How to Manage a Homebased Business

Working at home does have its advantages. You can set your own schedule and enjoy dress down day every day. But it requires discipline and organization to run a successful home business. Follow these steps to give your enterprise a strong start.

Difficulty: Moderate

Instructions

Things You'll Need:

• Filing system
• Calendar
• Timer

1. Create a specific space for your business. If you need a desk or computer, do not clutter the area. Use a different room if possible. This will also come in handy when you file your taxes and must itemize a portion of your home and utilities. If the room is dedicated to business, it qualifies for deductions.

2. Keep things separate. Your work area should be focused on your business. Have a calendar specifically for your business rather than using the family calendar. Create a separate email, bank and postal account. Ideally you should also have a separate phone line and fax machine.

3. Schedule your day. Set meetings with yourself to accomplish everything you need to complete in a day. Include time for breaks, checking emails, going to the post office, placing phone calls, billing, invoicing and research.

4. Create a well-rounded "To Do" list. You need to have adequate time to create your product or service, market it, invoice it and improve your business. Schedule time for all the duties a small business owner must make time for by growing slowly and deliberately. Don't just put out fires.

5. Hire help if you can not perform all the functions of your business by yourself. Professionals can often design a business card or website faster than you could do it yourself. Often it is worth it to hire a babysitter to watch the kids, a college student to complete the order entry or a courier for delivering products.

6. Learn to say "No" by saying it often. Never agree to anything on the spot. Inform your friend that you need to check your calendar to see if you have time to do her favor. This makes it easier to come back and honestly say you are too busy. Don't feel guilty if you have to say no. You are working.

Tips & Warnings

• Wear a hat, sweater or special shoes as your "working" apparel. Family should recognize that you are working when they see your hat and will know to come back if it is not an emergency. Additionally you will jumpstart your day just by putting on your special item of clothing.
• It takes time to make a profit with an at-home business. Your business plan should have addressed the first several months as you build your business. Encourage your family and friends to be patient as your business grows.
• Don't let yourself get off track throughout the day. You only meant to spend five minutes checking email but suddenly an hour has passed. Use a small kitchen timer to keep time limits on your activities.