A Clear Path Editorial TeamMany successful business ventures got their starts in garages, home offices or at kitchen tables. If you’re ready to launch your small business with a goal of operating primarily from a home-based location, it might be time to consider a move that provides both your business, and your family, room to grow. Let A Clear Path help, starting with the following tips:
While launching a new business and moving to a new home simultaneously might feel like a daunting task, when done in a well thought-out manner and the right people on your team, it can pay both personal and professional dividends!
As HRchitect explains, pre-planning is key to a successful startup. Of course, this is all the more complex when you’re moving at the same time you’re getting your venture off the ground. For your enterprise’s purposes, a formal business plan can help you structure your goals and how to meet them. It will also come in handy if you apply for any loans or grants.
For assistance with finding and purchasing a new home and sorting out details related to your venture, partnering with a professional organizer can make a world of difference. From decluttering to arranging a professional mover to packing and unpacking, turn to a professional you can trust for solutions.
As CNBC explains, you need to create a budget that takes into consideration all of the usual home-buying financial needs, such as down payment, closing costs and fees. You may want to look for a reputable lender with experience in home-based business ventures who can help you find the best loan products available for your situation. If your new home will require any type of retrofitting (like the addition of a separate business entrance), factor anticipated costs into the budgeting process.
Of course, you’ll want to take your family’s needs into consideration when situating both the household and the business in a new location. Give thought to how you will collectively use the property. Consider a home that has a mother-in-law’s quarters or a detached casita that can be used specifically for work purposes. If that’s not possible, look for a layout that can accommodate both work and home – for example, a design where office space is on one side of the house, and communal living space is on the other.
Don’t allow the moving process to derail your business start-up efforts. Create a “go box” that has all of your most critical files, documents and essential materials, and keep it with you, rather than pack it into storage containers. This will ensure you have all relevant business info with you throughout the move. Encourage family members to do the same by packing their own essential items and keeping them at hand. This approach will reduce any “down time” around getting your business up and running.
According to the Hartford Co., working from home can have numerous rewards, including having more family and personal time, and operating on your own schedule. Running a successful business from home requires exceptional time management and organizational skills, as well as a commitment from the rest of the household to draw a firm boundary between work and personal life.
Dedicated office space and equipment can help. For instance, buying modular furniture for your office space gives you the option of changing up your environment as your business grows; a new laptop, desktop, printer, scanner or other office essentials, such as filing cabinets, chairs, lighting and phone systems, can ensure professional operations. You can shop online for the latest offers, discounts and specials to aid in this effort.
There are many upsides to starting a new business and operating it from home. In addition to taking advantage of Internal Revenue Service home office tax deductions, you may also have the ability to set your own work hours, and cultivate a fulfilling work-life balance. There’s also the added benefit of not paying rent for office space, which potentially means you can put more of your income toward housing.
Having all of your personal and professional objectives top-of-mind before getting started will help ensure a smooth and successful venture. And remember to partner with A Clear Path, who can ease you through this challenging process.
