If you’ve ever imagined yourself having the freedom to set your schedule and work on your terms, now might be an ideal time to start a small business at home. One silver lining of the COVID-19 pandemic is that it’s motivated more people to explore entrepreneurship.
While being self-employed has some advantages, there’s a lot to learn before you hit the ground running. In this guide, we’ll break down what you need to know about starting and running a successful home business.
Ultimately, there’s no wrong way to come up with a successful home business idea, but some are more feasible than others. Make a list of your skills and passions, then evaluate whether any of them translate into something you can realistically turn into a full-time job.
In the early brainstorming phase, ask yourself questions like these:
Writing a comprehensive business plan can be time-consuming, but it’s worthwhile to go through this exercise – especially if you’re hoping to break into a new industry and need to familiarize yourself with the field. Your plan should include all the elements you need to start and manage a home business, such as a market analysis, a sales plan and a budget.
Having a written business plan will give you a roadmap for future growth and profitability. It will also be an asset if you need to apply for financing down the road – when deciding whether your home business is a worthwhile investment, lenders will want to see proof that you’ve done the research, evaluated market demand and weighed potential risks.
Though running a small business from home offers several outstanding benefits – like saying goodbye to stressful commutes and frustrating office politics – you may have trouble separating your work from your leisure time when everything happens in the same place. That’s why creating a designated home office space is crucial for establishing a healthy work/life balance and avoiding burnout.
When setting up your workspace, consider what tools, technology and equipment you need to get the job done. Invest in a comfortable desk and chair, decorate in a way that expresses your personality and take steps to minimize distractions. Once you have the space you need to work from home full-time, you’ll be more motivated to start your small business.
Starting a business may be the fulfillment of a lifelong dream, but preparing your taxes when you’re self-employed can feel like a nightmare. At Clear View Business Solutions, our knowledgeable team stays abreast of all the changes in small business tax law, so we can help you maximize your deductions and credits and minimize your tax liability. We provide full-service accounting and bookkeeping for gig workers, freelancers and home business owners at our two Tucson locations.
At Clear View Business Solutions, we know you want your business to prosper without having to worry about whether you are paying more in taxes than you should or whether your business is set up correctly. The problem is it's hard to find a trusted advisor who can translate financial jargon to layman's terms and who can actually help you plan for better results.
We believe it doesn't have to be this way! No business owner should settle for working with a CPA firm that falls short of understanding what you want to achieve and how to help you get there.
Northwest Location:
7530 N. La Cholla Blvd., Tucson, AZ 85741
Central Location:
2929 N Campbell Avenue, Tucson, AZ 85719
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At Clear View Business Solutions, we know you want your business to prosper without having to worry about whether you are paying more in taxes than you should or whether your business is set up correctly. The problem is it's hard to find a trusted advisor who can translate financial jargon to layman's terms and who can actually help you plan for better results.
We believe it doesn't have to be this way! No business owner should settle for working with a CPA firm that falls short of understanding what you want to achieve and how to help you get there. With over 20 years of experience serving hundreds of business owners like you, our team of experts combines financial expertise and proactive communication with our drive to help each client achieve results and have fun along the way.
Here's how we do it:
Discover: We start with a consultation to understand your specific goals, what's holding you back, and what success looks like for you.
Strategize & Optimize: Together, we design a customized strategy that empowers you to progress toward your goals, and we optimize our communication as partners.
Thrive: You enjoy a clear view of your business and your financial prosperity.
Schedule a consultation today, and take the first step toward being able to focus on your core business again without wondering if your numbers are right- or what they mean to your business.
In the meantime, download, "The Business Owner's Essential Guide to Tax Deductions" and make sure you aren't leaving money on the table.
