Small Business and Self-Employed Business Owners Help Center

A 10 Step Guide to Successful Small Business Management

Print out the Step-by-step Checklist

Make your business run better and more profitably

Table of Contents

Ten Building Blocks
to Success:
 1. Starting a Business
 2. Financing a business
 3. Company Name
 4. Office Equipment
 5. Hiring
 6. Business Insurance
 7. Advertising
 8. Efficiency
 9. Pension Plans
 10. Succession Plans

Checklist for Success

 More Useful Advice:

▪ Life Insurance

▪Disability Insurance

▪Medical Insurance

▪Long Term Care

▪Travel Insurance

▪Dental Insurance

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Step 4: Office Equipment

Work at home vs. an office outside the home
With the tax deductions for a Home Office, as well as convenience and lower cost you should consider the pros and cons of a home office verses an outside office.

The Home Office
(1) If you work at home the tax deduction for all expenses as well as a portion of the house expenses (utilities, taxes, etc.) as long as the home office is used exclusively as an office. Part of your non-deductible home expenses can be deducted. Your accountant will use the office's percentage of square feet in relation to the whole house and apply that to the costs. Example, if the office takes up 10% of the total square footage of your home and the electric bill is $200 each month, then 10% or $20 is deductible.
(2) Working from home is convenient. Get more work done. After hours. On the weekend, etc.
(3) The Noise Factor. You should try to make your office in one room of the house and not in a common
area like the living room or kitchen.

An Outside Office
(1) Tax deductions for all normal business expenses.
(2) Les convenient. However, if you have vehicles, equipment, supplies, etc. that won't fit at home then this works out better.
(3) Quieter. More business like atmosphere.

Office Equipment: Rent vs. Lease
When starting a new office you'll need office equipment. With or without financing you should consider the payment structure carefully. Your accountant can do an analysis of the costs for you. Bottom line: if you can't afford to buy then lease.

Office Equipment
You'll probably need everything on this list

(1) Computer. PC or laptop? I'd recommend both
        Highly recommended: Go to Dell online at www.dell.com and set up a Dell Preferred Account
        Look for prices on both. Make sure you have enough memory.
        The Dell Preferred Account usually gives you three months to pay off the balance.
        Ask for a discount and/or additional software or peripherals if you buy both machines at the same time.

(2) Printer, fax machine, scanner and copier
        You'll need all four. If space it tight get one machine that does it all. They start at $149. Hewlett Packard has many models. Color copiers start at $350. Depending on how much work you have you might want a heavy duty model that will last. Check online and go to Staples and Best Buy. Find the model you want then find the lowest price. Decide if a laser printer works better for you than a dot matrix printer.

(3) Desks, chairs, shelves' lamps and filing cabinets
        For an office desk, office chair, filing cabinets, paper shredder, home office furniture, business phone system, toner, or ink cartridge, the best place to go shopping is Staples, Office Max, Best Buy and Office Depot. They all have huge office supply selections to look at. They have all the major brands of computers, notebooks, scanners, copiers and electronics. Before you buy something online go see the huge supply of office equipment already set up. Ask the store clerk for advice

(4) Business Software.
        Your computer will come with a word processor. You that to generate Form letters and emails.
        Buy QuickBooks for accounting and billing. It's easy to use and your accountant can then do your books and taxes quicker. Look online at vendors like www.amazon.com.

(5) Cell phone and Blackberry

Move on to Step #5: Hiring.

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