Whether you are starting your own business as a hobby or as a full time job, there are many considerations to take into account before choosing this type of lifestyle. One of those considerations is to understand what is going to be required for you to successfully use your home as a place of business.
If you are going to be running an internet based business such as those involved in Affiliate Marketing or Blogging, then you will experience cost savings due to less overhead. Examples of overhead might be inventory for companies that sell products online, whether a coffee website or cell phone accessories.
Internet based business owners still have their own unique set of challenges. Here are some tips for addressing those challenges:
We’ve all heard the phrase “Don’t quit your day job” – it certainly rings true for anyone contemplating a work at home lifestyle. Deciding to work at home is an incredible opportunity; however there are still financial considerations to be taken into account. As a result, it is best to take into account any and all expenses before cleaning off your office desk and turning in your resignation.
If you don’t already have a good savings or cushion to float you for a good number of months then you will want to start saving early. One of your biggest expenses will be your rent or mortgage; other expenses are basic utilities such as food, water, electric, phone, internet, etc. Tally them up and then you can calculate your estimated fixed monthly expenses.
What about non fixed expenses? Will you need to purchase one off items such as printers, paper, ink, desk, file storage space, pens, pencils, etc.? If so, add these expenses into the first month’s expenses.
If you are not able to cover your own expenses right from the beginning, then the timing is not right to go full time – but that doesn’t mean you have to give up on your plans. Instead, figure out how much you can save on the side, and start building a foundation for your home business while working in your free time.
With the right timing and planning, you might end up with a recipe for success.
Ways to Save
Learning to make more money also means learning to cut back on expenses. One example is your phone bill. If you are working from home and fewer commuting, or driving around as much, consider switching to a lower priced cell phone plan with few minutes or features. Use the internet to make your calls, using technology such as Skype or other similar solutions such as Google Talk.
If you arean employee who is given the opportunity to telecommute with your company, they might already have a phone system in place which is IP based and able to add extensions pointing to your phone regardless of where you are at, thus taking up the expense themselves as all they will need is an internet connection.
If you have a home business in which you need a dedicated phone line, consider companies that specialize in VoIP (voice over IP) for small businesses. These companies can provide you what is called hosted PBX, which means the only thing you need is a phone handset and an internet connection. You are generally given such functionality as voice mail, options to add extensions, multiple greetings for on and off work hours – in other words, features that professional larger businesses use. The main difference between VoIP companies and a service like SKYPE is not only the additional features but also voice quality which is better with VoIP due to the type of protocols used for sending and receiving voice packets.
Find Your Own Space
There is an advantage to working in an actual office – you have your own space. Besides the occasional pen stealer, in an office your co-workers do not come and move items around on your desk, or shuffle through your strategically placed files and piles of paper. Your work space at home should be treated the same as when you worked within the office. This is your office and those around you whether your spouse, kids, or roommates should show you the same respect as your co-workers.
Working from home is a wonderful experience in theory, but when it comes to bring successful it’s important to have the right tools and environment in place from the beginning.
Author Bio:- Liz Krause is an avid proponent of working from home, but only in a productive environment. She currently writes for a sip trunk provider which specializes in phone service for businesses and makes it easier for employees to telecommute using services such as Microsoft Lync SIP service or other provider.