Office these days is where your hearth is

Says Reva Khanna, the first woman CA of Delhi, who took up the profession after the untimely death of her husband, “My husband died when we had been married for just eight years. Being anEnglish graduate, it was difficult to fathom tax laws, the government policies, accounting or finance. But I was determined. I worked with the ITC before starting off from home and today I have a healthy practice with a dedicated list of clients.”

Adds Akrita Kalra, 26, who gave up a management course at the prestigious XLRI to take up teaching from home, “I was interested in computers all along and was also keen on teaching. I utilised both skills to start specialised courses like preparing students for GMAT. I started off with two students and now I have a full staff and bigger classrooms. My business generates Rs 25 lakh per annum.”

Before you turn your home into an office, there are some fundamental things you need to keep in mind. Explains Kum Kum Tandon, a career counsellor, “You need to know why you want to do a particular thing and how you will do it. The reasons could be immediate personal gains, long-term gains, economic support to the family, satisfaction and effectively tapping yourexisting qualifications and talents. You should match your potential and interests with work choices. As far as possible, avoid turning your house into a complete office. Understand your environment as regards space, time, facilities and support.”

Tandon lists the possible choices as:

Elaborating on these she explains: “For an office at home, you need a secretary, typist, equipment, courier facilities nearby and other infrastructure. Computers can help by enabling Internet connection, e-mail, database, presentation facilities and reducing time for work. Computer aided careers include preparing history and geography lessons for children on CD-ROMs, the demand for which is growing by leaps and bounds. Other career avenues include designing, publishing, research, ticketing, boutiques, etc.”

But for computer related courses, you yourself need a good knowledge of the systems. Informs Tandon, “There are basically threelevels, the higher the level the more knowledge you require. At level 1 are data entry, data analysis and Internet services. At level 2 are training, desk top publishing and designing. At level 3 are multimedia, software development and Web page designing.”

Even when you have hit on the right idea, there can be problems in deciding the cost of services. Says Tara Sinha, advertising, marketing and public relations expert, “It is very difficult to put a price on your services, particularly at the start-up stage. You should do some market study as to the going rate of the services you plan to offer and start at the bottom. As the clients start coming and acknowledging your work, you can work out the demand-supply and fix the cost accordingly.”

Adds Kalra, “You should strike a balance between what people are willing to pay and how much you want.”

Another important issue before you take off is to know your tax obligations. Informs Khanna, “For professional and technical practices, registration with anappropriate authority is a must. There are no legal requirements if you are a professional, but you need to pay service tax. If your business involves sale of goods, you need approvals from the sales tax authorities. If it is a shop, it has to be registered under the Shops & Establishments Act. Whatever be your business activity, keep accounts in order from day one and file returns regularly. Maintain regular books of accounts and get these audited by a CA.”

From boutiques to Web page designing or just coming up with catchy ad-lines is all possible out of home. The recent MCD guidelines in Delhi that enable people to use 500 sq ft in their house for commercial activity are a further boost to working from home. Take advantage of the market scenario, which is changing with agencies laying off staff and contracting work to cut down recurring costs and overhead liabilities. And soon your address might be office@home.com.