Starting a Business and Moving at the Same Time? Here Are Some Tips for You
You want to start a business, but for whatever reason, your living situation just isn’t right for it. Maybe your home is too small, or it doesn’t have the right kind of features, or perhaps you need a place by yourself.
Small businesses are the backbone of the economy. In fact, over 99% of US businesses are considered small businesses. Here’s how to start your business while you move.
How Do I Start a Home Business?
You want to start a business from home – that’s great! According to the US Small Business Administration, there are 10 steps you need to take:
Conduct Market Research
Compose a Business Plan
Choose Your Official Business Name
Choose a Legal Business Structure
Register Your Business
Get Federal and State Tax IDs
Apply for Any Necessary Licenses and Permits
Open a Business Checking Account
What Can I Do to Accelerate My Business Startup?
Keep the launch process as smooth and streamlined as possible by staying organized. Even if you haven’t started your business yet, you probably have plenty of notes with ideas, random thoughts, and more. Every one of these is vital! Read that again. These thoughts and ideas were important enough for you to write down – don’t dismiss them.
Make sure to have a few physical folders on hand, so you don’t lose your papers during the move (some prefer accordion folders, but you may have your own preferences). A digital organizational system is a must in today’s age, as well. Software like Asana syncs across all your devices and has many features to keep you organized.
What’s Involved in the Home Buying Process?
If you’ve never bought a home before, you don’t want to be surprised by the amount of work you have to put in. Here’s what’s involved in the home buying process, so you’re prepared when the time comes:
Establish a Budget
Save For Down Payment/Closing Costs
Preapproval for Mortgage
Hire Real Estate Agent
Find a Home
Make an Offer
Home Inspection
Home Appraisal
Ask for Credits or Repairs
Final Walk-through
What If I Can’t Find the Right Home for My Business?
Many people make the mistake of assuming they can’t afford to build their own homes. Wrong! In some cases, custom-built homes can actually save you money in the long run, especially when combined with your business.
Another option is renting. You may choose to live in a bigger city to find more clients and customers for your business. If you don’t want to live in downtown Indianapolis, Carmel is a terrific option with many restaurants, galleries, and entertainment. And with two-bedroom apartments averaging just under $1,700, units are reasonably priced.
Features to Consider for a Home Business
Office Area – Is it large enough? In a quiet space? Away from distractions?
Specialty Work Areas – If you have a specialty, such as glass blowing, do you have a suitable area for your work?
Lighting – Is the lighting adequate for both home and business?
Outlets – Are there enough outlets for your business and personal needs?
Benefits of Getting Your MBA
Going back to school may seem like one more tedious task on your to-do list, but it’s a fantastic walk-through for starting a business. Earning your MBA gives you insight into business management, communication, operations, and other aspects of business that will undoubtedly help you in the future. With online degree programs, you can learn at your own pace from home and get the blueprints you need for a business startup.
If you’re starting a business and moving at the same time, you’ll be feeling some extra stress. Use the tips above to move efficiently and affordably.
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