Via LinkedIn : Do you enjoy interacting with a group of people or find yourself bored when working alone? Then a home based business is probably not for you. It takes a person who is committed to being successful in working alone and doesn’t get discouraged when the clients don’t come in as expected to be an excellent home based entrepreneurial. Until you are making enough money to afford a staff; you will be receptionist, bookkeeper, office manager and file clerk combined. However, if these duties don’t deter you; then here are some additional suggestions.
Office Space: You need to have a dedicated space for doing business. If you can; a room that is set apart from any distractions would be idea. I would suggest a backroom so that you are not tempted by what is happening outside. Yes, you need to have a view—but not to the extent that it would distract you from your duties. Make sure that the room has plenty of ventilation and that there is proper lighting. You also need to make sure that it is cool enough in the summer and warm enough during the winter for your activities.
Office Equipment: This would basically depend on what you plan to do but a computer, printer, copier, scanner and Internet access would be great! If you can’t afford a dedicated telephone line then you need to make sure that family and friends know when you are “at work” and when you are free to entertain. I find that relaxing music is conducive to my creativity since I am both an author and graphic/instructional designer. I also have a small portable TV for times when I am “on break or lunch.” It can be distracting; so use discretion when including either.
Product: You want to make sure that what you are doing at home doesn’t require a lot of traffic—especially if you are in a dense residential area where parking is at a premium. Because I am in the graphic designing genre I can discuss requirements with my clients in three ways: in person by appointment, over the telephone or by email. By using email I can send my clients drafts of projects for either their approval or revision. Your top priority is to please your clients so be patient and work with them!
Pricing: Since you want to make money with your home business; make sure that your prices are competitive with what others are charging. You have the advantage of minimizing your overhead since you are working from home and you can claim a portion of your expenses when filing income taxes. If you do your research—you can visit the websites of others to gauge what the “going price” of your services should be. If you have inventory or you have to outsource some of your work; you will need to take this into consideration as well.
Closing Comments: This is just the tip of the iceberg and refers to people who wish to be an entrepreneur. There are other things you will need to consider when deciding whether you are right for a home-based business. You will need to maintain a budget as well as deciding what will be your hours of operation. It’s also a good idea to plan your move from employee to business owner. Make sure you have enough money to pay bills and live comfortably while you begin your conversion. Also, its good to have the support of your family!
I can personally say that there is no greater reward than when you work for yourself and your client gives you the “two thumbs up!”