Home Sweet Home
Think it's time to move into an office? Use this checklist to see if you've outgrown your homebased business.
Q: I'm getting busier and busier. I'd rather not
increase my overhead, but how do I know when it's time for me
to move from home to an office?
A: Being busy alone is not sufficient reason to move out
of a home office. But can your home accommodate a bustling
business? It may be time to move if you answer yes to the following
questions:
1. Are you running out of room for inventory or
supplies?
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2. Do you have employees? Even if there is ample space,
many business owners prefer not to have nonfamily members sharing
personal space, like bathrooms and the kitchen.
3. Do clients come to your home? If so, you may want to
find a more professional location.
4. Will moving allow you to generate additional business?
For example, being away from home may result in more networking at
meetings; having business breakfasts, lunches and dinners; or just
having chance encounters with key contacts.
Unfortunately, moving to an office might require you to generate
two to three times as much work just to maintain the same income.
Here are some potentially less expensive alternatives:
1. Add on to your home. Chances are, you'll be adding
to the value of your home in the process.
2. Move to a larger home. Check the zoning and homeowner
restrictions if you do.
3. Use a professional office suite for meetings and specific
activities.
4. Contract out work with other businesses, such as having
fulfillment done by an outside provider.
5. Hire employees or independent contractors who will work
from their homes.
Authors and career coaches Paul and Sarah Edwards' new
book is The Best Home Businesses for People 50+.
Send them your questions at www.workingfromhome.com or in care of
Entrepreneur.