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 1) Tips for Beginning a Business
When You're Limited on Space
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Tips for Beginning a Business
When You're Limited on Spaces

A small home or apartment may work perfectly for you, especially when you consider you have less space to clean; however, starting a business in a compact area could become a challenge. It's not impossible, though, when you know how to make the space work for you and understand a few business management tips.

Create a Dual-Function Room

When You're Limited on Space A small home or apartment may work perfectly for you, especially when you consider you have less space to clean; however, starting a business in a compact area could become a challenge. It's not impossible, though, when you know how to make the space work for you and understand a few business management tips.

When you have limited space, consider making one room a multipurpose room. Maybe you want the room to serve as your office and crafting room. You may want to use half the room as the office and set up shelving on the other side for the other purpose. Use your closet for storage for one purpose and set up the room as your office.
A well-placed desk and small office set up in the corner of your living room is another option.

Designate a Workspace 

Even if you can't dedicate an entire room to your business, you need a designated space for work. In this space, you should have nothing but your desk and anything else you need for business. When you have work-related items in the area, you'll be more likely to stay on task and not get distracted.

Declutter

You might be your own worst enemy when it comes to living in a small space. If you're trying to keep too much, you can easily become overwhelmed and have even less space.
Therefore, immediately after you decide to start a business in a small space, start decluttering. You'll have more space and feel less overwhelmed.
As a general rule, rid your home of everything you haven't used in the last year. Chances are, if you haven't used it yet, you're not going to use it. 

Get Approval From Your Landlord

Besides contending with the space issue, you should also take into consideration your landlord if you rent. Ask permission from your landlord before you start a business for insurance purposes. Keep in mind that, as a part of their mortgage agreement, your landlord may be restricted from having a business operating out of the house if they're still paying a mortgage. 
Additionally, think about the potential for disturbing the neighbors. For instance, if you have people coming in and out of the house all day, your neighbors may not appreciate the noise.  
If you’re unable to use your current rental as the home of your business, you will want to find a new rental that fits your needs and offers the necessary amount of space. When searching rental listings, filters can help you zero in on specific amenities, but always talk to the property manager about whether it’s okay to set up shop.

Simplify Your Business Tasks 

No matter how well you declutter and create an area for your business, you may still feel stressed at times trying to operate your business with limited space. You can, however, take steps to make owning a home-based business easier.

For one, think about creating a limited liability company (LLC) as your business structure. An LLC can make running your business less complicated, especially come tax time. You'll also have less paperwork, which means less clutter in your small space and more time to focus on your business.
You can form an LLC yourself or use an online formation service to avoid lawyer fees, though when it comes to costs, prices can vary. Be sure to check into the state's regulations before proceeding.

Make Marketing a Priority 

Even a small startup needs to have a marketing plan, and it doesn’t have to be huge. The goal is to get your name out there and to boost your online presence. You can do this with a top-notch website, using social media and opting for advertising like Google Ads.

Small Spaces Have Big Possibilities

Your small space can provide you with everything you need and more to run your business. With a measured approach and attention to the details, you’ll be up and running in no time!

Adam Evans is part of the team behind CiteBrain.com which prides itself in being a knowledge database sharing articles on various topics of interest.


April  2022



Contact: Gary Lewis Evans; GLE@DFIN.com

Gary Lewis Evans

LinkedIn Bio; https://www.linkedin.com/in/garyevans/

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