Many people have had the desire to start their own small business. The attraction of being able to be your own boss and work your own hours is appealing to many. There is an adage, “You have to spend money to make money,” and this statement rings true in any home business, as every business needs the supplies necessary to make it run.
What office supplies do I need? It ultimately depends on what is necessary for the products or services your home business is going to deal with. The first thing an office will need is a workstation, along with the necessary stationary to maintain records, invoices, and business transactions. After that, you may need to purchase the necessary equipment for the manufacture or creation of your goods and services.
In theory, starting a small home business is often easier said than done. Although simple and attractive in theory, at the end of the day, people who work for themselves will often have to work twice as hard. This is no different in the home setting, where the flow of work will directly affect your profit margin.
Office Supplies for a Home Business
Having the appropriate equipment necessary that is both efficient and dependable is key to a successful business of any kind. You could think of it in the sense that you begin working for yourself months or even years before you make your first dollar from your home office.
There will be a few things that should be considered when developing your home office:
- What type of workstation do you need?
- How important is your computing equipment?
- Will you need Point of Sale applications?
- How will you track expenses?
- Will your home business need a solid internet connection?
These questions will hopefully provide you with the beginning framework for the design of your home office. Each person looking to work for themselves will likely have different products or services than the next. An artist who works through graphic design will have different requirements than an artist who used paints, oils, or inks.
The best practice is to start with the basics, keeping your investments low while investing in quality equipment and maintain a small savings. This way, you can adapt as you go, upgrading your workstation or purchasing additional equipment as needed.
First and Foremost, a Workstation for Your Home Office
By workstation, I mean a desk. This will be your office and the heart of your business, where the magic happens. Different business models will have different space and equipment requirements. For instance, for a writer, a simple computer with some word processing applications and a Wi-Fi connection are all that’s really required, a kitchen table could easily accommodate the space needed to begin working.
Your workstation is going to be where you spend a lot of time, so when looking for a workstation you will want to think about:
- Whether or not the workstation has the required space and shape for your workflow.
- Will you be able to sit or stand comfortably for long periods of time at this station?
- Is the workstation built to last, or will it be a temporary investment?
An artist, however, may need quite the spacious workstation in order to accommodate all the required supplies, such as brushes and pencils and pens, along with the different types of paper required in order to create their products. They may also require a computer as well in order to maximize their avenues for selling their art. So, a large specialty desk or even multiple desks may be needed in order to maximize the flow-of-work for an artist.
Computers and Other Devices
In today’s world, having a computer is like what having a car was to our grandparents. It is a symbol of freedom and the ability to connect to and engage with the world at large. We are now existing in the information age, in which computers and the internet dominate and influence our everyday lives.
Having a computer that can handle your requirements is going to be very important for a home business. It will allow you to compete in the online market and get your products and services more exposure. Some home businesses will be having needs for a computer will nominal computing power, a writer may only need a computer with the ability to handle word processing and internet connectivity.
A computer is only one of the devices you may need to operate, however. Think of your home office computer as more of a network. Since you will be conducting commerce of some sort, it may behoove you to build a separate network for your office in your home. This is so you can provide cyber security for the digital information your customers will be providing you with.
You may also need a printer for your home office. You may need to print off invoices in order to maintain hard copies for your records or may need to work on something custom for a client.
Having an external hard drive wouldn’t be a bad idea for a graphic designer or illustrator either, as the file sizes they will be working with are often quite large, and storing them on the main computer will eventually slow its processing speed. Or simply to provide a backup of your applications and files in case of device failure.
Accounting and Software
Once you begin to operate, you will need to find a way to start tracking the income and expenses of your home business. The first step is that you will most likely need to open a business account with a bank or credit union. This way, you will be able have a separate record for your business and be able to easily maintain or prepare your tax situation.
Things to consider when thinking about proper accounting and P.O.S. requirements for your business:
- Will the products or services you sell need to be separately tracked for tax reasons?
- Will you need to leave the home office in order to complete a transaction on-site?
- What sort of taxes will you have to pay based on your products?
If simply having a record of your transactions isn’t enough for your needs, you may want to consider some accounting applications in order to track your income and expenses in greater detail. QuickBooks is one such application that is great for small businesses to track numerous transactions and expenses.
If you have a business model that requires your customers to come to you, or you to go to them, having a portable P.O.S. system may be a good investment. Square is a company that offers portable card readers for your cell phone that can make card transactions easy a painless, or you may only need to have a PayPal account attached to your business account.
Internet Connectivity
If your home business has any need to connect to the internet, you will want to invest your time with a quality internet provider who has a history of maintaining high speeds and high service quality. This will be an integral part of your home business, and so it is important to do your research and make sure that you get the biggest bang for your buck.
Nothing would be more embarrassing to have your internet go down and being unable to contact a client for days, especially with a time sensitive product or service. As a matter of fact, it wouldn’t be a terrible idea to purchase a back-up hotspot device for just such an occasion. You’ll never know when lighting may strike the lines, and this home business may be your only lifeline, so you’ll want to protect it as such.
Related questions
What expenses can I deduct for my Home Office business? There are two requirements to meet so you can deduct expenses: 1) “Regular and exclusive” use and 2) Principal place of business. With some exceptions and if you do meet those, then you can deduct: direct expenses (printer cost…), Indirect expenses (part of the electric bill…), Mortgage interest, property taxes, rent and depreciation on the business part of your home (in proportion).
What is the cost of IT support for a small business? You can expect to pay about $50 per desktop per month for a “managed service”: in case of an issue, you call. Fixing is done remotely and a “Tech” can come if needed. Alternatively, you can alternatively use an “IT guy” who can help when needed and that would amount to about $60 to $100 per hour.