How to Make a Flat-Based Business Work for You
Home businesses are more common now than ever, as entrepreneurs seize the opportunity to do what they love from the comfort of home. However, depending on your requirements, smaller living quarters, such as a flat, can also work like a charm in giving you the space you need to run your fledgling business optimally. Here are a few tips on how to set up your business nicely, presented below by HiveClouds.
Starting from Scratch
When starting a business from scratch, it's important to determine the structure of your business. It's crucial to understand the different types of structures available to you, such as sole trader, partnership, company, and trust, and determine which one aligns with your business goals and needs. Additionally, it's important to be aware of the legal and tax implications of each structure. Seeking advice from a qualified professional, such as a business lawyer or accountant, can help ensure that you make the right choice for your business.
Is it Permissible?
One of the first things you may need to establish before setting up your business in your flat is to find out if it is permissible. Running a business from your flat may not be acceptable for all sorts of reasons, some of which may be beyond your control. So you'll first need to consider if it is, in fact, doable by double-checking business regulations in your area such as zoning laws, determining what type of business licence you'll need to apply for as well as checking with your landlord too if it needs to be included in your lease agreement.
You may find that flats in your area aren’t conducive to running a business. In that case you should look into renting or purchasing a home. Renting a home may better serve your needs if buying one isn’t yet in your budget.
Why it's Trending
Running a business from home or your flat is on-trend these days, as more and more people seize the benefits that come with remote working. Besides the usual perks, such as saving on commuting costs, beating the traditional nine-to-five office hours, and working in your jammies on your off days (we all have them!), running a business from home can save you a lot in office rental expenses as well.
Get the Word Out
An important part of any business is marketing to new customers, and as a home-based business, most of your marketing will be online. You’ll need to leverage social media sites like Facebook, Instagram, and Twitter to reach your customers. This can seem like a big task, but there are tools available to help. For example, you can use a tool to create Facebook ads quickly and easily. Once you settle on a design you like, you can use Facebook to target the ad to your ideal customers.
Organisation is Key
When it comes to running a business from home, staying organised is key to keeping your workspace functional. Firstly, you'll want to decide on your ideal space, cordon it off and mark it as the 'work zone.' Ideally, it should be well ventilated, quiet, and accommodate basic office furniture and have additional space to store your inventory, for instance.
Use Salesforce to Increase Customer Engagement
Salesforce is a powerful tool for businesses looking to optimise engagement and inform their strategies. With its customizable dashboards and reports, Salesforce allows users to gather data on customer behaviour, track sales performance, and analyse market trends. By leveraging this information, businesses can gain insights into their customer base and tailor their approach to meet their needs.
Additionally, Salesforce's integrated marketing platform enables targeted campaigns that can enhance engagement and drive growth. Overall, by utilising the capabilities of Salesforce, businesses can make informed decisions and stay ahead of the competition.
HiveClouds can help you learn how to make Salesforce work for you!
While working from your flat seems like the perfect solution to attaining work-life balance, ironically, it can sometimes be harder to achieve. Fast Company notes that because you are home-based, work-life can sometimes blur into home-life if you don't have boundaries in place. To avoid burnout and to ensure that you don't put other vital aspects of your home life on the back burner, it's important to prioritise, set realistic expectations for yourself, and realise that there is a time to “knock off” as you would do in a typical office job.
Making it Work for You
No matter the size of your home, whether large and spacious or cosier, you can make a home-based business work anywhere, provided you've done the necessary research. Once you've got the groundwork in place, the brilliance of working from home and running your own business gives you the ability to make your home-based business work for you!
If you use Salesforce for your home business, HiveClouds can help you optimize how you use it and why. Visit us online to learn more and set up a consultation.
Article written for HiveClouds by Emma Grace Brown