the pros and cons of working for yourself are so that you can be realistic about what you're getting yourself into.
Cons:
Work and Home Life Often Collide
Due to the lack of regimen, and no clear delineation of work versus time off, you'll find yourself working odd hours to accommodate the needs of your family and thus feeling as if you never have a day off.
You'll Do a Lot of Work for Free
Much of the work you do for your business is not billable, therefore will feel like free work until you start making a profit. It can be hard to push yourself to do things that aren't producing income right now, but you must push through so that you can keep your business running smoothly.
Family Will Ask You to Do Stuff (since you're not doing anything)
Not just family, but sometimes friends will start to depend on you being there for them for everything. They'll ask you to do their chores like watching their sick kid so they can go to work. Your spouse and children will stop helping out around the house as much, since you're there anyway. It never ends.
Stuff Will Distract You
Without supervision, even the most studious and organized individual can go off the rails due to the internet, television and stuff that is around to distract you from work. It's up to you and only you to set up a good working schedule to help you avoid this.
Pros:
No More Living by the Clock
If you arrange your business right you can wake up naturally without an alarm forcing you to get up when your body isn't ready. You can also go to bed when you want to as well. It's freedom not to always live by the clock.
No More Traffic Jams
One of the best perks is not having to be caught in a traffic jam during rush hour when you need to pee. You won't have to do that anymore and it will be a relief, most especially on bad weather days when everyone else has to trudge through the snow or the heat wave.
Fewer Work-Related Interruptions
Office chatter can get overwhelming at times and it can be difficult to get work done due to it. Not to mention office meetings. Be honest, did you ever really get work done due to a meeting?
A Flexible Schedule
If you have a parent-teacher meeting you don't have to ask permission to go. If you want to get your hair done, go for it. Whatever you want to do during the day is up to you as long as you find time to also get your work done so you can get paid. Your schedule is your own.