With the help of the internet, cloud-based services and collaboration tools, it is possible to run a successful business from your own home. The advantages of this are numerous, starting from the fact that you don’t need to lease an office space, that you can list some of your utilities and home remodelling projects as home deductibles, as well as many other hidden perks. In other words, it is an ideal opportunity for a one-man startup running on a tight budget. Seeing as how, in this situation, you will need all the help you can get, here are top three ways to improve the productivity of your home business.
Make a schedule
People working in an office may loathe the idea of commuting every day and then being confined to the same workstation day in and out but there is a method to this madness. You see, once you get your hands free to tailor your own workday, you will realize just how hard it is to drive yourself to actually get things done.
It is much easier to postpone work when your bookmarks bar is just a click away or when your living room is just around the corner. Therefore, you need to structure your day and try to stick to this schedule as much as you can. Of course, no one is expecting you to drive yourself as if you were in a real office but the discipline is the key to making it in this situation.
Taxes and deductions
One of the greatest advantages of running a home-based business we mentioned in the introduction is the ability to get some tax deductions on your overall household bills. This, however, is a slippery slope and is not nearly as simple as you might have guessed. First of all, your home office needs to be your principal place of business.
Second, you are allowed to apply for a deduction only on those materials that are used for the decoration of your business-related space. As for the above-mentioned utilities, you need to know the exact percentage of your home that is used for business purposes. This is the exact percentage of your indirect expenses that could potentially be deducted.
Emulate an actual office
Another thing you might want to try is emulating an actual office inside of your own home. Sure, in theory, you could be just as productive from a couch but in reality, this isn’t a likely scenario. The best way to deal with this issue is to actually construct your own home office. Get all the necessary equipment and remove all the distractions. Furthermore, you might want to contact your local Sydney electrician to make sure your phone is connected, as well as that your ADSL line is fully functional.
Some people even dress up for work when going to their home office in order to get a better immersion and adopt this work-friendly mindset easier; still, to others, this role-play is a bit too extreme. Nonetheless, in order to reach this pinnacle of productivity, you need to adopt the right mindset and here, your home office can help you out.
At the end of the day, in order to thrive as a home-based business, you need to get the best of both worlds. On the one hand, you have the reduced expenses that come from these tax deductions and the absence of the need to commute on a daily basis. Needless to say, this surplus can be better utilized to provide the growth of your business. Now, all you need to do is find a way to remedy the downside of working from home (removing distractions and fixing your schedule) and you’ve got yourself a perfect compromise.
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