Create a dedicated workspace
When “at work”, you need to be able to plug into your business and leave home life elsewhere. Dominic Baliszewski, who co-founded marketing agency Yours Sincerely from home last November, says creating a dedicated work area is key. “It meant I could focus when working but was able to switch off in the evenings when not in the ‘office’,” he says.
Sort your finances
For Julia Kermode, chief executive of the Freelancer and Contractor Services Association (FCSA), setting up a separate business account and keeping track of your business expenditure is vital. “Keep a record of all your invoices and payments and file them properly to save yourself additional hassle when it comes to sorting your tax at year-end,” she says.
Embrace automation
There’s so much to do when running a business and not enough time and money to do it. But there are many cheap or free software packages you can use to do the heavy lifting. Pete Willcocks, founder of insurance company Larsen Howie, set up his business from his bedroom in 2015 and now has seven employees. He says finding the right software is key. “It’s easy to get intimidated by just how much you have to do in that crucial first year, so having free or cheap programs such as Asana, Trello or Zoho at the ready is vital to making sure you keep up the pace,” says Willcocks.
Protect your data and systems
Small businesses are not immune to hacks and data breaches. Dr Robert Phillips, senior lecturer in entrepreneurship at Alliance Manchester Business School, recommends investing in a good antivirus software on your computer, encrypting data and creating strong passwords for your devices, including a password-protected screensaver. “The fines for those that breach data regulations are becoming higher, and loss of trust from customers is particularly damaging for a small business,” he says.
Complement your personal wifi
Wifi is a must when you’re running a small business from home, but sometimes you need additional forms of connectivity. Albert Azis-Clauson, CEO and founder of freelancer platform UnderPinned, recommends having a backup plan for your wifi, such as a mobile data plan to provide seamless connectivity. “There’s nothing more stressful than dotty wifi when you have a final change needed for a swiftly approaching deadline. Make sure you know somewhere you can go if your wifi is failing you, or have a mobile data service that you can use in case of emergencies,” he says.
Stay in the game
Phillips also says it’s important for home-based entrepreneurs to network. “Working alone can lack the social element of being around others,” he says. “Go to local networking events to keep up with unofficial gossip in your industry, and remember that membership of business organisations and travel to events is tax deductible.”
Reduce your tax bill (legally)
There are many perfectly legal ways to reduce your tax bill when you work for yourself. It is advisable to buy business mobile and internet packages that are separate from your personal plans. Also, many home-based businesses reduce their tax bill by claiming towards their utility bills. “If you work at home, a proportion of your utility bills – based on the space your business uses and the number of hours you work – is also tax deductible,” says Phillips. This is easier to work out if you keep your business to one dedicated room of your house.
Stick to the schedule
Sara Keel, founder of baby weaning product company Babycup, says home-based businesses need to keep strict schedules to ensure their work is done and home life doesn’t take over. “The laundry probably needs doing, and the house could do with a vacuum, but remember: you are at work – it just so happens your office is in your house. Train yourself to have a schedule so you don’t slip into the trap of losing valuable hours to tasks that weren’t your priority for that day.”
… but have some downtime
Part of your schedule should include some dedicated exercise time, too. “While going running or to the gym is medically proven to reduce stress, it is also a good time to mull over ideas or think creatively,” says Phillips. Downtime during the working day is also important. As Ed Molyneux, CEO and founder of cloud accounting software company FreeAgent, says: “It’s easy to fall into the trap of thinking you’re too busy to take a break from work. But doing this can actually be very detrimental to your business and your own productivity.”
Remember, you don’t have to stay at home
Of course, the joy of being freelance in 2019 is that as long as you have a good mobile device you can work from pretty much anywhere. “Businesses today rely on great connectivity to be able to provide access to their products and services anytime, anywhere and via any device,” says Anne Sheehan, director at Vodafone Business UK. But running out of data or losing your wifi connection at a critical moment can be very costly – so entrepreneurs should consider getting a business mobile plan with unlimited data.
Your business unlimited
Transform your small business with unlimited data, texts and minutes. Explore Vodafone’s new unlimited 5G-ready plans for your business at vodafone.co.uk/business
