One of the Best Money Saving Strategies For Self-Employed Workers

Many small businesses start at home. It’s just functional to avoid buying or renting an office if you are already buying a home. Saving money to invest in the business and keep it going is basic to many new businesses that are struggling to survive and thrive.

People who are forced into entrepreneurship by unemployment want to watch every penny.

And some of us watch every penny because we are thrifty by character.

There is a long tradition of business and home occupying the same building. Here are some great ways to consolidate your place of work and your home in one building.

1. For many small retail businesses a location in an area with foot traffic and mixed-use buildings is ideal. Clothing, antiques and collectibles exist symbiotically with restaurants and law offices, attracting customers for each other. And apartments and homes fit right in the mix. Many inner city neighborhoods welcome this kind of live/work air.

2. Cities may have condemned commercial buildings and character in excellent locations for your business that you could buy for very little money. Municipalities want a taxpayer in that location, not a crumbling and empty building. Look for character you can get for a song and enhance.

3. Some businesses are not location sensitive, meaning that you can locate in some out of the way identify that no one else would consider. Think of Dell’s original Silicon Prairie. They did not pay big money for their location, and you don’t have to either. Businesses that are knowledge based, mail order or consulting (and many others), can be wherever you want to live and work.

4. Your neighborhood’s codes and covenants may prohibit you from running a business from home. But these codes expire ultimately. If no one thinks to revive them you can do at all event you want. Some businesses can function without the neighbors realizing you are in business. For example if you do search engine optimization, who is going to know you are already in business? All your customers are online, not in the driveway.

5. Living over the store or working from home is a good lifestyle, both for individuals and families. You are always there, present instead of always gone. It’s tough to stop working at the end of the day if you live right there, but it is nevertheless good. Kids can learn the realities of business right there at your side.

6. Skip the money and time it takes to commute. It’s the biggest time waster in the world, especially for those of us who hate to excursion in traffic. Many people use so much time driving they don’t have time to have a life or a relationship. Instead enjoy driving a great car on an empty mountain road when you are on vacation. On the freeway in traffic it’s just boring. If lots of us just stopped commuting we might save the planet, too. The two largest factors in our carbon footprints are transportation and HVAC.

7. If you are starting a new business or expanding an old one, consolidating your living quarters and your work location may be just what you need to be more efficient, both from the standpoint of time management and from financial investment. This is an old idea that’s new and functional again.

Historically living over the store was a good, functional solution for people’s lives. It can work for us, too.

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