Running your business may give you the freedom to implement new ideas or generally take ownership of your career. However, you will still need a dedicated space to get work done. For most, this means converting one or more rooms in their home into an office. What can you do if there isn’t enough space in your office to get work done?
Turn Paper Records Into Digital Records
One way to get more space in your home office is to scan all of your paper records onto your computer. In addition to freeing up space for client meetings or additional equipment, it may make it easier to keep track of invoices or other records that you will need come tax time.
You may want to put all of your digital files onto a secure cloud drive if you have one available. This ensures that you don’t lose important tax or employee information that you may need or are required to keep for a minimum amount of time. Even if your computer breaks or is stolen, you can access your records from any other device with an internet connection.
Rent Space in a Warehouse
Renting space in a warehouse through a supply chain services may be a good way to help you store items without cluttering your home office. This may be an ideal spot for extra inventory, old documents that you don’t want to get rid of or decorations that you may use on a seasonal basis. It may also be a good place to store old furniture or other items that you don’t have a place for at the moment. In most cases, the warehouse space that you rent will qualify as a tax write-off as it is likely a necessary and ordinary business expense.
Move to a Larger Space in Your House
When you first started your company, you may have had nothing more than yourself and your computer. At that point, you may have only needed a small space in the kitchen or the living room. However, if you are now seeing clients in person or via a webcam, you may need a larger or more private space to conduct business.
The easiest way to accomplish your goal may be to move into a finished basement or convert an unused room into an office. If you don’t have a finished basement or unused space in your home, you may want to think about creating one. In addition to potentially adding value to your home, any costs incurred to build it may count as a business expense.
Look Into Renting Office Space
If you rent a home, you may not be able to build an addition or otherwise alter the property to better suit your needs. Therefore, you may need to rent office space or look for a coworking space in your area that you can share with other companies. For some business owners, this may be beneficial because you don’t have to work by yourself as many entrepreneurs do.
You may also be able to network or consult with these other businesses and build relationships needed to take your company to the next level. If you do choose to rent a dedicated office space, make sure that you understand all of the terms and that you don’t lock yourself into a lease that you can’t afford.
Outgrowing your home office may be a sign that your company is growing and has what it takes to survive in the marketplace. While this is good news for your business, make sure that you expand in a way that provides flexibility in case your new arrangement fails to meet your needs in the future.
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