Dorothy in The Wizard of Oz was right when she said, "There's no place like home." Home is a sanctuary, and a place of love and rest, and what better qualities can you expect from a place to come up with smart ideas and prosperity thinking? There is a practical side as well, such as having an office rent free, and within earshot, if not sight, of the kids. SOHO (solo office/home office) figures now total in the millions, as many as 25-40 million--if you include home based offices, telecommuters and those who bring their work home from their regular job, otherwise called "day extenders." However, setting up a home office has not worked out for many. How can you ensure that it works for you?
1. Have a plan. Especially if you are starting a business out of your home, it pays to have a business plan. Just because your business may lack the formal structure of a visible "corporate office" doesn't mean you should be equally informal with your planning for success. In fact, this lack of planning is a significant factor that endangers the survival of home-based businesses. It's not enough to be doing work while you happen to be at home; in running a business, an ongoing enterprise, you need understand exactly how much money you need to earn in order to meet expenses and turn a profit. If you're telecommuting, remember that "out of sight is out of mind" for many people . . . so discuss with your supervisor ways that you can remain visible to the organization - whether through participation in conference calls, regular reporting, or being physically present for certain meetings. Accountability is key. Be sure you and your supervisor have a clear understanding of how your work performance will be evaluated.
2. Check into zoning laws. Local ordinances and zoning laws determine how buildings in specific areas can be used ' some permit mixed live/work uses, while others are for residences only. If your business requires customers to turn up in person, such as running your coaching practice out of your apartment, you have to check that your clients can park nearby. If you are a renter, see what is allowed or disallowed in your lease. Importantly, you may need a business owner's insurance policy to cover any business liabilities, as many homeowner's policies do not provide that kind of protection.
3. Establish a distinct workspace. If you are lucky enough to have a separate room for your office, all the better for getting a home office tax deduction. Having the office in a mixed room ' part dining room, part office, brings up many challenges. My home office is located in my living room, and I have arranged the computer tables, filing cabinets and shelving such that they carve out a separate space. I make sure not to have my clothes spread around my office furniture, or have groceries or food left on the desk. Entrepreneurs, who are also parents of young kids, have to be firm in drawing the line, and make sure that pretty crayon drawings are not found on important business documents. An organized office space is great for clarity of thought.
4. Watch the clock and time gobblers. The beauty of working from home is that your time is truly yours. There's no persnickety boss or nosy colleague looking over your shoulder. But the benefit is also its own burden, as you must become your own taskmaster. Set a work schedule and stick to it. More pernicious are the distractions that crop up during the day that eats away at your time and concentration. A friend calls, needing advice about her non-communicative boyfriend. The doorman buzzes: can you come down for a delivery? Your stomach rumbles . . . what should you make for dinner tonight? There' a dust bunny staring you in the face. And kids have their needs, too, which tend to be on their time schedule, not yours. Be realistic about what you can accomplish each day, but be firm about making the time to accomplish it. To the extent possible, group meetings or errands together so that when you are working from home, you can focus on the project at hand.
5. What do you need? Is the company and feedback from other people essential to fuelling your creativity? If that is so, you need to allocate time to meet with people on a regular basis, or at the very least, have telephone chats with them. If you naturally prefer to stay at home, remember the adage that "people do business with people they like," and they may need to meet you in person to get to like you. Carve out time to network and meet up with your colleagues occasionally. Conducting business online? Make sure your online presence is appealing and interesting.
Copyright (c) 2010 Ask The Business Lawyer
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