Monday, May 25, 2015
Do I Need A Storefront for My Business?
May 25, 2015
If I open a business out of my house, what do I have to watch out for? What advice would you give me to stay balanced in my family life? Moving Toward Business Ownership, Sacramento
Dear Moving Toward Business Ownership:
First of all after applying for a business license and other requirements for your particular business, you need to check zoning laws to see if you can operate that type of business out of your home. Not all businesses can be ran out of your home but many can and remember that most businesses need to start off on a part-time basic.
As a matter of fact, one of the biggest mistakes that business owners make is to go out and get a storefront or building, when they could have actually set their businesses up at home. Also many times the biggest fees in a business will be the business rent so having a business at home just makes sense.
You need to understand upfront that there are five (5) toxic things in your house, condo or apartment that can keep you from being productive as a business owner: 1) your bed, 2) alcohol, 3) radio, 4) TV, and 5) your children -- so balance is the key and don't forget to invest in a comfortable chair. If you feel there will be too many distractions or if you feel you are not balanced enough to start your business off at home, look for small or large business incubators where you can share the utilities with other businesses.
Whether you have your own office or operate on the kitchen table, it’s important to stay balanced by involving the entire family in your business by making them a part of your business. Kids can mop and sweep the floors, xerox, and answer the phone.
Remember running a family business should include the entire family which will create true generational wealth. Also stay balanced by planning family outings and during that time don’t talk about your business.
To learn more about business ownership read "How To Take Control of Your Own Life: A Self-Help Guide To Starting Your Own Business" (Series 2) - available as an e-book and paperback.