Every beginning has its struggles but starting a business from your own home is a fulfilling process. If you don’t know where to start, don’t worry, since this is completely normal. We will guide you through the generic steps you will have to follow to set up your business and start working towards your goals.
1. Getting yourself ready
Before getting started, make sure that you’ve calculated the risks you are willing to take to create a successful home business. Are you starting from nothing? Do you already have something promising? Do you have a backup plan if things don’t go well? Do other people (e.g. family members) might negatively affected by your decisions? Are you willing to give all in to achieve your goals?
There are so many questions that might come in your mind and you should have a good answer for most of them. Starting something requires a lot of effort and you must be sure that you are prepared accordingly.
Of course, you don’t have to worry about everything, but it is your responsibility to carefully evaluate your intentions and how those might positively or negatively affect you or others in the future. Starting a home business at your 20s is a completely different risk story than starting it at your 40s with kids and tons of responsibilities.
2. Setting up your home office
One satisfying experience you will have at the beginning is the setting up of your home office. You will get a great feeling creating your own working space based on your preferences. Putting everything into place your way will help you be more productive.
Starting off with the room, a separate one dedicated to work would be ideal as your office but if there is lack of space, any room in the house will do if it helps you stay isolated while you work.
Choosing a good anatomic chair is the very important first thing you must do for your health since you will spend a lot of time each day sitting on it. A nice steady desk with the appropriate height is also important.
The hardware you will use it’s completely up to you. The most common setup would be the use of a desktop PC or an iMac and a laptop as an alternative computer when you are away from your home. Nowadays, laptops have become far more powerful and completely capable, so a single laptop with a couple of external monitors on your desk should also do the work.
Lighting in your office is very important for your phycology and productivity, too. Make sure that the place is well illuminated with natural light and that you have artificial light with warmer shades available for when working at late hours. Do not underestimate the power and the effect the light can have on your work.
Decorating the space accordingly plays a helpful role to your phycology, so it’s up to you to make the most of it and create an environment where you feel the most energetic and inspired.
Of course, your home office won’t be perfect from day one but since it will be your own, you can improve it as time passes to better fulfill your needs. Don’t forget to always question what might work against you and try to improve it when you have the chance.
Also, not affording to create the perfect office from the beginning does not put you in a disadvantageous position. Start with what you already have, take advantage of what you can, and everything will eventually start improving along with the work you do.
3. Setting up a business
This is the boring step you must execute and unfortunately one you can’t just overlook. Establishing a legal entity for your business is necessary but it is usually easier than you think.
The one thing and only you will have to do (if you don’t want to do it on your own) is to visit an accountant in your country and pay him a fee to help you establish your business. The most common legal entity used for an online home-based business is the Limited Liability Company.
In most countries, the process is usually very straightforward, and it will take a couple of days at most to complete. In some occasions, starting a business can be an online form application away but, in any case, it is better to ask for professional advice first to make sure that everything will proceed as smoothly as possible.
As soon as you have your business ready, be sure that you also have a lawyer in mind just in case you need him. For example, it’s nice to have someone available if you would like legal advice regarding your work or need assistance preparing legal documents for freelancing or a SaaS web application.
4. Start working
The next and final step before the start of your new adventure is the most straightforward one and the one you are prepared for. Get into it and start working with your newly established business, towards your goals.
In the next and final article in this series, we will provide various tips and insights on things that can help you work more efficient and productive from your home office, so stay tuned!