A home office is a place any woman in business and leadership needs to plan in order to make it a real help for her home based business. This is something you will want to do during the business planning stages for your operations. Setting up an office in your home is obviously a great idea but making it work for you means knowing what to expect. These 7 top tips will help you to create the perfect home office for your business.
1. Set up your home office for your particular type of work. Consider if you will see clients at home or just do work there without allowing client visits. Will you have employees or work as alone from home? These considerations help you to know the type of physical space you need as well as possible equipment needs.
2. Create order and process in your home based office to be sure you reach your daily business goals. Make sure to have a plan for your work each day. You want to know exactly what you will do each day in order to stay on track. Set up your schedule along with to-do lists each evening and get started quickly each morning by reviewing this pre-established lists.
3. Understand that working from home may not give you the professional exposure you enjoy when working from a professional office. Be ready to change your perspective about getting up and going out to meet with clients or network with others professionals. It might be more difficult to leave your comfortable home to do business than it was to leave your office setting.
4. Having a home office may not be easy to establish at first. Remember, you have to have the proper equipment. If you don’t already have what you need, it could mean incurring upfront expenses to purchase the right computer with a backup system, fax, telephone lines, printers and other necessary equipment. Make a checklist of what you will need so you can budget accordingly.
5. Can you afford the necessary insurances that will replace what you would have by working from home instead of for a company? For instance, health insurance is usually a large expense covered by an employer. Look for independent business insurance that will cover you and those you are responsible for. Review your home owner’s policies to determine what liabilities are covered. Check into errors and omissions insurance if you are doing any type of consulting work. Look into other risks with your business insurance agent.
6. Legal aspects of doing work from home can also bring new considerations. You will need to establish your own contracts and have these reviewed by an attorney. Carefully consider your legal structure to determine if you need to incorporate and if so, know the type of corporation to set up. If your business involves writing or producing certain items you might need to understand about copyright laws or trademarks. Get this advice from your business attorney.
7. Taxes are a consideration for the home based business as setting up a home office means you will be able to write off certain portions of the expenses incurred in your home for your business. Check with your accountant or tax adviser to set up your bookkeeping system as soon as you start your business so you will be able to track the expenses that provide you with tax advantages.
Working from a home office is an option that is growing in popularity for many types of professional businesses that are conducted from the home. Women in business often choose to have a home based business that requires a home office. Start in the early business planning phases to understand your advantages in operating a home office as well as the other considerations you might need to know about for your protection and advantage.