Home-Based Success When Moving Your Home Base

Home-Based Success When Moving Your Home Base

So you’re starting a business, and you realize that your current home doesn’t quite have the space you need to spread out. What happens next? You have two choices: make it work or relocate. When the former doesn’t cut it, it’s time to look for a new home base.

Moving and starting a business at the same time means one thing in particular: you’re going to be busy. Luckily, Discover JBLM has some tips to help you alleviate some stress and stay on the right track.

Market Your New Business

When it’s time to start marketing, you have two challenges. These are starting a new business in general and then starting a business in an area where you don’t know anyone. Look for networking opportunities and consider joining your chamber of commerce.

Part of your marketing and growth endeavor should also include drafting a business plan. According to Entrepreneur, your business plan will include a competitive analysis and marketing strategies. You can refine these as you go, but you should at least have a plan to start with.

Get to Know the Housing Market

Before you get too caught up in launching your business, you also have to consider the housing market. If you’re in a seller’s market with low inventory, renting might be a better option. If you can find a large enough home or apartment, you can spend a few months searching for your perfect home before you commit to a neighborhood.

Regardless of whether you buy or rent, you will need to confirm that you can run a home business from your new location. Although the vast majority of knowledge-based businesses can be run from a residential area with no problem, you may be required to obtain licenses and permits.

Determining Your Future Needs

Although you don’t have a crystal ball to see into the future, you can give yourself an idea of future growth. This is important in the startup phase so that you don’t wind up buying a home that can’t support your business in the near future. Rootstrap offers tips on how to project future income and profits. Look at a couple of years into the future, and determine if you need additional space for working or storage.

If you’re not sure how much space you actually need, you won’t need a lot of space if it’s just you. Of course, if you take on employees or need room for storage or equipment, then you have to count that as well. You’ll also want to make sure that you have adequate parking as well as a private entrance for employees and customers.

When it comes to the technological side of things, it can be difficult to keep up with all the changes in options and trends, but you can do yourself a big favor by pursuing a degree in Information Technology so that you can handle your own IT matters and protect your business from the inside. Choosing an online learning platform can be a great benefit as well, as that will give you more scheduling freedom to accommodate your own work schedule.

Other Tips

● Choose a reputable moving company that services your current home and your new location and that is licensed and insured.

● Look for a co-working space where you can handle business until you get your home office set up.

● Handle common moving tasks, such as turning on your utilities and changing your address, early so that nothing slips through the cracks.

Starting your own business is a great way to create your own income and take control of your financial future. If it necessitates a move, getting a grip on the process early is paramount to your success. From understanding the local housing market to having a marketing partner and a plan, the above tips can point you in the right direction so that you don’t get sidetracked with proverbial potholes on the road toward success.