Legal : The Inside Track to Making Your Home Office A Success
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By: Nina Kaufman
Date Submitted: 2010-02-20 18:02:14 - Article Views: 40
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Copyright (c) 2010 Ask The Business LawyerDorothy was absolutely right in The Wizard of Oz when she uttered, "There's no place like home." Home is a place of rest, protection, love and security. What better environment can you ask for to create smart ideas for prosperity? Additionally, there are the practicalities of not having to pay rent for office space, and to be (where applicable) close to the kids. Millions of people have set up SOHO (solo office/home office); including telecommuters, home based offices and those who bring home work from their day job or "day extenders", the numbers come up to 25-40 million. Yet, many have not succeeded in working out of home. What can you do to ensure you are a success?1. Have a plan. Especially if you are starting a business out of your home, it pays to have a business plan. Just because your business may lack the formal structure of a visible "corporate office" doesn't mean you should be equally informal with your planning for success. In fact, this lack of planning is a significant factor that endangers the survival of home-based businesses. It's not enough to be doing work while you happen to be at home; in running a business, an ongoing enterprise, you need understand exactly how much money you need to earn in order to meet expenses and turn a profit. If you're telecommuting, remember that "out of sight is out of mind" for many people . . . so discuss with your supervisor ways that you can remain visible to the organization - whether through participation in conference calls, regular reporting, or being physically present for certain meetings. Accountability is key. Be sure you and your supervisor have a clear understanding of how your work performance will be evaluated.2. Find out about zoning regulations. Zoning regulations and local ordinances specify the uses for buildings in a specific area. Some areas are residential only, others are strictly for commercial buildings, and some allow mixed-use spaces. You may encounter problems, for example, if high foot traffic to your business creates congestion on your neighborhood streets. If you are renting your space, check your lease to see if your specific business activity is permitted. It is also important to make sure you have adequate insurance coverage. If your homeowner's insurance policy does not extend any coverage to your business, you may want to get a policy for business owners to avoid being at risk for business liabilities.3. Maximize efficiency in your surroundings. It is much easier if you set up your home office in a separate room (it is also easier to support a tax deduction for the home office.) A mixed-use room, such as part bedroom, and part home office, creates challenges ' both for tax purposes and work efficiency. My home office is in my living room, and I rearranged the computer tables and my furniture to create a distinct space. I keep separate phone and fax/modem lines for the office, and allocate a separate place for personal papers. I frown on my husband's draped his clothes on the office chair, or leaving food on the desk. For entrepreneurs with young kids, parents have to establish firm boundaries so that peanut butter and jelly sandwiches don't stain important client papers. A well-organized workspace greatly promotes clear thinking.4. Maintain awareness of time and time wasters. It is easy to get off schedule when you work from home. After all, your time is your own and no one is checking in on you. To not fritter time away with distractions that crop up during the day, plan out your workday and make sure you stick to it. During the day, friends calling or worrying about errands that need to be run can distract you. Set realistic, achievable goals for each day. In the interest of time, plan to schedule meetings when you are out, or run all your errands in the same outing, so you do not have to pop in and out of your house. Therefore when you are at home, you can fully focus on your work.5. What do you need? Is the company and feedback from other people essential to fuelling your creativity? If that is so, you need to allocate time to meet with people on a regular basis, or at the very least, have telephone chats with them. If you naturally prefer to stay at home, remember the adage that "people do business with people they like," and they may need to meet you in person to get to like you. Carve out time to network and meet up with your colleagues occasionally. Conducting business online? Make sure your online presence is appealing and interesting. |
Author Resource Required for Reprint:
Fed up with crazy legal issues in your small business? Check out Nina Kaufman, Esq.'s user-friendly business law resources at GreatBusinessLawResources.com. She cuts through legal gibberish to save you time, money, and aggravation. She also writes and blogs for Entrepreneur Magazine online. Get your free copy of her Entrepreneurs Business Law Primer today!
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