A Perspective on a Home Based Business

Whether you run a business from home or you own a brick and mortar business, there will be a ton of similarities between the operations of both business modules.But, there also needs to be a clear understanding that there are certain special considerations between a home based business and a traditional business. If you do understand the differences between the operation of each module then you will avoid some of the pitfalls that befall a home based business.Consider the following, if you operate a traditional brick and mortar wallpaper hanging business people will come in to the store to look at wallpaper samples and discuss the type of work you perform.But, if there is no home based business where will you meet your clients? Yes, you could have people meet you at your home but such a meeting needs to still be professional. That would mean you would need to have a specific area of the home designed as an office area and there should be no overlap with the rest of your personal life as it may prove detracting from you actual business.Also, where will you keep your wallpaper stock? Yes, you could keep it in your attic or basement but what happens if a pipe breaks? Regardless of the type of inventory you work with the fact remains that the inventory needs to be kept safe and it would be a better idea to rent storage space to keep your inventory.This is, of course, an additional cost that would have to be contended with as well, but it is tax deductible so it all works out in the end.Additionally, what needs to be taken into consideration is the fact that if your business grows will there be a need to expand it outside of the home. If so, there needs to be a contingency business plan to deal with this so it is a smooth transition.Now, none of these concerns are particularly difficult to navigate but they are all concerns that have to be taken into consideration or else you may find your home based business plans unfortunately undermined.Running a home based business has great potential for success but there also needs to be a clear understanding that there are certain complexities that need to be addressed in order for the business to be successful.

654 comments

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