02 Jan 3 Actions To Take When Starting a Home-Based Business
If you’ve planned to break away from your daily grind and begin a life of self-employment, you have likely spent time creating a business plan, forming a budget, and hiring either employees or independent contractors who will work as part of your team. There are other loose ends that you may want to tie up before embarking on your new adventure.
Big Texas Home Buyers wants to see you succeed. With that in mind, consider the following tips as you move toward a life of increased responsibility and greater freedom.
1. Form an LLC
Starting a business can be a wonderful endeavor, especially for those who have the drive and creativity to make it work. First, you will want to come up with a unique name and register your business as a limited liability company to take advantage of the many benefits the filing status provides.
When your business operates under an LLC, you may not have to pay as many taxes, you can file for home office tax deductions, and, as the name implies, you will be under limited liability to personally absorb any legal problems that affect your business when it operates under a legal company name. An LLC is a separate legal entity from the individuals who run it.
You can also avoid hefty lawyer fees by filing the LLC paperwork yourself or by using a formation service. If you go the DIY route, be sure to check with your state for LLC guidelines before proceeding. Each state has a different set of rules and regulations regarding LLC formation.
2. Invest in a Home Office
Some individuals who work at home are used to typing on a laptop, but this setup isn’t a great long-term solution for business owners. As The Joint Chiropractic points out, laptops are not designed to be used for eight hours a day; they can create back pain as you slouch to view the screen, and neck pain if you use a kitchen table to hold your computer as you type.
Invest in a proper desk and an ergonomic office chair to help you do your job as productively and comfortably as possible, and adjust your setup to better allow for proper posture. A laptop stand and wireless keyboard can work wonders for your comfort.
If it’s time for a move, especially when you need a house that accommodates your new office, consider either custom building or redesigning your existing space. Home buyers should plan to work with a licensed real estate agent to sell their homes and find a new house that will best suit the needs of a family and a new home-based business.
3. Create a Dedicated Work Schedule
It’s no secret that working for yourself — and at times, by yourself — comes with its own challenges. Spending time alone in a home office, even if you have a virtual team, can be invigorating for some and distracting for others. Consider developing a work schedule that will allow you to organize your time and get things done. Most people, even those who aren’t school-aged, thrive on routine and consistency.
As HR Technologist explains, you don’t need to work from nine to five: Examine your daily habits and identify when you are the most productive. Or, take a look at your daily task breakdowns. If you need to make calls, you may want to do so in the morning while the rest of the working world is awake. If you are a night owl who needs to answer emails that are not time-sensitive, feel free to burn the midnight oil and work late into the night. Developing a schedule will, regardless of your actual work hours, help your productivity.
Setting out on your own can be both exciting and nerve-wracking, and it often means more paperwork and details than you could have imagined. Ensure that your home-based business begins in the most productive way possible by sorting out all the little details first! And if you’d like to sell your current home so you can find a new one that’ll perfectly suit your personal and professional needs, be sure to connect with Big Texas Home Buyers. We pay cash for properties of all kinds, even those that need major home repairs, so contact us today!