The Secret to Running a Successful Home-Based Business
Micro-businesses represent over 95% of all privately owned businesses in the UK. Most of these micro-businesses are one-person operations, run by passionate entrepreneurs from the comfort of their own homes.
There’s a lot to love about running a home-based business. Freedom to set your own hours, charge what you’re worth, and do work that you find meaningful to name just a few. But these benefits do not come without a few drawbacks. Home-based business owners often struggle with work-life imbalances. To optimize your micro-business and ease some stress, check out these tips from St Albans Enterprise Agency.
Make Time for Self-Care
One of the hardest parts about running a home business is finding time to take care of yourself. It’s easy to let your work spill into your personal time. Taking time to practice self-care is important for relaxing your mind, restoring your ability to focus, and easing stress. During work breaks, try not to stimulate your mind with social media, news articles, online shopping, or YouTube. Choose activities that give your mind a chance to relax! Do a breathing exercise, take a walk outside, stare out the window, or put together a healthy snack.
Make sure your home environment is set up to foster healthy, stress-free living. Redfin suggests decluttering, keeping your thermostat at a comfortable temperature, and opening the curtains to let natural light into your home.
Outsource Extra Work
Outsourcing is a magic fix for a number of freelancing challenges. Whether you’re feeling overworked or uninspired, outsourcing can free up your time for the projects that you find meaningful. Outsourcing time-consuming tasks like social media or bookkeeping will help you grow your freelance side gig into a full-fledged business!
Invest in Indemnity Insurance
Do you have professional insurance? Professional indemnity insurance can offer valuable peace of mind. For example, if a client claims that your work resulted in some form of financial loss, your indemnity insurance will cover the cost of their claim. Indemnity insurance typically covers things like confidentiality breaches, professional negligence, defamation, loss of documents, and legal fees.
Design a Professional Home Office
When you work from home, staying focused often feels like an uphill battle. Creating a professional home office can help you tap into the work mindset and stop distracting yourself with all those little things you need to get done around the home. Make sure your office has plenty of natural light, a large desk with enough space for your personal workflow, and effective storage solutions to control clutter.
Your home office is also important for your external image. ToughNickel explains that when you hop on a video call with a client, a home office background will appear much more professional than a cluttered kitchen counter. Closing yourself into a dedicated office can also help control household noise and other distractions that can derail your focus during an important meeting.
Have you put much thought into personal branding? Branding offers invaluable benefits to micro-entrepreneurs. Designing a brand identity for your home business will help you stand out from your competitors and justify charging higher rates for your work. Even if you’re working as a freelancer without any employees, branding yourself will give clients the impression that your business is bigger than you. Make sure your brand meshes well with your personal values as well as those of your target audience.
Once you get into the swing of things, running a micro business can be a lot of fun! The trick is to follow best business practices that help you stay organized, save time, and control stress. By laying a strong foundation for your business now, you’ll have plenty of freedom to grow in the future.
Looking for small business support? St Albans Enterprise Agency offers free business advice, training, workshops, and business premises for rent. Call today to learn more! 01727 837760.