Though it may be very convenient and cost-effective to run your business from home, as time goes by you may feel that you have out-grown your home office or that it is no longer a productive setup. But moving a business out of the house typically involves numerous details as well as a significant investment of capital. So, you want to make sure that you are making the right decision.
Here are 5 warning signs that it’s time your home business moves out of the house:
As your company evolves it could mean more workers, more equipment, more inventory, and more papers to file away. If you find yourself competing for space with any of these things, then it could be a sign that you need a bigger physical set up. Cramped quarters equals less productivity.
As your business grows, you may find yourself needing space that does not exist at home, such as a conference room or a reception area for customers. You may also find yourself needing equipment that requires special renovations that you cannot do in your house.
If family members seem to always “get in the way,” you feel your customers or staff are seeing a bit too much of your house, you seem agitated because being at home is a constant reminder of work, and you are having a hard time tolerating the lack of contact with anyone outside your family, then take heed. Moving your business out of the house may make you more at ease and in turn do wonders for your productivity.
As your business grows, the noise and traffic it generates may growth with it, and your neighbors may not be so appreciative. If you live in a community with strict zoning laws, then you may be limited in terms of how many people you can hire or how often customers can meet with you at your home location.
Your location may be inconvenient for customers or may be inefficient — especially if your business deals with deliveries or face-to-face meetings. Your home office may also present an unprofessional appearance that can be hurting sales.
In short, for all the benefits that come with running your small business from home, if you want it to fly, then at some point it may have to leave the nest.
This guest post is by Gary Barzel, the manager of business development for Fastupfront. Fastupfront offers a fast alternative to business loans and bank financing for established businesses in need of working capital.
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