Starting a Business While Living With Your Parents
According to a recent survey, one in four millennials still lives at home. Some people are still going to school, while others have not found a job that pays enough to allow them to move out. Then, there are some folks who have decided to start their own business and want to reach a certain level of success before they leave the nest.
If this is the case for you, then you need to learn how to grow your new enterprise without bothering your family or allowing them to disrupt your efforts. Today, we will talk about businesses that you can start from home, how to navigate living with your family, and some tips that you can use to find success with your new company.
Create A Business That You Can Start From Home
Many aspiring entrepreneurs choose to start a business from home, but they believe that they need to have thousands of dollars in funding and a large office to get started. While those aspects will certainly help, every company must start from somewhere. With that said, there are many business ideas that you can get off of the ground with limited funds if you decide to work from home.
For instance, if you have a computer and access to the internet, then you could start a web or graphic design company. If you are very knowledgeable on a certain subject or you have a skill, like playing an instrument, then you could tutor or teach kids online from the comfort of your home. You could also consider the idea of working as a virtual assistant or training your own team of assistants to assist existing companies.
Remember that just because you may be running the base of operations out of the house, you do not necessarily need to be there all of the time. Instead, you could start a company that keeps you out of the home most of the day. Businesses of that sort might include a catering company, landscaping operation, or you could provide pest control services. Also, consider the idea of working as an independent contractor where you drive your own vehicle for a food delivery service or a transportation company like Uber or Lyft.
Moving Back In With Your Parents
Some entrepreneurs start working from their childhood home and branch out from there. However, other people may have already lived on their own and had a job, but they decide to start a company and move back in with their parents. If you are part of the latter category, then you should think about the pros and cons of moving in with your parents and how you can all live under the same roof without getting into each other’s way.
The good part about moving in with your parents is that you get to save money so you can funnel more of your income into the business. Plus, you get to spend more time with your family, which is important for your mental health. On the downside, you may have your own room, but you won’t have the privacy that you might have when living elsewhere, and you’ll need to live by your parent’s rules.
Still, moving back in with the parents can be beneficial during the starting phases of your company. You just need to properly navigate the situation, so everyone in your family is happy. That starts with setting clear boundaries and setting rules for each other. Talk about when you are allowed to have clients over to your home and what time is too late for client calls. Of course, you will also want to be respectful of each other’s space and make rules for bathroom time and when you can use the common areas of the house.
Tips For Making It Work
Now that you have your business up and running, you should consider some of the tips that other people have found successful when working from home. First, try not to get too stressed with this unusual situation. Take things one step at a time, and don’t forget to take care of yourself in the process. Make it a point to get enough sleep, try to exercise in the morning before everyone wakes up, and consider meditation on the most stressful days.
It is also a good idea to set up a productive workspace. If you can work out of a bedroom or a separate office, then you can get the privacy and quiet that you need. If you have to work in the living room or other common space, then talk to your parents and work out a schedule, so you aren’t bothering each other. Try to work in a room that has windows so you can get plenty of natural light so you can see your work and boost your creativity.
If you start a company that requires you to be on the computer all of the time and you can’t create the productive workspace that you need at home, then consider renting an office or working out of a coworking space. Coworking facilities allow you to sit at a real workstation or request a private office, and you will have access to all of the office equipment that you need. It is a great option that will allow you to get out of the house and limit distractions at home.
As you can see, it is very possible to start a business while working from home. Just remember to set boundaries, set goals, and realize that this is likely a temporary situation, and you can create the company of your dreams while saving cash in the process.