Running a business from home sounds like the perfect way of life, working on your own terms, on your own time and paying little for your office space and of course, not having to pay for transport. This form of business, or way of life may seem attractive to many but the hard truth is that not everyone has what it takes to run a business from home, the change in lifestyle added to the pressures of running a business can prove too much for some. If running a business from home is something that you’re interested in then here are some questions that you need to ask yourself beforehand.
Is the House Ready?
Regardless of the business it is that you are looking to set up, you are going to need to prepare your house for it. As a minimum you will need office space, fully equipped with computer, printer, scanner if required and of course, the internet or a home phone. If you are planning to run your business from home then you are going to need a space to do so, remember that you will be spending your days there and the last thing you want is to be working and relaxing in the same space.
Can You Live Without Socializing?
Regardless of how many people you talk to daily on the phone or via email in your new position, you will be foregoing much of the socializing that takes place at work. Daily chats about last night’s activities, conversations over coffee at lunchtime will all disappear and you need to be comfortable enough on your own to live without these social interactions.
Can You See Success?
Running a home business is an attractive way of life but you should only choose this path if you have full confidence in your business plan or your ideas. Many people jump the gun and quit their job for a work-from-home life before they are making any money, this can lead to a very short-lived business. It is important that you start your business whilst still in employment to minimize pressure and risk.
Is Your Home Life Quiet?
To run a business from home you will need a quiet home life, children running around, construction projects or noisy neighbors will only prevent you from working to the highest level. To start a business from home you need somewhere quiet to get your head down and work, having a meeting on Skype with a client could turn out to be very embarrassing if you have kids popping their heads in the door every 5 minutes.
Do You Have the Funds in Place?
As with any business you are going to need to ensure that you have sufficient money to launch your business, including emergency cash for any unforeseen problems. Insufficient funding is one of the key reasons why start-ups fail and even though you’ll be saving money by working from home, it is crucial that you have a watertight financial plan.
Will it be Professional?
Just because you are working from home is no excuse not to keep your business expertly professional, logos, conduct, service and functionality should be exactly the same as if you had a 50 storey building for your office. The key is really not to let your clients know that it is a home business, this can often mean they trust your business less. You need to ask yourself whether you can still ensure a professional service for your clients, even if it is from a home business.