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Entrepreneurship: No Commute Required

Home-based businesses are more popular than ever, but that doesn’t mean it’s always easy to get set up and running. Thankfully, there are many resources available online that can help you start a business today, all from the comfort of home. Today, Michelle Thomas of Premier Sotheby’s International Realty shares tips for hopeful homebuyers that plan to go into business for themselves.

Determine the legality of running a home business.

Not all municipalities allow home businesses that might interfere with traffic or noise. Confirm that you can legally run your type of business from a residential area. Keep in mind, further, that you’ll be required to maintain business tax receipts, which the City of Naples explains is required for anyone in business within city limits.

Hire specialists for areas outside of your expertise.

You may be an expert in your field, but there are plenty of other people out there that can help you elevate your business and take it to the next level (even if that level is just your first step). Consider partnering with a recruitment firm that can connect you with someone in technology, design, or another field that you’re not fully familiar with. There are alternatives to a traditional recruiting agency that can help you source top talent from all over, even outside of the US.

Set up the perfect home office.

Your home office may not be an office at all, and you should figure out what you need before you choose a spot in your home to set up shop. For example, if your business involves crafting and computer work, you might want an executive desk. If you need multiple monitors, consider an L-shaped option. Your workspace might also be in an attached or detached garage or in the attic.

Tell your realtor your plans.

If you’re buying a new home with the express intent of starting a business, make sure that your realtor knows your plans. This way, they can clue you into any potential barriers or issues that might prevent your success. When you partner with Michelle Thomas, you’ll not only have access to her expertise but also advanced search functions that can help you choose the perfect place to call home (and work!).

Consider forming an LLC or corporation.

An LLC is usually a smaller company with just a handful of owners, which are called members. If you plan to scale your business and take on employees or investors, Forbes Advisor suggests opting for a corporate structure.

Utilize social media marketing.

Social media is an important part of all small businesses marketing efforts. Even if you don’t have social media or design experience, you should easily be able to find a banner template that you can personalize for your business with text, colors, fonts, logos, and even animations that help raise awareness and grab attention. If you do utilize social media, make sure to post often and interact with consumers that comment on your content.

Pace yourself amid growth.

The first few years in business are the hardest, but it’s also when you have the opportunity to go from nothing to a thriving company. Proceed with caution, and make sure that you put processes and procedures into place that allow you to grow sustainably. Growing too quickly may leave you spread thin and struggling to handle your current customers. No matter how fast you grow, make sure you keep your employees and clients happy but be prepared for disruptions that might make you question your decisions.

Starting a home business is an exciting time, but it’s also a great deal of work. Fortunately, you don’t have to do it all on your own, and you can outsource things like design and technology to the pros without lifting a finger. But, once you get started, you’ll be the leader of your own destiny, and you want to keep a close eye on marketing, growth, and other business tasks so that you can drive straight toward success.

Article provided by Suzie Wilson;

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