3 Reasons And 3 Ways To Start A Business Out Of Your Home

3 May

3 Reasons And 3 Ways To Start A Business Out Of Your Home

In general, it is absolutely legal to run a business out of your home. Furthermore, when starting certain types of businesses, I highly recommend it!

There are some examples of great companies like Apple, Hewlett-Packard, and Facebook that were initially started out of the home (or, even more illustrative, the garage).

Sometimes, it IS illegal to have a home office:

  • You rent, and your landlord prohibits it
  • You own a condo, and your homeowners association prohibits it

In these cases, be sure to check the by-laws and agreements that you signed. Sometimes, only specific kinds of businesses are prohibited: Your homeowners association may not want you running a manure refinement business out of your condo, for example…

For the rest of you, starting your business in your home may be a great idea. Here are some big advantages:

  1. No additional rent/mortgage expense
  2. Some of your existing rent expense can be deducted on your taxes
  3. No commute

In some cases, it may not be a good idea:

  • Your business has a lot of inventory – where will you store it?
  • It requires a lot of physical equipment
  • It is intrusive to your home in another way (like the manure example)
  • You need to segregate work and home to work effectively

With today’s technology, though, there has not been a better time to start a business from the home. Here are some you could get started on today:

  1. Consulting firm
  2. Blog/content monetizing
  3. Amazon/drop-ship business

I quit my job to help you quit yours. The first step in doing that is to create a second stream of income, and—in my opinion—the best way to do that is to build a business.

Running your business out of your home, at least at the beginning, is a great way to minimize your expenses until you prove your business concept and want to invest more.

Your business can start with literally nothing more than your computer, phone, and a website. You probably already have the first two, so we’re talking $10 per month. If I was starting all over again, I would have made that investment from my “day-job” income much earlier.

I teach people how to create businesses that allow them to lead lives of more freedom, impact, and fun. Check out how to do that here!

BySteve Buller

Steve owns the E-learning brand I Quit My Job To Help You Quit Yours. He teaches people how to leap from employee to entrepreneur: 1) Learn how to make money on day 1 through affiliate sales, and 2) Learn how to build an online business in an area you love to generate automated income until the end of your days. Steve has started multiple businesses and operated one franchise. His passion is leveraging his experience to help people get away from the toxic corporate environment and live a life of more impact, freedom, and fun. Steve has his Masters in Professional Accounting and is a licensed CPA in the state of Washington. After starting his career in public accounting with Ernst & Young, he worked with multiple tech and biotech companies in the Seattle area. He worked as the Financial Controller, directly under Bill White, CFO at Intellicheck Mobilisa, a public company traded on the NASDAQ.