Starting A Business From Home

The prospect of starting a business from your own home can be an exciting one. Especially for those that are making their first tentative steps from full time employment to self employment. Working from home has many benefits for those in employment. So it would stand to reason that the positives of running your own business offers the freedom that the nine to five will not. In this post, I propose to offer the ways in which you can start a business from home without the need to acquire an office space in those early days.

Business from Home
Business from Home

If you are thinking seriously about running your operation from home, there are some things you need to consider before setting off on your journey (home).

The financial benefits you can receive are various. If you are struggling to get yourself set up you can get second charge secured loans if you are self employed or not.

Registering your home as a businesses can have great benefits under a search engine can give you the benefits of internet traffic, especially if you are operating a business that requires you to work in a customer facing role, such as a masseuse or a hairdresser. People looking at the local area on a map can see the exact location of your business, making you more personable and accessible to your client base.

Work from Home
Work from Home

You may also be concerned about the drain on your resources that comes from working from home, such as electricity usage, and even the social aspect may be something you can miss, and may suffer from the occasional bout of “cabin fever”. Running a business from home means you can get commercial electricity rates, which can save you money in the long term. It does depend on the nature of your business, so it’s worth looking at that in more detail to see if it will benefit you. And if you are suffering from being indoors, the benefits of a different environment offers mental refreshment. So for example, if you are running an online business, take the laptop out with you and sit in a cafe with a nice cappuccino or herbal tea. Don’t have a laptop but have a bulky monitor and tower? Invest in one, it is a business expense you can claim back when it comes to doing your tax return.

As well as operating from a relaxing environment, working from home gives you the freedom to work when you want. You needn’t feel chained to a desk, sat in an uncomfortable chair. You can work from your couch, and surely that’s the dream, right?

If the prospect of running a business from the comfort of your own home is an exciting one for you, this will help you get started. Good luck, and enjoy the journey to working from home.

Working From Home: Good or Bad for Business?

Thanks to advances in modern technology, it’s now easier than ever to work from home. While this is being touted as a great development by many small business owners, it does beg the question: is working from home good or bad for your business? Now, don’t get us wrong – there are many perks to working from home, including the fact that you no longer have to waste time on the commute to and from work, there are fewer trips taken in your car (and less traffic jams) if you travel in your auto, and there’s no potential for micromanagement in the workplace! Despite all that though, working from home comes with its own sets of challenges.

Work at Home
Work at Home

Ask anyone who has ever worked from home and they can tell you that it takes a great deal of determination, and a lot of focus, to ensure that you are meeting the necessary targets every day. If you’re someone who struggles with focus, working from home may be more of a negative than a positive for you! We think that working from home does deserve a closer look, so we’re going to examine working from home and come to a conclusion about whether it’s good or bad for business.

You lose on the social life

When you work from home you instantly lose out on the social life that is thrust upon you in an office. Even if you’re not the best of friends with your colleagues, at least you have the opportunity to talk to them if you want to. When you’re home there’s no water-cooler talk, it’s just you. So, for many people that can be a huge bonus, and for other people this is a huge detraction from working at home. You need to work out what type of communicator you are, and what kind of working environment you prefer. Some people thrive in a very active workplace, and other people need complete silence. Take a good look at what you actually like, and act accordingly.

Virtual Office
Virtual Office

Your business can look a little less attractive to potential clients

A problem that can arise from having a home office is that it’s not super attractive to invite a client along to a meeting in your living room as it is to meet them in a corporate suite. If you are intending to hold client meetings in your home you need to ensure that your home is as professional as possible. For many of us, that’s just not possible. A solution to this kind of problem is investing in a virtual office space. This way you can appear presentable and corporate when you want to, without the expense of having to rent a full-time promises. Take a look at these Melbourne virtual office deals by Servcorp.

You can choose your own hours

A key bonus to working from home is the ability to choose your own hours. This is hugely beneficial to people who have commitments – like small children say – where you need to be flexible in your arrangements. If you are someone who needs to keep set hours, this can be a little difficult if you have things popping up, but with the right kind of schedule in place you can make it work. Once again it comes down to discipline!

Freedom in Workplace
Freedom in Workplace

You have freedom in the workplace

Another really important part of working from home is that you have the freedom to decorate and keep the office as you like. If you’re self-employed, this can be hugely beneficial for morale, as you can play whatever kind of music you like, but if you work for a company but just happen to be working from home then you need to keep things a little bit professional – at least when you’re on Skype meetings!

So, good or bad for business? We think good. Overall working from home is a great way to hone your discipline and to get better at time management. Of course if you find that productivity is way down for yourself and you’re just not getting the work done then you need to take a good look at your work style and adjust accordingly.

Operating Your Business From Home: The Pros And Cons

If you’re starting out with a new business, you might find yourself in a situation where you’re working from home. This can come with a multitude of pros and cons, and you’ll need to consider whether it’s something you’ll be able to do. While it might seem like a luxurious situation for you to be in, you might not be the sort of person that can operate in this environment. Either way, we’re going to present you with a few things to consider before you get started.

Work Ethic

This is probably the most important thing to think about as you get started working from home. Are you able to manage all of the distractions around you? The best way to work from home is to sit in a study area where you won’t be tempted to take your mind away from work. Ask the family to allow you that time by yourself as well. Just because you’re working from home, doesn’t mean that it’s any less important than if you were in an office. Your business will live and die by your actions, so take it seriously.

Business From Home
Business From Home

Costs

Using your home as a business can sometimes come with additional costs that you need to be aware of. You’ll also need to consider the basics like bills. Businesses can get great commercial electricity rates, so you’ll need to do your research if you want to save money. While hiring office premises might sound expensive, in some cases it could work out cheaper in the long run. Again, shop around and see what you can find. You might just stumble on that perfect deal.

Human Interaction

While you might have family at home, you’ll miss out on the interaction with co-workers if working by yourself. Of course, you might end up hiring employees down the line, but for now, you’ve got to be able to do this alone. For some people, this is somewhat of a blessing that will allow them to work even more effectively. However, it can also be a source of loneliness, and you can find yourself struggling from time to time. Consider what type of person you are before deciding to work from home.

Working From Home
Working From Home

Housing Employees

Let’s say that your business grows rapidly and enjoys a lot of success. In that case, you might find that your company needs a few more employees under its belt. Working from home by yourself is one thing, but bringing other people in is a whole other ball game. Have you got the space to accommodate new employees? Do you feel comfortable bringing outsiders to work in your home? It’s something that won’t be for everyone, and you’ll need to consider whether you can work like this if the time comes.

For the right person, operating from the home can be a fantastic luxury. It could be the best thing that ever happened to your company, but you need to think about our tips before you get started. Analyse the pros and cons, and you’ll be ready to make that decision.