We know that keeping track of our bottom line means paying attention to revenue and expenses—but in addition to money, there are things that have value in our businesses that we can consider as part of the “perks” or part of the overall value of our business operations.
When I think of other things besides money, I am thinking of things like frequent flyer miles, flexible time, and other perks that are specific to the type of work you do. If you receive samples from vendors or are able to attend conferences and events as part of your job, or you accumulate frequent flyer miles for your business trips to use on personal trips, then these items can have a value that is “as good” as additional profit. Especially if they do not come in the form of something that you have to pay taxes on!
What are some of the other things to consider when you are looking at the entire “value package” of your home business? Do you have any trade agreements or “in kind” trades with other businesses or organizations? For example, perhaps you offer your services to a colleague or friend in exchange for getting a hair cut or free printing. Many small businesses survive on these business trades and there is definitely a value to the goods and services that you may be getting in exchange for yours.
I know that we all want to make more money (at least I am assuming that most of us do) and that we really need that money to pay the bills and continue investing in and growing our businesses, but there are other bonuses that come from home business ownership too. Keeping track of those things and considering their value may give us a more accurate picture of the benefits of our home businesses.
See Also: The MONEY Blog