Starting a business at home is incredibly convenient, not to mention a huge money saver. But not all homes are suitable places to run a business. Your existing home may not have enough room, not be accessible, or have other problems, meaning you may need to move elsewhere.
It’s a good idea if you get to work with launching your business immediately, even before you move. Finding a home is a time-consuming affair that can take a handful of months. You could lay the groundwork for your business as you move to save time. Today, we’ve provided advice to up-and-coming business owners on moving house and setting up a new business.
Figure out what you need from your new home
Your new home needs to be a good fit for your business as well as your family. First, consider your business’s needs. Do you need something specific from your new home? Some business-related considerations might be accessibility, storage, privacy, a separate entryway, a bigger driveway, a home office, and a seating area. Location is always a primary consideration. Keep in mind that you may need to modify any house you find to be a better match, which could take extra time and money.
Besides housing your business, your new home will also house your family. As such, make sure you consider their requirements as well. You may want to look at schools, healthcare availability, entertainment, neighborhood safety, and other important factors.
Navigate the home-buying process
Buying a home can be complicated, especially if it’s your first time. You will have to get pre-approved for a mortgage, find houses in your budget, visit them, negotiate with the seller, get the house checked, close the contract, and finally, move there. Working with an acclaimed real estate team like the Sir Lancelot Group will make the process smoother from start to finish both when it comes to buying your new home and selling your old one. Contact us today to find the home of your dreams at the right price and in the perfect location!
Get a business plan ready and start product testing
If you don’t have a business plan already, you could work on it now while you shop around for a house. Writing a business plan will prepare you financially (and in other ways) to run a business. It contains strategies for developing a winning product or service, monetization, financial projections, marketing, and more. HubSpot explains business plans further. You could also start product testing, which involves getting a minimum viable product (MVP) ready, running it by critics, gathering market data, making a first sale, and testing the viability of your plan.
Get the legal aspects in order
Starting a business involves several legal considerations. You’ll have to register it, acquire an EIN, get licensed and insured, get a permit, set up a business structure (like an LLC, or limited liability company), get a bank account, and more. Moreover, running a business from home may involve addressing other legal aspects like securing permission from the local HOA.
Consider pursuing a degree that can strengthen your business skills
Embarking on a degree program after initiating both a business venture and a move can offer significant advantages to entrepreneurs. Pursuing further education can provide invaluable insights and skills essential for sustainable growth. For instance, obtaining an online accounting degree enables entrepreneurs to develop a robust understanding of financial management, including reading financial statements, auditing, and adhering to generally accepted accounting principles. Moreover, online degree programs offer the flexibility needed to balance work commitments, family responsibilities, and academic pursuits, ensuring that entrepreneurs can continue to advance both personally and professionally while managing the demands of their business endeavors. Considering these benefits, entrepreneurs may find it beneficial to enroll in a bachelor accounting degree program to deepen their knowledge and expertise in financial matters.
Digitize important documents related to your business
Digitizing paper documents related to your business is a good idea. Digital records are much easier to store, manage, share, and organize than paper records. Also, they are effortless to transfer if you move (assuming you don’t store them on the cloud).
When converting physical paper records into digital format, PDF stands out as the most advantageous choice. Keep in mind that with the right tools, you can make professional-looking files easily​. This ensures consistency in formatting across various devices, offers compatibility with diverse operating systems, and facilitates effortless sharing and secure file storage. Additionally, a variety of online tools are available to assist in tasks such as converting, compressing, editing, rotating, and reordering PDF files, enhancing their versatility and utility.
Don’t forget to promote your business to your new community
You’ll need to secure a presence for your business in your new community – community members will likely make up a significant portion of your customers, not to mention can support you in other ways. Creating a local promotional or marketing program highlighting the benefits of your business and how it could help the community is a smart move. You could pass around flyers, gifts, coupons, and other items to get the word out. Don’t underestimate the power of using a business card, either. A well-designed business card provides a tangible representation of your brand that leaves a lasting impression. You can make your own now by utilizing pre-made templates that simplify the creation process and allow you to customize them with images, text, color schemes, and fonts that reflect your brand identity.
A better home for your business
Planning and preparation are key to launching your new business successfully as well as moving into a new home. Buying an appropriate house could take some time, so plan accordingly and partner up with the Sir Lancelot Group to make the process as simple as can be.
