The Art of Managing a Successful Business… While You’re Wearing Pajamas!

The lure of business ownership is motivating because it offers more FREEDOM, more PEACE of mind, more control of one’s TIME, and the unlimited opportunity to make MORE MONEY. 

It’s true, PLUS, you get a lot of other benefits out of it too. You don’t have to commute. You won’t be away from the kids. And most of all, you get to enjoy juicy tax breaks.

Despite these advantages, running a business from your home poses complex challenges you will need to hurdle.

The fact is that you can generate passive income, all while wearing pajamas is real but not without tradeoffs. However, is it so overwhelming that you would sacrifice the quality of life you can attain?

Throughout your life, you will have ample opportunity to do something unique and stake your claim. Whether or not you decide to take advantage of the opportunities out there is up to you.

But if you want to start making something better for yourself, you should check out these home business tips, courtesy of Kurt Tasche, and use them to build a solid career:

1) Ask the other members of your household to refrain from interrupting or otherwise compromising your work. Keep regular work hours so that they know what to expect. If you have kids, schedule work hours while they are occupied at school or extracurricular activities. Don’t leave work materials in common areas where they might be moved or damaged.

2) Many people think that they can start a business at home with nothing and make it work. While this might be the case, you should always have an emergency fund and an investment set aside, to help grow your business and offset any sudden emergencies. A good business has a good cushion and does not red line its way to the top.

3) A home business is similar to most other businesses in that networking is still very important. Networking can help you find not only clients but also investors. Your network can also be a resource that you can go to when you need specific help with your business. It is in your best interest to maintain a list of contacts and to never burn bridges. 

FYI – Networking can all be done safely, even it differently before COVID-19.

Since the pandemic, networking is more vital to your business and even easier than ever! 

 4) Working at home can make you feel isolated. When you want sympathetic support, the perfect place to find it is on a home business forum. Many websites and forums are available on which home business owners can find invaluable support and advice. There are many people just like you on these forums, and their advice can help you get the most out of your home business.

5) Take all of the home-business tax deductions that are legally allowed. For example, you can deduct the cost of a second telephone line or a mobile phone if you use it exclusively for your business, but be sure to keep sufficient records to prove your deductions. Taking all permissible write-offs helps you keep more of what you earn.

6) If it is possible, attempt to start your home business before leaving your current job. This will allow you to have a steady salary while you begin building the new company. This will also give you a cushion in the unfortunate, but realistic possibility of failure or even complete bankruptcy.

7) If you want your home business to succeed, you must be willing to invest money into it. Yes, there are many you can do for free, like running a blog and such, but carefully spending money and investing in yourself is necessary if you ever want to see steady profits. Small investments such as hosting and owning a domain name are well worth it.

Unfortunately, not all who strive for their home-based business dream make it.  Due to the overwhelming maze of financial and legal specifics required to run the back office, countless businesses fail or even fail to get started.  And many that survive never reach their full potential due to getting tangled up with the financial and legal details of business operation. There is good news – it doesn’t have to be that hard! 

At Business Untangled, you will find complex subjects taught in a super simple way that is easy to comprehend.  When you understand the nuts and bolts of starting your own business, fundamental business strategies, bookkeeping, tax, and payroll concepts go much smoother, more efficiently, and can be easily handled with the best tax posture.  It is easier than doing things the wrong way, plus you will have peace of mind and more money in your pocket! 

Once you learn the language of business, the confusion and overwhelm clears, and your business starts to explode.  For those who put in the work – and untangle their business with our system, it never fails. 

Are you ready to get started building a stable business from home? Contact Business Untangled today, and let’s get your business going right!