Starting a business and moving simultaneously can prove a daunting task, but with the right planning and resources, it is possible to launch a venture and complete your transition successfully. Here are a few of our top tips to make things easier.
Moving
The next few months are likely to be challenging, so your first priority is to compartmentalize your housing and business needs. You can start by identifying property types and employing methods to secure them.
- Requirements: Before you begin the property search, it’s important to assess your needs and determine what type of space will be suitable for both living and working. Consider factors such as size, location, and layout. You should also think about whether you need a dedicated office space or if a room that can be used for both living and working will suffice.
- Research: Once you have a clear idea of what you are looking for, research the housing market in your area (this handy app can give you an excellent look at the market). Look for homes that meet your needs and are within your budget. Keep in mind that you may need to make some compromises, so be open to different options.
- Realtors: A real estate agent can help you to navigate the home-buying process and provide valuable insight into the housing market. They can also help you find homes that meet your specific needs and budget.
Business
Founding a business is no small task, and it’s crucial that you cover all administrative or logistical tasks ahead of time.
- Business plan: A home-based business requires a plan, just like any other business. This plan should include information on your business concept, target market, competition, marketing strategy, financial projections, and a plan for scaling your business in the future.
- Employer Identification Number (EIN): Be sure to register for an EIN (aka Tax ID Number) as a way to identify your business and allow the IRS to track payroll taxes. Having an EIN will also make it simpler to file state and federal taxes, whether you do so annually or quarterly.
- Website: These days, if you’re operating in the digital space, a company website is essential for business success. It’s easier than ever to fill this space with relevant content thanks to the availability of online tools – this could, for example, mean creating a useful infographic using templates, then adding your own text, colors, background, and design elements.
Home Transitioning
Merging home and business is not always a seamless process, and it’s important to put in place a few measures to ensure your new setup runs smoothly.
- Setting up your home office: Once you have moved into your new home, it’s time to set up your home office. This should be a dedicated space that is separate from your living space with a clear audio and visual divide, if possible. Your basic needs are a wide desk, a comfortable chair, and any additional office equipment and supplies.
- Establishing a routine: Once you’re settled in, it can be easy to get caught up in the day-to-day running of a business and forget about maintaining a work-life balance. Establishing a routine can help you stay focused and productive. Set regular working hours and try to stick to them as much as possible.
Starting a business and moving at the same time is no doubt a challenging task, but with the right planning and resources, it is possible to handle both successfully. Start by compartmentalizing the moving, business, and transitional elements – with careful planning, you can ensure that you stick the landing in all areas of life.
Prominus® is a full-service real estate brokerage whose specialists agents are particularly unique because they each have either a law, architectural, engineering, or design degree. So when we say that Prominus® is THE elite brokerage to go to in Texas, we can back that up.
Author – Suzie Wilson ⎸Happier Home
