Starting Your Small Businesses in a Small Space

Andy Hughes

Over 25 million people in the United States own a business, and you can bet they don't all live in huge homes or have separate work locations. Many businesses start right from home each year. You don't have to be a homeowner to start a business, either. An apartment can be the perfect place to launch your entrepreneurial career. Here are some tips from Craig Saphin Consulting to help you get started.

Licensing, Permits, Approvals, Oh My!

Once you've come up with your business idea, you can't just start selling. Depending on where you live, you may need to obtain several different permissions first. If you're living in an apartment, start by checking your lease. It may contain restrictions on starting a business or on the type of business you can operate.

Ask your landlord if you have any further questions. Next, check the state and local requirements for running a home business. Each state and locality has different conditions and restrictions. 

If you've checked into everything and operating a business in your location is legal, you need to register your business. Take some time to consider the type of business entity best for you.

While a sole proprietorship is simple, a limited liability company (LLC) may provide more protection, flexibility, and tax advantages. Again, different states maintain different regulations for business entities. You can avoid lawyer fees by handling the paperwork yourself or delegating the matter to a formation service to handle all the details.

Heading Home From Work

When work and home are in the same place, it's easy to feel overwhelmed. Setting up a dedicated workspace in your home ensures you can step away from work and separate your personal life.

Be sure you have everything you need in this area for the best results. Necessary items may differ depending on your business, but at a minimum, you need a desk and some shelf or file cabinet. If you sell and ship products, it's also a good idea to set up a shipping station with packing materials, labels, and your inventory all handy. 

Setting a schedule is another way to define limits. Though it can be tempting to walk over to your business area throughout the day and evening, try to resist. Setting specific work and relaxation periods are crucial to achieving a healthy life-work balance. In the beginning, you may spend more time working on your business, and having the flexibility of your workplace being so near is one of the most fantastic perks of a home business. However, making sure you schedule time for yourself helps keep you from getting burned out quickly. 

Last but not least, do what you can to streamline your home for positivity and wellness. That means boosting efficiency and reducing criticism as well as clutter so that your home will be both a place where you can rest and a workplace you genuinely enjoy inhabiting.

Business Growth

As you set up your business and follow these common-sense guidelines, your business begins to grow. As it does, stay organized and don't let yourself get overwhelmed. At a certain point, it may be beneficial to outsource some elements of running the business to focus on what you love most.

Craig Saphin Consulting focuses on helping successful founders and entrepreneurs running small to medium-sized businesses to increase business sustainability and growth. Get in touch for an initial chat about your situation and vision.