Hello everyone! Home businesses are becoming more common these days. This week, I welcome back guest blogger June Duncan, who wrote this article for the Cleveland Appraisal Blog. I hope you enjoy her great tips on moving and starting a home business!
Part of running a home business successfully depends on having a home that works well for your lifestyle and your business. If your home simply isn’t big enough or is unsuitable in some other way, you, and your company both will suffer for it. There are several options available to you, in this case, one of which might be shopping around for a new home that is more appropriate for your needs. While this may seem like a lot of extra work, having a home that has all the space and amenities you need will make it easier for you to run a successful business while also enjoying your personal and family time.
Finding the right home.
When you start looking around for a new home, you may be uncertain where to start, or overwhelmed with the options. So, start by getting your home appraised so you know how much you can reasonably expect for it. Then set a buying budget and make some stipulations regarding what you absolutely need in your new residence. Clarify what kind of location you need, whether this is specific to a neighborhood, or just generally in terms of proximity to services and amenities. Decide what you are looking for in your new home, how much space you will want, what renovations you are willing to make, needs relating to your business activities, and more. For instance, access to good parking may be necessary if you will have clients coming in and out. Or maybe you’re starting an eCommerce business and need extra space for storage. And you’ll want to think about things like access to high-speed internet, and proximity to other businesses.
How to keep your move smooth and low stress.
Moving to a new home while simultaneously starting a business is no one’s ideal plan, but you can still make it work if you stay organized and plan well. Use a scheduling or calendar app to keep all your tasks, whether moving-related or business-related, right-on schedule – and to remind you of what’s next on your list. If you start planning your move several months in advance this should give you ample time for hiring movers, sorting through your belongings, packing things up, and taking care of business like changing your address or planning utility shut-off. Similarly, be methodical about your launch and do things one step at a time.
Steps to launching a home-based business.
What goes into launching a business, then? Your first step should be to write up a plan for your business that will help guide you as you figure out things like finances, marketing, and administrative tasks. Next, using your business plan, draw up a budget and see whether you’ll need to finance your home business with a loan or grant. When you have the money and are ready to go, it’s time to choose a business structure and register your company as a legal entity, register with the IRS, purchase business insurance, and start a business banking account. If you need to purchase inventory or supplies, do so after your business is legal. After that, put together your website and your marketing plan, and you should be ready to launch.
What if you feel you need more business skills?
If you are thinking that running a business is more complicated or more work than you’d envisioned, but you are still committed you may just need to take time to gain a few extra skills in business-related areas or get better educated about the business itself. Going back to school and pursuing an MBA can be a great choice for ambitious entrepreneurs, especially since the option to enroll in an online school means you can set your own schedule without jeopardizing your existing work or family life, and while settling into a new home. And furthering your education in business can help you grow your skills in leadership, management, finance, and other business-related areas.
If you’re probably going to end up having to move to accommodate your business anyway, it’s probably best to do so sooner rather than later. The longer you wait and the more your business grows, the harder it may be to make the transition.
Thank you June, for sharing some great tips with us when it comes to setting up a home business!
And thank you for continuing to read articles on my blog! I am working on more articles of my own that will be out soon.
If you’re a “Trekkie” like I am, or even if you’re not, enjoy taking a trip thru time, listening to the evolution of Star Trek theme music over the decades.
Have a great weekend!
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Here are some links to other articles I’ve enjoyed recently! I hope you will also…
It’s Still February And Rents Are Rising And The Sky Isn’t Falling – Housing Notes by Jonathan Miller
The anatomy of doom & gloom real estate articles – Sacramento Appraisal Blog
Big Trends Impacting 2022 Real Estate – Top of Mind with Mike Simonsen Podcast
February Newsletter – Hay, Cold & Valentines – DW Slater Company Blog
Understanding The Appraisal Part 1: What is “Adjusted sale price of comparables”? – Birmingham Appraisal Blog
Fannie Wants Desktop Appraisals – APPRAISAL TODAY
Foundation Nightmare – I Hate Real Estate Podcast
For my readers in the CLE area… here are some articles related to news in our local area. I hope you enjoy these also…
Orchids Forever: Botanical Garden’s annual show triggers spring fever in Cleveland – Dana Shugrue and Bob Perkoski of Fresh Water Cleveland
Who’s Hiring in the CLE: Ohio City Bike, Metroparks, Canalway Partners, and more – Evan Gallagher of Fresh Water Cleveland
Cool beans: Cafilia keeps it local by serving up coffee subscriptions – Karin Connelly Rice of Fresh Water Cleveland