Most businesses start off in the red. As the saying goes, you have to spend money to make money. Chances are you needed money to buy equipment, materials, pay someone to build you a website and a marketing company to promote it. The aim is always to pay this off once you start earning a profit, but this can take longer than expected. Be very careful when it comes to your money, if you’re in debt then make sure you’re getting the best interest rate. Doing a balance transfer to another card or loan, especially one which offers and interest free introduction period could be the way to go. Budget carefully, so that every penny is being properly spent. The last thing you want is to go bust and your business to fail before it’s even had chance to really get going.
Storms, bad weather or just power failures in general can all spell disaster when you work from home. So much of what we do in business is now done online, and so with no electricity to power your computer, you’re left completely cut off from your company. Invest in a generator, a diesel generator will use less fuel than petrol and is therefore cheaper to run and cleaner to the environment- so makes for a good choice. Switching your business to online can also help when it comes to power cuts. Since everything is stored in the cloud and saves as you go along, you don’t risk losing hours worth of work if the power goes off.
Fraud or theft
Your home is your most valuable asset, and when your business is also being run from home it’s even more precious. If a burglar breaks into your home, not only could they steal yours and your family’s possessions, but important data, equipment and more from your home office. Protect your home, and always be vigilant. Windows and doors should be high quality, and a professional burglar alarm will send any thieves that manage to get in packing. Smart home systems such as CCTV, indoor cameras and doorbell cameras can all help you to keep an eye on your property even when you’re not there. In your home office, lock away important documentation, cash and other valuables in a safe. This should be hidden from sight and bolted down to the ground to prevent burglars finding it and simply walking off with it.