Nearly 70 percent of entrepreneurs in the United States start their businesses from home, according to Small Business Trends. This eliminates the extra overhead of getting an office, paying another phone bill and traveling to and from work. If you are thinking about starting a business from the comfort of your house, here are some things to keep in mind.
Establish a Work Area
Create an area in your house, preferably with some privacy, where you can focus on your work. This can be a spare bedroom, den or anywhere you can eliminate distractions. Avoid setting up in your kitchen or anywhere there’s a lot of foot traffic.
Set Business Hours
While working at home gives you flexibility, you need to have set hours of operation. That way your clients know when to call you. You also want to designate hours when your clients are working so you can better service them. Moreover — and this is crucial — apprise your family of your business hours. Let them know you’re not to be interrupted during those time parameters, unless you take a break.
Create an Agenda
Comprise of list of things you need to do so you can complete projects on time. A simple day planner will do, but you should also list important dates and meetings on your smartphone calendar so you don’t meet any meetings or deadlines. Keep yourself accountable and organized when starting your business from home.
Develop Bookkeeping System
Keep track of all your revenue and expenses. Excel works well for this purpose. You also need to keep receipts in case you’re too busy to record certain transactions on a particular day.
Open Bank Account
Open a business bank account to avoid mixing your business and home expenses.
Comply With Licensing Requirements
In most cases, you’ll at least need to register you business name with you local county or city administration office. This is known as your DBA or “Doing Business As.” You may also need certain licenses. If you sell products online, you’ll need a sales tax permit, so you can report your sales taxes. You should also check with your administrative office to determine if there are any zoning laws associated with your type of business.
There are many different aspects to consider when starting a business from your house. If you are truly passionate about the business idea, these guidelines should be able to help you start getting your business off the ground.