Jul
09

How to Take a Home Business to the Next Level

This is a collaborative post. All opinions are my own.

I was thinking the other day about my generation, and how many of my friends and peers have started their own small businesses, compared to my parents' generation and their peers. It's actually pretty cool! I think that's one thing millennials should be proud of. So many of us have dared to believe in our dreams and put ourselves out there. I personally know people who run home businesses in photography, sewing baby blankets, home staging, real estate, giving Spanish lessons, doing tile work, and so much more. And as you know, I write from home. The goal for most of us is not to grow into a big corporation where we're hiring employees and working out of a fancy downtown office. It's simply to run a lifestyle business that allows us the freedom to earn money on our terms, from our own homes. Personally, I'm content to have this small business that I can work on from home, in leggings, with my kids playing next to me. It's truly a blessing to bring in some income (however much) without putting my kids in daycare. But I know, not everyone is at the same place in life. Some of you with home businesses might be at the point where you're ready to grow and expand. How do you take your business to the next level?

home-business

Consider your venue

If you're holding business meetings in your living room, then it might be time to consider finding another place to host events. The place you choose will directly reflect on your company's image, so it's important to find a venue that fits your brand. This is especially important if you're hosting a conference, workshop, or meetup with more than a few people. Finding a place that's the right size, with the right vibe, and the right amenities, will have a big impact on how successful your event is.

There are online venue finders that can help you in your search. Using them, you can conveniently narrow down local venues from your laptop, by the requirements you desire: size, price, facilities and location. You won't have to sift through irrelevant venues and can quickly get a short list to visit in person. You might even find some ideas that you would have never thought of yourself!

Another type of space that has become more popular in recent years is coworking offices. These spaces allow freelancers and creative entrepreneurs to work together in a communal setting. They can be great for days when you don't want to work from home. Maybe you have some important phone calls that you don't want your kids or dog interrupting. Or maybe you need to put your head down and crank out some work without the distractions of dirty dishes and UPS at the door. Maybe you just need to put on some real clothes and interact with other adults. The people you meet there may end up being valuable connections who can refer business to you or fill a gap you have (maybe you'll find an awesome accountant or a social media guru!). Joining a local coworking space can be a big benefit when you're ready to grow your home business.

Protect your computer

If your business is run from your home computer, then it's vital that you protect it. But what do you even look for? One of the most crucial tasks a proper antivirus should do, is accurately and reliably detect all types of malware before it has the chance to corrupt your computer. The next essential feature is ability to thoroughly scan your computer. Malware can be tricky; once it finds a way into your system, it uses all kinds of innovative means to stay hidden. So a good antivirus is one that can hunt for malware in every nook and cranny of the OS. It should also be able to scan files on-demand and automatically schedule for routine system scans. Rounding it all off, is the firewall. You should make sure that the security software’s firewall defends against both inbound and outbound interference. This will make it incredibly hard for a hacker to hijack your computer and use it for sketchy purposes.

Besides getting your computer set up with a good antivirus, it's also important to back up important files, and make sure to protect anything that is confidential between you and a client. Creating good passwords will also go a long ways towards the security of your computer--especially if your business handles sensitive information like people's finances.

Always be learning

If you work from home, you have to be your own boss. This sounds great, but it can also be tough. No one else is pushing you, checking up on you, or giving you quarterly reviews. You have to motivate yourself to grow your skills and achieve your goals. 

Think about what can take your business to the next level. Is there is an online course you can take, such as an online business manager degree? Is there someone you can learn from, who can be a mentor you you? The easy route is to be lazy and complacent, to do the bare minimum and call it a day. But if you're not learning and adapting, you'll fall behind in today's fast-paced business world. Don't just take a course because it looks easy or fun; look for what will genuinely give you a competitive edge. Set yourself goals to continually learn and grow, and hold yourself accountable to them.

Get professional business cards printed

Business cards are something all businesses should consider, including home businesses. If you meet a potential client when you're out and about, give them something tangible to remember you by. Include a business card when you ship products, to brand your packaging. Leave a stack of them when you can't be there in person to introduce yourself (my friend Amy does this in the houses she stages, so other real estate agents can find her). And if you attend a meetup or networking event, business cards are vital for making connections that will last.

But it's not just having a card that's important...it's having one that will stand out and represent your brand. So the design and printing are critical. A lot of business owners are tempted to go for an irregular shape, such as a star or a heart. However, this is something you should carefully think about before going ahead. While irregular shaped cards can make an eye-catching impression, they can provide some issues. Firstly, they take away the convenience factor that is associated with business cards. It is not easy for someone to simply slip the card in his or her pocket or wallet. Moreover, shapes like this are a lot more difficult to print, and consequently they can cost more money. It might be better to just stick with the standard rectangular shape, and make your card stand out with beautiful design, a unique color, a heavier weight of paper, and good quality printing.

Did you know there are different standard business card sizes around the globe? In the UK, the standard size is 3.346 x 2.165 inches. This is the same in Italy, Spain, Austria, Germany, Italy and Ireland. But in the US and Canada, business cards are bigger, with the standard size being 3.5 x 2 inches.

Consider outsourcing your payroll

If you're really eager to grow, and already have employees or independent contractors as part of your business, you might want to consider a payroll outsourcing company. These companies can handle some of the not-so-fun aspects of your business, freeing you up for the things you really enjoy and excel at. Tasks they can take over include obtaining time card data from your employees, confirming hours worked and calculating pay, direct depositing into your employees' bank accounts or mailing checks to their homes, making payments to vendors on your behalf, paying taxes and insurance when due, and providing reports of all these activities.

However, you'll want to determine if the price of the service is worth the convenience and time savings it will bring to you. That probably depends on how big your company is. Next, it's crucial that you do some research into the payroll outsourcing company's reputation. If they'll be handling your payment and tax information, you need to make sure they are legit.

I'm sure I missed a lot of other points, but these are some things to consider if you're ready to take your home business forward to the next stage!

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