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Make the Transition to a Home-Based Business
Evolving into an Entrepreneur
By identifying and avoiding potential stumbling blocks, an individual can make a smooth transition into being a home-based business owner. To do this, one must consider the specific needs of the business, the needs of those that their plans will potentially affect, and their own personal needs.
The questions that you should seek to answer in relation to your company's needs include, but are not limited to, the following:
Do local zoning laws allow my business to be operated from my home? It is far better to know this first than to expend a tremendous amount of time and energy only to discover that your business is not allowed in your neighborhood.
Are there special permits that I must obtain and/or fees that I must pay? If so, when and how do I take care of these details?
Am I regulated by specific hours-of-operation guidelines, parking restrictions, access for the disabled requirements, etc? If so, how will such regulations affect my overall business? Will I be able to comply with all of the rules?
When contemplating what people will be affected by your home business and how they will be impacted, take into consideration the following topics:
How will my family be affected? Do they support my decision to work from home? Will they understand the boundaries that will be established between my work environment and our home life? Will they be able to abide by such guidelines? What can I do to help my family through this potential change in their lifestyle?
How will my friends be affected? Will they too abide by such guidelines? How can I incorporate my friends into my new way of life?
How will my neighbors be affected? Will my business disturb them in any manner - increased noise, increased traffic, visual impacts, pollution, etc? If so, what can I do, if anything, to minimize such effects?
Do not leave yourself out of the equation when determining how to keep your business in balance to ensure a smooth transition. You, more than anyone, will be affected the most by this life-altering decision. Consider the following issues:
How will I make the transition from my current job to my new business? Will I simply work part-time at my business until I can afford to cease working elsewhere? Do I have enough financial reserves to be able to quit my other job(s) before I open my new business? If not, what is the benchmark that I must reach before I can do so?
What guidelines do I need to establish to keep myself focused on work during business hours? What guidelines do I need to establish to keep myself focused on my family, friends, and even myself outside of business hours?
What support network do I need in place prior to beginning this business venture? Will I be more productive during the day and sleep better at night if I have certain people on my "team"... a lawyer, an accountant, business associates, bank contacts, a personal coach, etc?
However you approach the creation and eventual opening of your home-based business, be thorough in the planning stage that focuses on making a transition from the life that you now have, into the one that you dream about pursuing. Be flexible with the transition plan that you formulate, as new areas of concern might arise and/or be identified.
Keep an open dialogue with your family, friends, neighbors, co-workers, etc. Allow them to discuss their concerns/issues and provide input, as you deem necessary. Ultimately, you might find yourself in the position of needing to make an "unpopular" decision in the best interest of your business. Be firm, but be reasonable in your expectations and the limitations that you set.
With forethought, you can travel the road that leads from being an employee to being a home-based business owner without hitting any speed bumps or becoming lost along the way. It can actually be a smooth ride if you are willing to obey the law and if you are kind to those that you meet along the way. We hope that you enjoy the journey…
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Good luck finding the perfect home business opportunity!
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PS - We'd like to hear from you!
Got a suggestion for a story, article, or hot trend? Do you have questions about buying a home business, or about this website? Let us know.
john@homebased411.com
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