How to start your
Home Based Business?
Many women entrepreneurs start their enterprises as a home based business, either because they want to work from the comfort of their houses, or just to allow the cash flow to grow, before getting an office.
Even though, two out of three companies of all sizes (Apple Computer included) begin in a spare bedroom (or bathroom perhaps), especially when the internet makes operating start an online business from home so feasible and easy.
There are few things you should consider before starting your home based business, and here is a list of them: - Check your local zoning ordinances and you CC&Rs (if this applies to your case) for possible restrictions on your ability to make your home, your office.
It will depend also, on what type of business you will be conducting at home. For example, if you run a store versus just having to manage your website, this is a very important consideration for you.
While many people ignore zoning, a complaining neighbor can put a real bend in your business plan, as you may find yourself with an order to shut your business down, and have to suddenly move or close down. So, find out what you are allowed to do, and get along with your neighbors. With their support you might be able to get a variance or conditional-use permit, which is a waiver of restrictions for zoning issues.
For more things to consider read our Top 10 tips for a profitable home based business
- Having an entrepreneur home business, can also give you a break on your income taxes. Here are some of the items you may be able to deduct. (Please consult your CPA or accountant before making any deductions and to verify these apply to you):
- A percentage of your rent if you lease or rent; or of your home loan interest if you have a mortgage.
- Cleaning costs for your home office, both labor and supplies.
- A portion of your real estate taxes and interest cost, before payroll taxes are calculated.
- Some depreciation for the office part of your home.
- Utility costs and trash collection fees you can attribute to your home office.
- Maintenance and repair of your home office, including painting.
- Household furniture you covered or purchased for use in your home based business. Consider converting existing furniture and equipment, such as desks and computers, in your household to use for business purposes. Normally, you can depreciate them at their current value, saving your tax dollars.
- Once you have check on all the nuts and bolts of starting your home based business, in order to make your entrepreneur home business a success, you will need the same elements and steps of any small business. Check out our small business section for tips, information and advice; or click to access any of the following specific areas:
- You also are going to have to handle the hassles of working from home, and if you are a mompreneur you have even more adjusting to do.
If you do care for your children while working, you can’t expect to be 100 percent efficient, so you may want to consider other options; like day-care services, getting help from relatives, hiring a nanny or setting up a cooperative day-care arrangement.
As a mom of young children, I know this is not an easy thing to swallow, but I also know that you can’t be effective when a screaming child is pulling your leg, begging for attention, while you are trying to come up with a brilliant idea. So, if you are serious about your home based business, and if you are still reading at this point you probably are, please do consider some of these options.
How do you dress is another big thing to consider. I know for some people the thought of being able to work on their pj’s is appealing by itself, but think about this for a second; Haven’t occurred to you that how you dress affects how you feel, and this will be reflected on your home based business? Curiously, a recent survey found most people who work at home take daily showers or baths and don’t wear their pj’s all day long.
- But what about meeting clients? Well, if your nature of business requires for you to meet with clients, you can either meet them at their location or a neutral spot like restaurants, coffee shops; or you can do video conferencing meetings.
- Finally, whether you only use your home as a launching pad for a larger business or home is your final destination, once you have gotten your home office set up, your home can be satisfying base of operations. You are ready to work like any business!
So, are you ready to start your home based business? If not, what is holding you back? Wouldn't be great to be able to take action and create a profitable home based business?
I'm dedicated to empower women just like you. Women entrepreneurs who want to start their businesses, but also Women entrepreneurs that want to grow their existing businesses. Through my coaching you too can achieve your personal goals, create a profitable home based business and become a successful entrepreneur. Not sure about coaching yet? Try our
FREE Discovery Coaching Session
and find out if coaching is for you! "ideas not coupled with action never become bigger than the brain cells they occupied" - Arnold Glascow.
Carmen Shearer
Founder and CEO
Entrepreneur Women Coaching and Training, LLC
(800) 980-3928
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