Feb

Home Based Business Office; is it right for you?

By media

Home based businesses have lots of advantages; clearly the most obvious is the elimination of the commute and the need to adhere to a dress code. The savings in being able to spend less on gas, have less wear and tear on a car, pay less for insurance premiums, dry cleaning and other clothing expenditures is truly significant. Additionally, for many who work at home, there is the ability to maintain a schedule that is better suited to an individual’s lifestyle (unless, for example, customers or networking requires you to maintain regular work hours). If you are running your own business at home (rather than being a telecommuter), then the use of virtual assistant services will grant you the freedom to work whenever you want.And if you have children,you can be there when they come home from school (not to mention you will be there to witness “firsts” e.g. the first walk, talk etc.).

In addition to these advantages, a home based business which has a dedicated area in your home can be used as a deduction from your income taxes (check IRS rules). Of course, all your other business expenses continue to be tabulated as well.

Because of the economy, many people that did not originally plan to work at home now find themselves in a position to consider this option. People who are reluctant home based workers may be apt to see the negatives of working at home more prominently than those who have chosen it. Regardless of the circumstances, the need to address the negatives exists. Home based workers who address the negatives will have a more fruitful work at home experience.

Home based office issues that must be addressed include:

Time management

Home based business owners have the luxury of taking time off whenever they want…right? Well, if the business owner tries to do everything (too many hats syndrome) and does not use business process software then the chances are extremely high that this individual will be working twice as much as someone who “goes” to work. The key for managing a successful home business is being able to effectively balance the demands of work and home. Some people are challenged by the distractions at home while others never know when to quit. Oddly enough the answer to both these problems comes from being organized and delegating. Home business owners that implement business process software will find that they are able to put much of their sales and marketing efforts for their online business on automatic. Even those who do not have online businesses will benefit from using contact management systems to automate follow up. There are a lot of automation solutions. Some are simple calendar systems and more elaborate ones allow multiple users and automate all aspects of your business from lead generation to sales to marketing to billing to customer support. Imagine the amount of time gained once such a system is implemented. The good news is that there is a lot of choice and many of these choices are not expensive. Strangely, a lot of small business owners and work at home soloists do not think that such systems would apply to them. They need to think again. When there is just too much for one person to do, automation is an important consideration. One very simple solution that I have used quite often is offered by Sendoutcards.com. It is great for sending out thank you cards to your customers. It is so convenient to be able to send cards and gifts right from your desktop. It even has a contact management system with reminders.

Another consideration is outsourcing some of the work to a virtual secretary or other expert that can do virtual administrative services. You will save time and money by using virtual assistants who have the expertise to do what you need in a smaller amount of time. In addition to this, it is likely to get done sooner (versus not at all or later if you are the person that has to do everything) and it most likely will be done better because you are hiring an expert. Remember, you are only paying someone when you need a particular job done. Since they are not your employee, you are free to use someone else for the very next job that needs to be done. This is a great way to get someone who has expertise to do exactly what you need and you are only paying for the work that you need. Elance.com is a great place to find workers with the expertise that you need.

Social Aspects

Many people have a hard time adjusting to the isolation of working at home. This is an important need that must not be dismissed. Time must be set aside for networking with other small businesses. Associations and local business organizations may be joined to address this need. Additionally, there are other benefits such as finding business opportunities, sharing information and getting discounts on health insurance for example (depends on organization). Getting out of the house from time to time is refreshing and will prevent stagnation. There will be more time for networking when time management is handled efficiently.

Keeping Current in Your Field

Self education will help your business stay competitive. You need to stay aware of best practices for your industry as well as look for ways to outpace your competition. Keeping abreast does not mean that you have to become an expert in everything. It does mean that you know what exists out there and this will provide you with insights for change and improvements. Outsourcing to experts is still the easiest solution for change but you need awareness before you can evaluate and make changes. Because of the Internet, it is now easy for stay at home businesses to stay current. The Internet provides access to many certification programs, webinars and college degree programs. The possibilities are enormous and are just a mouse click away.

Getting On Line

For many people, having a website still seems like a foreign entity that is not a requirement for business. This is a big mistake. The Internet is in its infancy. Right now there still exist opportunities to carve a place on the Internet for your small business which will allow it to effectively compete and grow. There will be a time in the not so distant future when those niches will be filled (with your competition if you fail to do something). It is not a matter of should your small business get on line. It is a matter of getting on line soon and making sure that your business establishes a presence. The time to do it is right away while most of your small business competition is still unsure about it. You do not need to have the expertise to get online. Small businesses need to make sure that they connect with real experts and not those who just claim expertise. The opportunity to get a strong online presence should not be messed up because you are trying to pay the cheapest amount possible to the local college student for example or a graphic designer who makes beautiful websites but makes your site a coding nightmare for search engines as another example. The cost of losing your place online and the struggle you will have to gain it later will far outweigh any short term gains (if any) of hiring the least expensive help. Whether your business requires local customers or global customers, getting online and getting found is for you. You do not have to look far to find affordable services to get your business online but you do have to make sure that they can deliver expert results.

Help answer the question

What business degree should I study in and where?
I'm planning to get a business degree in the United States but I'm am unsure of what type of business I should major in or even where should i study in.

I'm more of an entrepreneur-minded person and I have look into Business Administration for some time now. I'm more of creative person and I love to challenge new ideas.

I am also looking for a university that offers cheap and reasonable fee and good education with good credibility. I'm currently looking into University of Nebraska but I am also interested in other options.

Thnx

Lori Olson loves helping small businesses develop strong online presences. She has a team of 250 professionals who analyze & implement SEO, SEM, PPC Campaign Mgmt, Social Media,Copy Writing & Web Development strategies which are customized to fit any needs, wants & budget. Update Small Business also provides leading edge employee & sales assessment & training; & CRM solutions.Small Business Consulting or call 877.265.6568.