Anchor Your Business

Drop that anchor and show the market place you mean business.

Lets be clear, "working from home" and "running a business from home" are two very different things.  Working from home is a option that some employers offer their employees.  Running a business from your home is a completely different idea and must be handled with care.

Running a business from your home sounds great in theory; you can write the space off at tax time along with a portion of your utilities,  you don't have to pay rent - or at least formally.  With that comes an endless supply of distractions:  dogs, kids, door bell, home phone, along with a few other temptations; I think Ill just go make a sandwich, or I should flip that laundry.  For the very disciplined the later can be tamed for the most part.  For those easily distracted, those little moments that you cut out of your day can become a big productivity sucker which can spiral as you become frustrated with the workload and lack of concentration.

 

One of the biggest concerns about running your business out of your home is the perception of not being 100% committed.  People seeking your services or products may instantly have a preconceived notion that your not 100% committed to your business and that you can pull up anchor at any moment and just sail away.  It's a genuine prejudice, as many businesses start out in basements or back bedroom offices just to test the waters.  Those testing the waters often find that their business model doesn't float and no harm no fowl, they just stop operating out of their home. Businesses that are not going to make it fail within the first two years.  With many reasons for a failed business;  like a poor business model, unable to create systems, lack of preparation, etc. you can see why some opt to start their business at home, but often that is part of the problem and not the solution.

 

 

Be an individual, just because everyone else is doing it doesn't mean you should.  A tangible commitment to proper office / business space can give you much needed incentive to succeed along with a competitive edge. It also shows your potential customer that you have committed to your business by having a space designated to do business.  Nothing says "I'm not doing well enough to make a financial commitment to  my company" like a home office.  Or at least that is how it is often perceived by potential clients.

If you have done your market research, know you strengths and have defined your weaknesses (so that you can fill them), have a niche place in the market that makes sense to consumers and you believe in your business, don't make the mistake of not investing in space.  If your confident, know your business model is sound, then don't cut the one corner that could help solidify your success.

 

 

Lastly, the work from home office trend has since begun to fizzle.   Business has not  moved into the residential suburbs of small town anywhere.  If your running your business from the basement, who are you engaging with? Who are you running into at random (other than the cat) that could be a potential lead to your biggest client?  It is a chain reaction that happens everyday in the business word.  Engaging with other like minded people can grow your business in ways that may be missed if your not there to engage.  Alan Gregerman, a business consultant and author of the book, The Necessity of Strangers, says "we can be most successful when we connect with more people.” There’s “a lot that’s cool about collaboration”

 

 

So if you have a strong business model, have done your homework and are confident in your success, show the market place you are committed to your business. Its time to drop  anchor, find a space that shows your potential clients, customers and network referrals that you mean to do business and be in business for the long haul.