Courtney Rosenfeld

Small Business Advice

COURTNEY ROSENFELD | March 15, 2021

Working at home is a pretty wonderful thing with amazing benefits, like reduced transportation and wardrobe costs. And as the years go by, an increasing number of employers are getting comfortable with their workers doing their jobs on a remote basis. With all that in mind, you might be thinking about leaving your office job for greener, more freelance-flavored pastures to enjoy those perks, or working up the nerve to ask your boss if you can start working from home more often. Either way, you need to make sure you have an awesome home office all set up. And who knows? The changes you make could help boost the value of your home in a way that makes it more appealing to buyers should you decide to purchase a bigger house to accommodate your home office. Check out a few tips, courtesy of SmallBusiness.Report, that will help you build the perfect home office in just about any garage. Use a Storage Unit for All Your Extra Stuff If you’re considering converting your existing garage into an incredible home office, odds are there’s going to be a bit of overflow in terms of your existing stuff. All those mementos, seasonal decorations, and knick-knacks are going to have to go somewhere, and that dilemma can slow you down. Your transition is a great opportunity to do some decluttering, and MyDomaine points out you can donate some surplus things to local charities or sell them for funds toward your project. For the keepers, you have another easy solution: simply rent a storage unit. Storage units are surprisingly affordable, and you can find one nearby with a quick search. Another option to consider is adding a shed to your existing property. With extra belongings out of the way, it allows you to free up space for all that money-making productivity you’re about to enjoy in your brand new home office. Go Green with Office Plants Not enough can be said for how much a little bit of greenery can bring to a home office setting. When you’re building your own workspace at home, you have complete control over how it looks and feels, and WeWork points out some plants here and there can go a long way towards making just about any workspace a lot more ideal. Plants have been shown to do things like improve air quality, reduce illness frequency, and improve moods when they’re around. It’s no surprise, of course, that all those health benefits lead to an increase in productivity. The presence of plants can even increase the creative capacity of those nearby! Get Lit and Make It Comfy Light is very important when it comes to your home-based workspace, but not every garage has ample natural light. If you don’t have an easy way to position yourself in proximity to some nice, natural light, you might want to look into lighting your garage workspace on your own. Having a well-lit workspace is incredibly important. Insufficient light can not only make it hard to work, but it might also be bad for your eyes, over time. Get plenty of floor lamps and ceiling-based lighting so that you can have a nice, well-lit workspace as you get stuff done on a day-to-day basis. And of course, a quality desk lamp is a must! Establish Business Essentials Establishing a great space to work can be essential to your success. If you’re taking on this project while starting a new business, though, you need to think about a few other essentials. For one, you should choose your business structure and register with the state. This sounds difficult, but it’s actually easy if you go through an online service. You also should create a practical budget and business plan. It’s common to think those things are just for big businesses, but they are critical for any venture. Your budget will help you ensure profitability, and a formal plan helps you identify goals and how to achieve them. It can also be useful if you need to apply for funding. Creating your own workspace gives you an exciting amount of control over how you work. Not only can you work when you want, but you can work in exactly the type of environment that you prefer. By doing things like investing in solid lighting, using a storage unit to take care of your extra possessions, and providing yourself with plenty of plant life, you’ll be able to guarantee that you’re as productive as it gets, no matter what.

Small Business Advice

COURTNEY ROSENFELD | February 03, 2021

Ever since the recession of the last decade, the way people earn a living has changed. Increasingly people have options to make money outside of traditional employment. Instead of a nine-to-five schedule, Monday through Friday, workers can choose flexible schedules. The gig economy enables flexibility and opportunity, and it is setting a template for how careers will be in the future. Flexible employment is on the rise In a 2016 survey, 34 percent of workers were freelancers or were involved in some level of freelance work. This number is expected to rise to 43 percent by 2020. As our society progresses toward half of all workers freelancing, the definitions of career and employment will change. If you are looking to join the ranks of those taking advantage of gig-economy opportunities, there are some skills necessary for success. As a type of self-employment, there can be several potential stumbling blocks. Here are some tips on how to grow a gig-economy business and prepare yourself for a flexible future. Self-employment success requires organization Even though working in the gig economy provides flexibility, at its core, your freelance business must be well-organized and managed just like any other small business. Set up a workflow, and schedule your projects. Time management is crucial because you will not have supervisors or coworkers to prod you to complete projects. Depending on your type of freelance work, you may have clients who are just as demanding as employers, but it is also much easier for a client to fire you if they do not like your services. In addition to time management, ensuring that there is a divide between your work and personal life is crucial for freelance success. One way to keep work and life separate when you are working from home is to quarantine an area of your house just for your gig. If you have space, a separate home office is ideal, but the same effect can be realized with organization. Make sure that everything is in one place so you can work uninterrupted when needed. If your gig involves speaking with clients, make sure that your workspace is away from distractions and noise. Freelancers have to be comfortable with pitching themselves Another necessary skill is the ability to drum up new business. Many freelancers make the mistake of building up a book of business, then focusing most of their attention on working for those clients without considering future business. Although your work for the client may be good enough to warrant lots of steady work for the foreseeable future, you cannot control your client’s decisions. Having a large pipeline of clients can ensure that your business weathers losing an important client. When scheduling your week, set aside a small portion of time, such as one hour, to devote to pitching new business. Even if you spend the time simply looking at potential opportunities, you will be more prepared in the event of losing a client. Stay connected, even with competitors It’s vitally important to avoid isolation as a freelancer. There will be many temptations to stay in your home office, such as deadlines, comfort, and productivity, but a freelancer can benefit greatly from some level of networking. Even if you’re not using them as a source of referrals, develop a network of other freelancers or clients that you can interact with on a regular basis. Strike up some professional friendships that allow for in-person meetings. These contacts can be sources of business knowledge, moral support, or just camaraderie. Some freelancers avoid networking with people whom they perceive as competitors, but they can often provide valuable support. Even veteran freelancers sometimes have difficulty pricing their services. Knowing what others charge can help you avoid both under- and overcharging. Start a business of your own Are you ready to take the plunge? Before you get too excited, there are some business basics to tend. This starts with registering your business. Determine your business structure first. For the sake of simplicity, let’s assume you decide on an LLC, which is a very popular choice. An LLC provides asset protection, tax advantages, and will grow with your business. It’s also easy to register if you go through an online service. You should also create a practical budget, which will require projecting both your income and expenses. There are software applications that can help you with this. Once completed, create a business plan that reflects your goals. You can find templates to help you, and it’s useful if you need funding or want to attract investors. With that completed, you can start thinking about attracting customers. The gig economy brings exciting opportunities for people to earn a living on flexible terms, from home, at a client site, or anywhere. Freelance work is poised to continue growing. By organizing and developing some key skills, you can prepare yourself for success.