Setting up Your Home Office

If you’re an entrepreneur chances are you work from home as many or more hours than you work at your place of business.  Indeed, in today’s virtual world you may be running your business entirely from home, and that means you should have a space set aside that’s dedicated solely to your business. Whether you have a separate room or just an area in the main part of the house, having a well-equipped home office doesn’t mean you have to have the latest cutting-edge technology, it means having everything you need to perform your work efficiently.

Here are some tips on setting up your home office:

Be practical. If you’re starting your business on a shoestring or have limited funds then consider keeping your office low-key and functional. Start with the basics and plan an expansion phase for when your business takes off and starts showing a healthy profit.

Concentrate on the essentials. A laptop, printer, desk, chair, and simple filing system as well as basic office supplies will probably be enough in most cases. Depending on your business you might add shelves or cabinets to hold stock or other business-related items if you have the room.

Don’t skimp on necessities. Make sure your computer is powerful enough to handle all the functions you’ll need, such as marketing and inventory programs. Also keep in mind you’ll need security to keep your business information out of the hands of predators.

Check your tax codes. Basically, your home office needs to be in a separate room in order for you to claim it as a work expense. Check with your accountant or tax preparation expert in advance so you know what you’ll be able to deduct at the end of the year.

Keep organization in mind. In addition to a file cabinet you should have folders and a filing system implemented from the beginning, so all your hard copies and contracts are easy to find and access.

Don’t overdo it. Unless you’ll be interviewing employees or clients in your home office the goal should be function and comfort, not impressive.