Working from home is a double-edged sword. On the plus side, the most obvious benefit is a lower overhead. The negative side has to do with discipline:
- Can you work well in isolation on a full-time basis? Without the ability to focus on your business instead of the family, TV or other home distractions, the chances of success are greatly reduced.
- Are you a self-starter? Can you maintain an 8 to 5 work schedule?
- Are you well organized? As a small business owner, you have to wear many hats including marketing, accounting, secretary, etc. in a solitary environment. Time management and good organization are a must for survival.
The following are things that can make a home office a successful business location:
- Have a designated space to be used for an office, even if it requires parking your cars outside and converting your garage to an office. Any room in your home can also become an efficient office.
- Get dressed for work. Be prepared to start your day as if you are going into an office full of people.
- Have the right equipment to go along with a comfortable and useable space layout.
- Be proud of your home office.
- Use your home-office as a meeting place instead of using a coffee shop; it gives you more control over the meeting.
Don’t be in a hurry to move out of your home. Many businesses can grow while maintaining a home office as the control center. BizQuack provides an exclusive community that is within your reach. Communications with other members, both in person as outlined in Quackworking (find information in the tutorial), and the member forum can help fill the “isolation gap”. Don’t forget the “Ask the Duck” feature on your dashboard.
Working from a rented location, while more expensive for a startup also has its benefits as well as its downside. The following are the main issues to be carefully examined:
- The lease term and conditions. Each lease and landlord has a different responsibilities language in the written document. Make sure you know what you are responsible for and what the landlord has to take care of.
- The additional cost that do not exist in a home office includes utilities, insurance, janitorial, building and grounds maintenance, parking, etc.
- Make sure you understand your liability in case you have to move your business before the lease is up.
I always recommend using a real estate attorney to review the lease before you sign it.
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