Starting a new business out of your home is a great deal in many ways. You save money, save commuting time, and can get down to the nitty gritty much faster than if you had to seek out a location and prepare it to open.
It isn’t all sunshine and roses of course. It is harder to separate work life and home life. It can be difficult to run the business while you feel like you need to be running your home. Often friends and family have a hard time distinguishing between hours you are available and hours you are working as well. These 5 tips may help you get started and stay successful.
Finance from Home
Virtually every piece of the borrowing puzzle can be fit right into place from the comfort of your home. All you need is a computer and maybe a scanner. Increasingly, entrepreneurs are “shopping” for the best financing deals online (just as they would buy books or gifts). Deals can be had, and you will save yourself a lot of time and hassle by financing online. Best of all, you can do it during “off hours” (nights and weekends) after the work day is over and the kids have gone to bed.
Invest in Equipment
Do not try to run your business without the proper equipment. You are already saving money by working from home. At the very least use some of that small business financing you are going to get to purchase what you need to really do well. It may be nothing more than a better printer and a separate computer. It may be a commercial oven to meet code for your new catering business. Equipment financing is available online also, so keep that in mind.
Invest in Space
You already have a location, but do you have space? You may very well be able to run your business from your kitchen table, but you may need to find a separate space in your home. A home office can be helpful for blocking out distractions and signaling to others that you are actually at work. Of course, if it is a completely dedicated office used only for the business, there is a tax right off, also.
Whether you are offering a product or a service, do not bite off more than you can chew. Carry low inventory or only work on preorders to begin with. If services are being offered, be certain not to schedule too much at once until you can see how the work is going to flow. Starting slow is vital to not burning out too fast.
Keep You Day Job
If possible, keep your day job for a bit until the business gains some momentum. Once you see you have the work load to be able to fill the time, put all your time into it. Until then, you may need the income from your current job to float you until the business is profitable.
As for the financing part, Biz2Credit is able to help you every step of the way. Our simple, online process allows you to tap into our extensive network of lenders finding the funds you need quickly and easily. Visit Biz2Credit.com today for more information.