As an entrepreneur, if you currently live in a home that prevents you from having the space and amenities for effectively managing your business, your best choice is to move. At Bill White Homes, we understand that the thought of moving while planning to start a business can sound daunting. In this article, we go through some tried and tested ways through which entrepreneurs like you have been able to seamlessly manage the two.
Home Features to Look For
Buying a home is a long-term investment that should cater to your present and future needs. When shortlisting options for your new home, focus on the following features:
Bedrooms: Do you plan to welcome a newborn or a senior loved one into your home in the coming years? If yes, then look for homes that have multiple bedrooms. Alternatively you can use the extra rooms as storage or convert them into a studio catering to your business needs.
Home Office: Homes with an existing office will help overcome the time and effort you’ll need to invest into creating one post-move, allowing you to begin work right away.
Outdoor Space: As reported by Thrive Global, an exterior space in your home helps to reduce stress by serving as a place to disconnect from work-related stressors and challenges.
Starting a business and moving houses requires systematic planning and execution. As you are trying to juggle both of these together, it’s best to create a list of set timelines with objectives to meet as follows:
9 Months Before Moving
Start shortlisting locations which provide the best balance between your personal and work needs, such as low business tax, thriving local economy, proximity to amenities, etc. Once you have your requirements in place, hire a real estate agent like Bill White to do the leg work for you, regarding finding properties that fit your criteria. As for your business, begin the process of applying for licenses and permits, which can take a few weeks to months to be granted.
6 Months Before Moving
This is when you should choose the appropriate business entity such as a Limited Liability Company (LLC) and apply for registration. Additionally, as reported by Zenbusiness, small business owners should also apply for a “doing business as” name, which enables them to sell products under unique brand names.
Start narrowing your home search as well by visiting houses and shortlisting those you like. If you plan to take a loan, opt to get pre-approved as it’ll help convince buyers to choose you over others and lead to quick disbursement of funds.
3 Months Before Moving
By this time, all legalities pertaining to your business should be in order. Additionally, you should finalize a home, make an offer, and start the closing procedures. With a set moving date in mind, you start hiring professionals to meet your moving and business needs:
● Movers: Delegate the stress of packing and transporting goods onto professional movers, providing you the time to focus on starting your business.
● Accountant: A skilled accountant can help create accurate business projections and other financial statements, which you can use to pitch your business to investors and secure funding.
● Digital Marketer: Having a digital marketer on your team enables you to create a solid social media strategy to put your new business on the map, generate interest from consumers and start making sales from the get-go.
Following the above-mentioned steps will help you find the perfect home catering to your personal and professional needs while allowing you to stay on top of all important responsibilities regarding launching your business.