Tips for Relocating to Start a Home Business
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Starting a home-based business is an exciting venture, but there are quite a few things to consider. Do you have enough space in your current home? Are there too many distractions for you to be productive? Will you need more privacy from your personal living space? If you answered ‘yes’ to any of these questions, you may need to consider moving so that your new business has the best chance of success.
Local real estate experts Jane & Richard Noltensmeier understand what an undertaking it can be to both start a business and move at the same time. To help, they’ve provided the following tips to make your transition as smooth as possible.
Develop your idea
The first step to starting a successful home-based business is to decide exactly what kind of business you want it to be. It’s important to decide this early because it will influence all of the following steps you take. Start by looking at your skills, talents, and passions. Once you’ve got an idea in mind, do some research to see if the market can support that type of business. You’ll also need to make sure that it can actually be done from home. For example, if you’re a talented chef, you might consider starting a private catering business with your home as a central office, but it’s less feasible to try to run a restaurant out of your house.
Balance your needs
While it can be great for your new business to relocate to a more appropriate space, you’ll have to balance this with your personal life and the needs of your family. Many different variables need to come together. Once you have a location in mind, ask yourself whether you actually want to live there. For your new space to be a good long-term solution, it will have to tick the boxes of both your business and your family. For example, you won’t have a commute if you’re working from home, but how will the new location affect everyone else in your household?
You’ll also want to consider your home-based work space. The ideal situation would be finding a home with an extra room that you can set up as a dedicated office. This way, you can keep your home and work lives as separate as possible, which will help you stay on task and physically separate you from family members while you’re hard at work. If you don’t have the budget to buy a home with a spare room for an office, you can get creative on how to set up your workspace. For example, you can put a small desk in a corner of the living room and use room partitions for privacy, or even convert a closet into an office.
Because there are many things to consider, working with an expert real estate agent like Jane or Richard Noltensmeier can be a boon as you search for a home that can double as a living and working space. Just be sure to do your homework ahead of time. Make a list of what you, your family, and your business will need to help guide your search for the perfect new space.
Learn to delegate and outsource
Starting a business and moving at the same time can be a lot to juggle at once. Because you’ll be responsible for everything, you’ll need to figure out what to delegate and what to do yourself. Consider hiring a virtual assistant to help with time-consuming tasks, such as administration, data entry, or even bookkeeping. On moving day, hiring a moving company will save you much-needed time and energy. Once you begin to effectively delegate, you’ll be able to focus more on growing your business – while still having time to enjoy your personal life.
One thing you can easily do yourself is to register your new business as an LLC. A limited liability company (LLC) has many advantages, such as low legal risk, flexibility, tax benefits, and less paperwork. Setting up an LLC online yourself will save you the expense of hiring a lawyer. Just be sure to do some research first, as the regulations around forming an LLC vary from state to state.
Although starting a business and moving at the same time can be a challenge, it’s an achievable one. Don’t be afraid to revise your idea and adjust your approach as you go. By balancing the needs of your personal and professional lives, learning to ask for help when you need it, and embracing the entrepreneurial spirit, you’ll be in a great position to turn your dream of a successful home-based business into a reality.
When you’re ready to upsize your home, turn to real estate professionals Jane & Richard Noltensmeier to help you find the perfect property. Call today to get started! 714-932-2403 (Jane) or 714-644-1665 (Richard
