Operating a Small Business from Home

1. Operating a Small Business from Home Anyone who owns and manages a small business knows just how full- on and stressful it can be. Sometimes, it makes sense to operate a small business from a site external to your home, especially if you need storage space for stock or plan to invite clients to your workplace regularly. However, if you run a business that is compatible with a home office environment, this can be the perfect solution to hassles like commutes and workspace leases. When you are establishing your business, it’s easy to get lost in all the details. There are plenty of ways to reduce the stress of getting started though, including using smart methods to supplement your income to take some of the financial pressure off (Forex trading is a great option for this). Here are some other tips to help you stay ahead in the sink-or- swim game of business. Keep on Top of Industry Trends It doesn’t matter what you are doing in life – knowledge is always power! Keeping on the cutting edge of trends and advances in your

2. industry puts you in a position to avoid threats and take advantage of opportunities. How you keep up may depend on your industry – professional journals, government publications and news outlets are all good ways to stay in the loop. Developing your network or industry connections is also an invaluable practice. Up skill Regularly Don’t just sit back and wait for knowledge to come to you. Get ahead of the game by prioritising your education and regularly up skilling. If you’re doing something like freelance writing, you could attend any of the many conferences and tutorials around, or participate in short courses or qualifications. Of course, if you’re involved in something like trading on the foreign exchange market, there are many options for advanced courses and workshops to gain skills with software and strategies. It really doesn’t matter what your business model is – there are certainly ways to learn more and extend your skill set. Meeting Legal Obligations While it is easy to get enthusiastic about things like income and creating your product or service offering, it’s a lot less fun to think about areas such as tax and registrations. Before you go too far with creating logos or promotional material, make sure you get your ABN, register your business name, and speak to the tax office about how to pay tax. Getting Experts on Your Side Having qualified people in your corner is always helpful. Wherever you can, enlist the aid of professionals you trust. This might include solicitors, accountants, brokers or advisors. If you have the opportunity, finding a mentor is also a great idea. When you have knowledgeable

3. people on your team, you are much more likely to be aware of any issues or opportunities, and be able to tackle them head on in a timely manner. Find the Balance There are always a million things that need to be done when you operate a small business. The fact is, you can’t do them all at once – but that’s okay! Sometimes it is necessary to take a step back, assess, prioritise and let some things go. Make time to pursue a hobby or interest outside of the business, or establish ‘work-free’ zones where you can de-stress and gather your thoughts. You will find that you are much more productive when you make an effort to balance your life. Are you ready to work from home? Register now for a FREE workshop on Forex trading and discover how you could achieve financial freedom with Learn to Trade. Information Provided by Learn To Trade www.learntotrade.com.au