Starting a business is an exciting venture, but many people find that when they launch an entrepreneurial endeavor — particularly one that’s based from home — there’s often no adequate space to effectively combine work and family life.
If you think your current home isn’t going to be large enough to accommodate your operations, working with a reputable realtor and timing a move to a larger house while simultaneously starting a business can be beneficial in many ways.
Assess Your Space Needs
All home-based businesses require different accommodations. For example, consultants or computer programmers may only need a dedicated office space for a computer and file storage. On the other hand, if you’re making, storing, and selling handmade soaps (for instance), you’re going to need a lot more room for inventory, taking photos for your website, and maybe even packing products for shipping.
According to the U.S. Small Business Administration, it’s wise to make a detailed assessment of how much space you’ll need to successfully operate your company while keeping it separate from “home.” Keep in mind that home-based business owners can deduct costs associated with home office space and business operations. This can help offset the cost of a new and larger home purchase if that’s what you ultimately decide you need.
Working With A Real Estate Professional
While you can certainly start or even conduct your entire house-hunting journey online, a seasoned real estate agent can be a good resource for helping you find properties that meet your very specific home-based business needs, as well as the needs of your family. This person should be an advocate with knowledge and experience in helping people who need to combine work and home. For example, they’ll know to look for properties with a casita or a separate private entrance or a home with a master bedroom or office space located in a secluded area of a home away from household traffic. If you decide to work with an agent, be very specific about your needs so they can help you find the perfect property.
Coordinating Your Business Launch And Move
If you ultimately end up moving to a new home and launching your business at the same time, you can reduce stress by carefully coordinating your logistics. Getting your office and workspace set up and operational should be a top priority. Keep all of your business-related materials in one place, and consider transporting them yourself, rather than handing them over to movers. This way, you’ll know where everything is and have easy access to it.
If possible, go with a soft launch rather than a grand opening, so you can successfully get settled into your new home. Ask for help as necessary during this period to ensure you can focus on your business.
Successful Business Operations
As you settle into your new home and get your business up and running, you’ll likely be focused on understanding your target demographic and learning how best to market and promote your product or services. You may find at some point that pursuing an advanced degree is beneficial to helping you grow, diversify, and expand your operations. This is particularly true if your business is related to internet technology, an industry where it’s critical to be well-versed in the most up-to-date technologies.
Consultants also benefit from advanced education, either in their field of focus or in business and marketing. Look into online programs that allow you to learn at your own pace in your own space. You’re also likely to find that you’re able to start incorporating what you’re learning into your everyday work right away.
Simultaneously starting a business, making the move, and staying educated on best practices in your industry can sound like a tall order. However, it’s also an ambitious and exciting undertaking that can pay big dividends. Plan accordingly and map out all of your needs before making any decisions, and don’t shy away from asking for outside help. For real estate advice and more, reach out to McT Real Estate Group at 619-736-7003.