These days, more and more people are starting or running their businesses out of their homes. The benefits are numerous: no commute, lower startup and overhead costs, more flexibility, better work/life balance, and many more. However, running a successful home-based business still requires a relentless commitment to hard work and persistence. And it takes careful planning and preparation too. If you’re thinking about starting a business out of your home, here are a few key tips to keep in mind as you get ready — from hiring business coaches to forming a legal structure to getting equipped for long-term success:
Whether this is your first rodeo or the fifth business you’re trying to get off the ground, working with the right business coaches can make a big difference in getting off to a strong start. For example, a team like The City Mix can help you with every step on this list, as well as consulting, branding, and many other aspects. You might be surprised by how much stress is alleviated when you have experts in your corner as you navigate the complexities and challenges of starting and running a business.
One of the first stages of starting any kind of business is determining what legal structure to use. Start by researching what it takes to form an LLC, as rules and regulations are different in each state (see LLC Illinois as an example). Operating as an LLC will provide you with tax advantages and flexibility while also protecting your assets. Since you must file the Certificate of Formation, it helps to use a formation service, which will end up being more cost-effective than hiring an attorney.
It’s also important to prepare your home for your business. If you have a lot of negative energy circulating through your home, it will likely impact your business. You can create a fresh and vibrant space for your home and work life by cleaning, decluttering, and maintaining overall cleanliness on a daily basis.
Along with keeping a clean home, it’s essential to set yourself up for success by creating a home office. Your office should be a dedicated space that provides separation between your work and home life. If possible, choose a garage, attic, basement, spare bedroom, or any other type of space with physical barriers. This will do wonders for helping you mitigate distractions and concentrate on the task at hand.
Also, make sure you have all of the equipment and tools you need. Get a good desk, an ergonomic office chair, and any electronic equipment necessary for your daily duties (e.g., a computer, a scanner, Wi-Fi connection, etc.). Invest in software tools that can boost your productivity, help you communicate with clients and team members, help you manage money, and so on.
Moreover, it’s essential to have a solid work schedule. Find out what hours you are most productive, factor in the schedules of your family members, and make sure everyone in your household respects your work hours and any other boundaries that you establish. Of course, you must respect your own work hours — be sure to clock out both physically and mentally once your work is done for the day. This will help you to strike a healthy work-life balance and make the most of your time with loved ones.
There are many advantages to starting a home-based business, but it’s essential to come at it with the right approach. Remember to look for business coaches who can help you get off to a solid start, and determine which legal structure makes the most sense for your business needs. Also, maintain a clean home, and equip yourself for long-term success with the right workspace, tools, and schedule. Then you’ll be ready to start coming up with a marketing strategy and building your customer base! Take the first step and schedule a free consultation with The City Mix today! (847) 910-9441
The City Mix is a business coaching and technology software development company with offices in North Aurora, IL and future expansion into Chicago.