5 Things to Consider When Starting a Home-Based Business

Starting a Home-Based Business

If you’re the kind of person that simply can’t work in an office environment, and needs the freedom and ability to work from home, then you’ve probably considered starting a home-based business. It’s a unique way of earning an income and one that does need to be carefully considered. Here are a few things you should do in the lead up to opening your home-based business.

Get Your Paperwork in Order

Before your start trading, you’ll need to make sure you have all the required paperwork, permits and registrations in place. This could be as simple as just registering an LLC, but often there’s more to it than that. That’s because what you need varies depending on your business type, what you’re going to be doing, and many other different aspects. Some areas and local municipalities prohibit commercial activities, even home-based ones in areas not zoned for it, so getting professional help with this step is encouraged. If you need help with all the paperwork there are services that will register your business and help with the licenses required.

Create a Home Office

Mental health and productivity professionals the world over reiterate the same piece of advice when talking about working out of your home – don’t work in bed, in front of the TV, or on your dining room table. Make sure you set up a dedicated area or room in your home where you can put a big desk, comfortable chair and all the required communications equipment and office stationery that you need for your office. This way, you aren’t going to let work creep into your personal time and space and you can disconnect from the pressures and stress that accompany your job. The last thing you want is for your entire home to become an office with nowhere to escape to.

Stick to Office Hours

The first thing that happens when people move from an office environment with prescribed hours to a work at home job, or a home-based business, is that they tend to work very different hours. This means that your working hours slowly go from being set to between 9 and 5 to whenever there is work that needs doing or an email or text message to respond to and often this means in the evening. Stick to regular office hours to prevent this from happening and even consider a second cellphone for business use that you leave in your home office in the evenings.

Remove Distractions to Focus

Working in a home environment can take some getting used to because there is a lot more around to distract you. It is much easier to find yourself on the couch catching up on your favorite TV show when you’re at home and not in a formal office, so removing these distractions from your working environment is a good idea. This is another reason to have a home office, but an even better reason to ban yourself from the TV, social media, and the refrigerator during your working hours.

Check Your Insurance Cover

This is a quick and easy one, but no less important. Make sure your home insurance and building insurance caters for your home-based business and any accidents or damage that might be caused from running a business from your home. If it isn’t, find a plan that includes this protection.

Now that you have your permits, created a home office, and put a lock on the refrigerator, it’s time to turn your home-based business from a dream into a reality. Being an entrepreneur is a stressful, time consuming way of making a living, but it’s also one of the most rewarding.