8 essentials entrepreneurs need to successfully run a home-based business
As a home-based business owner, you get to enjoy the perks of running your business in your pajamas and the only “roadblock” you experience is stepping over your dog, who decided to sleep at the foot of the stairs.
Being able to work from home is a dream come true for lots of people. In fact, in the US, 69% of people run a home-based business and in the UK, 84% of small business owners operate from home. Even though those numbers are quite overwhelming, the thing that people fail to realize is that, just because you’re working from home, doesn’t mean that you get to slack off. Your workload and work ethic should remain the same… the only change is your office location.
In knowing that, you want to make sure you’re setting yourself up for success. Here are the eight essentials you’ll need to successfully run your home-based business.
The 8 Essentials
1. Designated Office Space
When working from home, you have the freedom to work from wherever you want to work. That means you can work from in the bed or on the couch. Although you have the freedom to work from those areas, you’ll find out just how quickly your productivity level will drop.
That reason alone is why it’s so important to have a designated office space. This is not only going to help you focus but it’s going to instill a certain level of discipline and responsibility that you had when you were going into the office. By having a designated place to go to, you’re more likely to be more productive than you would be sitting in bed or on the couch. Just make sure your office space is away from distractions and high-traffic areas in your home.
2. Comfortable Desk and Chair
Your desk and chair are going to be where the majority of your day will be spent so if nothing at all, you want to at least make sure you’re comfortable. When searching for a desk and chair, try to keep your eyes open for desks and chairs that are ergonomically designed.
3. Computer and Laptop
You’re going to want a traditional computer for working at home and a laptop for when you have to work on-the-go. In this day and age, having both is an important part of a business’s makeup. And even if you’re not traveling anywhere, per se, sometimes working from home can get a little redundant and you just need a change in scenery… your home computer would give you the stability you need in a work environment and your laptop would keep you mobile.
4. Storage
To keep your office space in order and clutter-free, you’re going to need some storage solutions. When most people think of storage for an office, they tend to think of the big bulky filing cabinets, and although they provide great storage and filing, they’re not the only solution. There are stylish filing cabinets, bookshelves, a wall shelving that will bring order to your office while keeping it stylish.
5. Internet Connection
For any home-based business, you’re going to need an internet connection to keep the daily operations of the business going. From responding to emails and reviews to various marketing efforts, a strong internet connection is going to be vital to the success of your business. According to statista.com, 1.92 billion people shopped online in 2019 so far and that number is expected to grow to 2.14 billion by the year 2021. So regardless of what you’re selling, whether it’s a product or service, you’re going to need an internet connection to make those sells!
6. Office Equipment
Your office equipment can be anything from your desktop and laptop to a paper shredder or printer. If you’re dealing with sensitive information of clients, you’ll definitely want a paper shredder but for the basics of office equipment, that’s going to include: printer, fax machine, copy machine, and scanner. Now, your business might not need all of this equipment but some of it is absolutely necessary for record-keeping.
7. Cell Phone
You could have a traditional phone in your office space for business calls but ideally, you’d want a work cell phone. Having a work cell phone will allow you to communicate with customers when you’re away from the office.
8. Most Importantly, Business Insurance
Being that you’re operating your business from the comfort of your own home, business insurance is probably the last thing you’re thinking about… it’s just something that doesn’t seem as important because you have homeowner’s insurance. That’s what a lot of home-based business owners think, not realizing the severity of damages that could happen without it.
What home-based business owners fail to realize is that homeowner’s insurance policies don’t cover anything related to a home-based business. So what does that mean for your business? That means that if any of your business equipment is damaged or if you suffer any business-related damages period, those things won’t be covered and you’ll have to pay out of pocket.
A lot of home-based business owners know about business insurance but think it’s going to be too expensive… that couldn’t be further from the truth. In fact, you can get affordable business insurance at Simply Business and get insured in under 10 minutes!
Don’t make the mistake of other home-based business owners in the past who lost everything out of pure stubbornness. Get your business insured today and run your business with peace of mind.