Dos and Don'ts of starting a home business

By Nicolo Nasol | Friday, 25 August 2017

Because of the grand leaps the Internet has done in recent years, running a homebased business has now become as viable as having an office-based job. Today is the best time to start a homebased business.

Working from home gives you many great advantages. First off, you can finally say goodbye to that dreadful rush-hour traffic you experience at a beginning and end of your workday. Also, there's nothing that can compare with the comfort you feel when you're home.

Many have chosen to start working homebased and running their own businesses because of its many advantages. But some have failed in their endeavours because they have not prepared themselves enough.

What follows here will be the Dos and Don'ts when running a business at home.

The DOs

DO
ESTABLISH A SPECIFIC WORKPLACE AT HOME.

Install yourself where you can do solid hours of work. It can be in your bedroom or kitchen — anywhere as long you have everything you need in order to work.

DO
DESIGN YOUR HOME OFFICE.

That is one of the great things about having a homebased job: you have the freedom to design your own workplace. Make it as comfortable as much as you like. It helps to set a distinction between work and home.

DO
SET YOUR "OFFICE" HOURS.

Though you no longer work at an office, it does not mean you can work without a schedule. You must still have regular working days in order for your business to work. Being time flexible and able to choose your own peak hours is among the advantages of working at home. Doing this also balances your work and home errands.

DO
ESTABLISH YOURSELF ONLINE BY MAKING A WEBSITE.

You need to market yourself and your business so that your target audience reaches you. Boost your social media as well. This can be a challenge, but the payoff is huge. Also, research the ways on how to brand yourself effectively online.

The DON'Ts

DON'T
FORGET TO MAKE PLANS.

A homebased business is still as serious as an office-based job. Having a plan keeps you focused and on track with your goals. You may also check on your taxes and insurance as you may need coincide them with your new business. You are still not exempt from legal obligations.

DON'T
DO IT ALONE.

Even though you're now working for yourself at home, it won't be to your advantage running a business on your own. Don't hesitate to ask for help and make partnerships.

DON'T
SPEND MORE THAN WHAT YOU MAKE.

Keep track of what you're earning and spending, and don't mix your home expenses with your business expenses. Without financial stability, any business won't stand from the ground, let alone survive in the long run. Set your financial goals as early as possible.

DON'T
OVERBOOK ON YOUR TASKS.

Though it's good to have many bookings and work, it won't do any good if you won't be able to cater them effectively. It's tempting because more work means more profit; however, too much work can burn you out and affect your work negatively, causing bad reviews from your customers. So keep your bookings under a manageable level.