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Nyall Bakk
IP: 68.161.237.151 Jul 24, 05 - 6:52 PM |
Creating a Fully Functional Home Office
Creating a Fully Functional Home Office While it may seem like a good idea to start your own business and work from home, it is important that you take the right steps to help you become successful. Setting up and properly managing your home office is a vital component to getting your new business to work for you. By being properly prepared in the beginning you~ll be ready to meet any challenges head on. If you have a family start of by running your plans past them and get everyone excited and on board for your new venture. Your family should clearly understand and accept the limitations and boundaries you have set forth for your new workspace. It is important that you have an area where you can work quietly and undisturbed. Use Basic Equipment With a fully functional office, you~re ready for any challenge. Begin with the right equipment: computer; printer; scanner; fax machine; telephone line; calculator; bookcase; file cabinet; and office supplies. A comfortable office is the key to working effectively. Soft lighting and the proper chair can make all the difference. Using a Work Address Using your home address for your business is generally not a wise idea. You don~t want potential clients stopping by uninvited. A better idea is to get P.O Box at your local post office and use that exclusively. It will also seem more professional than using your home address. Managing Your Work Time Organize your time wisely. The biggest drawback of a home- operated business is the need for time management. Our intentions are good when we first start off, but somewhere between the desire to satisfy every customer and the need to meet deadlines, the time gets lost. Let~s face it~no one plans to work on overdrive continuously. Try to organize your time by using a daily planner. Schedule in time for breaks, lunch, and family. It is important to keep track of all the tasks you plan to complete during the day. You can even use Microsoft Outlook to set reminders and keep a task list that you can check off when items are completed. Managing your time is important to make sure you get everything done in a timely manner. Handle business calls while the kids are at school, or your spouse is out. For those who have no family members to deal with, quiet time to conduct business shouldn~t be hard to acquire. Don~t Take on Too Much Invest in software programs. Several software programs can assist you in operating your office more effectively. Take advantage of programs that will forward email messages, track inventory, and balance your accounts accurately. Today~s technology can work wonders if you allow it too. Don~t overdo it. If you~re running a one person show, it~s important to make time for yourself and relax. Be sure to prioritize and be reasonable in what you can accomplish each day. If you find yourself getting bogged down in clerical duties, ask family members for help. It will save you time and money and they will enjoy being needed. This will help your business become more efficient. Overcome obstacles with the right tools. If your home business isn~t operating smoothly, you might want to re- evaluate your daily strategies. Take time to prepare your home office to handle the work load. ^^^^^ Nyall Bakk is the chief editor for Advertising WorldWide, Inc, a fantastic resource for information about advertising, For more articles on advertising why not visit: http://www.advertisingww.com/articles |
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Nyall Bakk
IP: 68.161.237.151 Aug 5th, 2005 - 3:25 PM |
Legal Issues for Small Businesses
Nyall Bakk webmaster@advertisingww.com Legal Issues for Small Businesses If you own your own small business chances are you know very little about the laws and regulations that you encounter on a day to day basis. Understanding the legal issues that concerns small businesses it is vital to your business~ success. The small business association suggests that all small business owners take a few legal courses to understand the legal issues you may come up against. However many small businesses ignore this advice and suffer consequences that could have been avoided. There are many resources for legal advice and information available on the Internet. If you think that you need professional legal advice consulting a lawyer is the best course of action. But here are a few common legal issues that you may come across. Service Agreements ~ Conducting business involves drafting up a Statement of Work or a Written Agreement. Without a contract, it is difficult to enforce the law. Carefully draw up the business terms, draft it in the company~s favor, and provide flexibility and protection. Start by listing the ~scope~ of the service. For instance, cleaning a home would take 2-hours. In those 2-hours, list ~what~ service and ~how~ long it will take. Include anything that may be a special request. Excluding a portion of the service could be a costly mistake. Drafting a contract takes time, but it is necessary. As a small business you may or may not have several employees working for you. The termination of an employee is a touchy subject but may be necessary at some point in time. You should be clear on employee termination laws and regulations. Disgruntled ex employees may threaten to sue you with a wrongful dismissal suit or similar legal action. It is vital that you know your rights and what you can do in this type of situation. Since labor taxes can be so high many small business owners choose to hire independent contractors. Independent contractors are required by the IRS to claim and file themselves. You may think this makes things much easier on you. Even though you may have hired an independent contractor the IRS may consider their job to be that of an employee~s. This means things could get complicated for you. Be sure to check what the IRS considers employee~s jobs before hiring an independent contractor. If you own a small business with someone else you need to know about the legal definitions of your partnership. If you~re a sole proprietor this means you own the business yourself and can be held legally responsible for anything to do with your business. A better choice would be to start a business as a limited liability corporation. This means that if your business is sued, any personal finances and funds can be excluded from the ruling. No matter what sector your company is in you need to be concerned with intellectual property issues. It is important that you know and understand the term and issues surrounding copyrights, registered trademarks, confidentiality agreements, and invention assignment agreements. Record Keeping ~ Improper record keeping can cause serious problems. Accurate accounting records are essential if the IRS is the least bit suspicious about the company~s financial records. Invest in a bookkeeper or an accounting program to make it easier to keep account of your daily transactions. Also, organize files to be readily accessible in case of an IRS audit. You may want to hire a bookkeeper or accountant to deal with accounting issues. If you can~t afford to do so be sure to take a course on business accounting to ensure you have proper records of everything. Do your research and compare fees. The long term relationship you build with your corporate attorney will have its value. All businesses should make an investment in a ~good~ corporate attorney. Without a doubt, a business should run erring on the side of caution. Choosing to operate without the proper knowledge on business laws and business ethics, will lead to disaster. Check with an attorney before pursuing a business and start on the right foot. If it anytime you feel in over your head, consult with an attorney. Business owners can get themselves into very serious trouble without the proper legal knowledge. Nyall Bakk is owner of Inc, the #1 source on the internet for information about advertising. For more articles on advertising visit: http://www.advertisingww.com/articles |
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