Running a business from home might seem easy, but there are some pitfalls that can catch out even the most experienced people. Avoiding these mistakes could save you a lot of time and money.
1. Not setting a boundary between home and work
Without physically going to work, it can be easy for working hours to seep into home life and vice versa. Working at a shared kitchen table can make it hard to create mental boundaries, so setting up a dedicated corner as a work area, and even fixing your working hours, is a good idea.
2. Underestimating tax and legal issues
Just because you are working at home doesn’t change anything with your business registration, what expenses you can claim, or your mortgage or tenancy agreement. Sorting this out at the beginning avoids an awkward situation with your landlord or lender later, and unpleasant surprises when tax time comes.
3. Not buying enough equipment
A cheap chair and a laptop balanced on a kitchen stool can seem fine for now, but productivity really suffers when working conditions aren’t good, and your health can suffer too. A properly adjusted chair and desk, along with adequate lighting, isn’t a luxury — it’s a basic requirement to get through a working day.
4. Not considering the reliability of the internet and phone
A home broadband connection that copes fine with evening streaming can struggle under video calls, large file transfers and cloud tools running throughout the working day. A mobile data connection is a great backup to avoid losing critical business moments to a dropped signal.
5. Wanting to do everything yourself
Many people starting a home business try to handle every task personally, from bookkeeping to marketing to admin. Outsourcing even a few well-defined tasks early on frees up time for the parts of the business only you can do.
Getting the basics right pays off
These fixes may not be difficult or expensive, but they’re easy to overlook with everything else involved in getting a business going. Thoughtful home office design, organised paperwork, and a realistic assessment of what you can and can’t handle alone make a huge difference to how well a home business does. If you’d like advice on setting up a home office or business, get in touch for more information.