Running a business from home has lots of advantages compared to renting out an office – it’s cheaper, you don’t have to spend time commuting and you can spend more time with family. However, there are times when your home business and personal life may negatively affect one another. As a result, it’s important to still keep a level of separation. Here are just several ways to separate your home business and personal life.
Schedule separate time for work and leisure time
It’s important that you have a clear divide between work time and leisure time. Set a schedule to try and follow so that you’re starting work each day at a specific time and so that you’ve got set days off when you don’t have to answer work calls. Having a schedule makes it easier for you and other people to make plans. It also allows you to get into a work mindset and a relaxation mindset when needed. Occasionally you may have to make changes to your schedule, but you should try to keep to as strictly as you can.
Create a designated home office
You should also try to create an area in your home that’s a designated work area. This should be somewhere in which you can get away from distractions and focus on work. An ideal situation is to have a room which you can use solely as an office. If you don’t have enough space in your home for this, another option could be to designate a corner of a quiet room for work. Try not to work on the couch with the TV on and definitely don’t work from your bed – not only will you find it harder to get in the work zone due to distractions, you may find that you associate these places as workspace when trying to relax.
Invest in a separate work phone
It could be worth having a separate phone for work calls so that you have a separate number. This prevents you from having to give your personal number to clients who may try to ring you at all hours of the day. You also have the option of then turning off your business phone out of working hours so that you can truly switch off from your business. On top of this, having a business phone allows you to more easily calculate business phone call expenses as well as being able to set a separate voicemail message.
Outsource a virtual mailing address
If you don’t want to give out your personal home address to clients but still need to receive physical business mail, it could also be worth outsourcing a virtual mailing address. You can find cheap web virtual services that can collect your mail for you – such services allow you to use their address for mailing, so you don’t have to give out your own personal address. This mail can then be forwarded on to you for you to open and read.
Use a separate business bank account
It’s worth also separating your business finances from your personal finances. This makes it much easier to do bookkeeping, as you can easily determine which costs are business related. Taking out a business bank account also allows you to have your own business credit score – if you fall behind on business payments, this means that only your business credit score will be affected and not your personal credit score. You can also consider business savings accounts, some of which have perks such as having higher interest rates than regular savers.
Set up your business as a limited company
Deciding to opt for a limited company structure could also be important for legally separating your business from your personal life. This can have advantages if you get into debt – if a debt collector is called to collect business debts, only assets owned by your business are allowed to be seized. Similarly, if you get into personal debt, only personal items can be seized and not items owned by your business.
*This post was sourced for dadvworld.com
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