Working from home can be key bootstrap technique
Though he rented a Madison Avenue address to give his start-up credibility, entrepreneur Jeremy Barbera launched his direct-marketing company Metro Services Group Inc. at his living room table in 1987.
And Greg Gianforte, founder and CEO of RightNow Technologies Inc., started his highly successful Internet software business from a spare bedroom in Bozeman, MT.
So why don't more bootstrap entrepreneurs consider working from home as a way of lessening their start-up cost?
As Tony D. Clark suggests in this post at "Success from the Nest", working from home can be a major factor in reducing overhead, an important way of maximizing profitability and the amount of income available to grow your company.
Looking back over a business plan I put together a few years ago for starting a small community newspaper, I now realize working at home in the beginning could have saved me tens of thousands in start-up costs.
Yet, when a real estate representative trying to help me find office space made that same observation, I had what I believe for many entrepreneurs is a typical reaction.
"Huh? Why would I want to do that?"
Today, I can't think of a single reason it couldn't have worked out.
Working from home can save you major expenses ranging from buying a building to renting and renovating office space. That's not counting the added cost and headaches of bringing employees into that environment.
Don't assume you need a separate work space to get started on your next big venture. Big things can and do come from humble beginnings.
CONTINUED IN THE NEXT POST
October 6th, 2006 at 1:17 pm
There are also the significant tax advantages once you do start getting income coming in. I started out in a home office more than ten years ago, and I’ve never looked back since!