Home business transitions
What's the biggest pitfall of going from employee to home-based business owner?
The most significant "transitions" in a new home-based business affect finances, space and mindset:
- Finances. Financially, the greatest challenge will be going from a regular paycheck to an irregular one - if at all, in the beginning. For this reason, it's best to have some savings socked away to help smooth the transition.
- Space. Physically, when you live and work under the same roof, you don't have the physical distance that generally makes it easier to focus on work when at work and home when at home. Create a dedicated office that's focused on business.
- Mindset. Professionally, unlike when you were an employee, likely in charge of certain tasks in your job, you now have responsibility for all of the tasks your business requires. Get used to wearing many hats.
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