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The ease and convenience of email, cell phones and virtual offices has made home business one of the most rapidly growing business sectors. But before you embark on your own, keep some key aspects in mind.
•Know where you stand legally. Check if you require a special permit or license to work from home.
•Identify your needs. If you require assistance related to IT, administration, balancing the books and the like, consider outsourcing resources.
•Find out if you need any kind of insurance to protect your business assets.
•Develop professional business ethics. Have a separate bank account and credit card specifically for the financial aspect of the business. Make use of your P.O. Box as an official mailing address. Business cards are also a must.
•Attend networking events to update your knowledge and skills, and improve your business.
•Create an office-like atmosphere at home kept separate from the home environment. The area designated for your home office should look and feel like a work environment.
•Establish habits that include setting regular working hours, dedication and professionalism. Set fixed breaktimes, mealtimes, and opening and closing hours.
Home business is not for all, so conduct due diligence before setting up one.
• Technology bolsters number of home businesses
• Create a system to record expenses and income
• Oursource resources for services like IT, finance
Source: Saadiya Ahmad, Special to Classifieds
The writer is a freelancer