September 07, 2010
Challenges Facing Home-Based Business

So you’re a home-based business; a homepreneur; a basement operation or just working from home. You’ve joined the growing trend of thousands who venture into business (more specifically) home-based business each year.

This is my first article about the challenges facing home-based business today. I will try to cover in subsequent articles, as many of the significant issues that I have encountered having setup three home-based businesses, in three locations since 1984.

Many things have changed since 1984, other than the price of real estate. Possibly one of the most significant is attitude. In 1984 working in a business setup in your home wasn’t considered professional. In order to grow, to build your business, it was necessary to work with the grownups in commercial office space.

Then everything changed. The fax machine and the personal computer started the trend we are experiencing today. Although the fax machine is still used daily by many businesses, including my own, the Internet and email are fast becoming the preferred method of communications with business of any size, anywhere.

The attitude has changed. Professionals of all shapes and sizes are gaining worldwide recognition working from home. Doing business in far off parts of the world is a reality. The stigma, the barrier, the attitude, all has changed and the home-based business has come out on top.

With unique skill sets we venture into business. What about the special marketing efforts working from home requires? How are you going to attract customers?

Have you considered distractions? What distractions? Well, like the dog barking at the mailman while you are talking to a prospective client on the telephone. Kids who don’t quite understand the concept, and barge in on a meeting can make even the most patient among us think of office space of the commercial variety.

Most of us who start home-based businesses don’t have accounting backgrounds. So what about it? I have some extra shoeboxes you can borrow until you figure out some sort of system. Filing and paperwork-YUK! I didn’t go into business to be a number cruncher or a file clerk.

Invoices, invoices, don’t you just love invoices? Well, it’s the best kind of paperwork, in my opinion. Keeping track of stuff, and being able to find stuff, is a major thing in small business. Some of us do it better than others.

Ergonomics, sounds like something you have to study for. Well, for those just beginning the adventure it has a lot to do with being comfortable in your work environment.

Doing the same thing for long periods of time, such as sitting at your computer, can be very tiring and cause strain and pain if the keyboard is too high or too low. So get comfy, be healthier and more efficient. There are lots of things to consider in this area.

The Internet, the mysterious Internet, what is this thing that everyone talks about, with connections to everyone, everywhere? How do I get connected, do I need to be connected, will the Internet benefit my business, will it help me sell more products or services? These are many of the typical questions being asked today by small business owners.

They are all very reasonable questions, and the answers are as unique as your business. Understanding the basics of the technology and what it may be able to provide for you, is the first step. There are many Internet providers ready to help you become informed.

Coming from an advertising background one of our favourite expressions is “location, location, location” as it relates to a business. Well, in most cases your home-based business can be where your home is.

There are exceptions where bylaws may not allow certain types of business in your area. This is, of course, another thing to consider when setting up your business. Talk to your local Municipal Office, or City Hall. Is registration required? What restrictions might apply?

Have you thought about insurance? What if someone steals your equipment? Will your homeowner’s policy cover it? What if one of your clients is injured on your premises? And now that you are working for yourself, there is medical, dental and disability insurance to think about.

I hope I have provided some food for thought, and that you will watch for more articles in this space detailing some of the questions and maybe even providing some creative solutions to the everyday concerns of your home-based business.


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