By Amy Collett
Are you one of the many people who have made the shift away from the office and into the home? With all the flexibility working from home offers, many have chosen to build a home business. Recent years have seen a surge in startups that, according to research, women and people of color are overwhelmingly responsible for.
The great news is that many who took a chance to pursue their entrepreneurial dreams found success! However, now they face an unexpected consequence: their business has grown too large to sustain within the home. If this sounds like you, here are 3 tips to help adjust and accommodate to meet the needs of your growing home business.
1. Relocate Operations to a More Spacious Base
Often, the best choice is to move into a bigger home that suits all office and storage needs. Start with research using online resources or reach out to your realtor. Refrain from wasting time on properties beyond your budget. Instead, look at the local median sales prices in your neighborhoods of interest so you can begin eliminating anything unfeasible. Additionally, you might study other crucial facts, such as crime rate, distance from important locations, and square footage.
If possible, attend open houses (virtual or in-person) or obtain the floor plans to see if there is truly enough space. Keep an eye out for red flags – including short periods of inhabitance, nearby houses also sporting “for sale” signs, or a peculiar odor – to avoid getting stuck with a less-than-desirable house.
2. Create an Environment Conducive for Productivity
As a business owner, you need space that is designated solely for work. One piece of advice most experts extend to freelancers and others working from home is to have a set workspace. Doing so can help you establish a work mindset. Did you know your surroundings can influence how you view your activities as well as your productivity? A room that is only used as a home office establishes boundaries with the rest of the household. In addidtion, it provides escape from excess noise and eliminates distractions. As a bonus, you may be eligible for a tax break for home office-related expenses.
Make sure your office is well-lit, preferably with a lot of natural lighting. This can increase engagement, save money on utility bills, reduce the negative health effects of artificial lighting, and impart other benefits. Try using a standing desk, either adjustable or tabletop. Sitting for extended periods can be harmful and negatively impact your work. If this doesn’t appeal to you, invest in a comfortable chair or an exercise ball.
Clear one wall of any embarrassing or unprofessional clutter and position your workstation so your screen faces it for any virtual meetings. Place all necessary tools where you can easily reach them. Paint the walls a color that is visually appealing or soothing to your personal senses.
3. Make Necessary Legal Changes
Form a limited liability company to reap advantages such as tax benefits, less paperwork, and limited liability. Doing so can offer your business more flexibility. You don’t have to shell out for an expensive lawyer; you can utilize an online formation service or file yourself. However, before doing anything, check your state laws, as LLC formation regulations are not standard across the U.S.
Your workspace organization — the square footage, appearance, location, and contents — is vital when running a business. As a home entrepreneur, you need to keep up with and accommodate business growth in order to ensure continued success. So do your research, and upsize/organize your home as needed!
Ready to buy your upsized home to accommodate both your business and personal life? Contact Crane Realty online or by calling 585-536-0755 today!