When you run your own business from home, you don’t have to worry about traditional office space rent, but that doesn’t mean that it won’t cost you anything. All the equipment, supplies, and software needed to get your business off the ground will add up quickly, especially if you don’t budget for these things in advance. Luckily, it’s not too difficult to save money when running a home office with these 8 tips on how to save money when running a home office.
1) Keep Extra Supplies Handy
It’s easy to forget about supplies or put them off as unnecessary purchases. But you’ll end up losing money in wasted time and productivity if you don’t have what you need. Keep extra supplies handy from business cards to printer ink, so they’re always on hand when needed.
2) Use Your Calendar to Cut Down Time Spent on Chores
If you have kids, then you understand why being able to see and manage your calendar is crucial. Luckily, there are some great tools out there that help you manage your household tasks based off of your calendar, HR automation tools make it easy for you to assign tasks and set deadlines that are shared among team members. It’s an effective way to cut down time spent managing chore work within a home office.
3) Always Have Your Keys Handy
Nothing is more frustrating than when you’re ready to go home and you realize that your keys are still at work. In order to be an effective team leader, it’s important that you check in with your employees and let them know where they stand. Start by encouraging them to set healthy work habits (like exercising regularly) so they can maximize their productivity. You can also reduce commuting costs by offering flexible work arrangements.
4) Schedule the Main Thing(s) First
Though it may seem counterintuitive, when running a home office it’s vital that you schedule your workday from start to finish. Begin by scheduling one or two major things for each day (HR automation, improving teamwork, more) and sticking strictly to that time block; once you feel comfortable with that schedule add additional tasks. Take advantage of HR automation tools like Paycom in order to automate employee benefits tracking and reduce paperwork stress.
5) Create an Automatic Savings Account
If you’re going to be running a home office, why not have an automatic savings account dedicated towards business-related expenses? It might feel like money is flying out of your bank account when you’re in startup mode, but it’s important not to get too carried away. Setting up an automatic transfer will help you put some money away for later.
6) Record All Expenses in One Place
It’s important for everyone in your business, from top-level employees to low-level staff, to record all expenses in one place. For example, if you have an assistant or other staff member who is recording expenses for you, make sure he or she is listing them all under one expense line item and providing you with that information at once. This can help improve teamwork and help weed out unnecessary spending when running a home office.
7) Be Flexible with Neighbors, Friends and Family Members
Running a home office means you have to schedule time around your family and friends. As an effective team leader, you must be flexible with everyone in your life—it’s essential for employee satisfaction. However, if it’s uncomfortable for you to run your business from home, try working out of coffee shops and co-working spaces where rent is affordable.
8) Reuse and Recycle Items
Making your office out of old household items will not only save you money, but it can give your employees and clients a homey feel. By reusing items from around your house and repurposing them for work, you’ll also be improving employee satisfaction with their work environment, which is key for keeping people healthy and productive at work. So check out our list of useful things that can serve as an office setup all you need is some creativity.
Final Thought
Home offices and telecommuting workers are constantly having to balance saving money, increasing productivity, and improving employee satisfaction. While every worker is different, there are still some tried-and-true ways you can save money as you run your office from home. Use these tips as you work toward achieving your own version of success for your home office and company.
