Get organized
Get a file cabinet
I remember starting out getting a portable hanging folder organizer with 10 folders at Office Depot. I really go crazy in an office supply store because there are so many things I want to get, but it isn't easy on a budget especially starting out.
In this case, I think it is important to first get organized, so any paperwork (yes, you will have paperwork) is organized and ready for accounting and taxes. Whether you prepare your taxes quarterly like in the United States or monthly like here in Mexico, you must prepare.
I don't think there is a bigger time-waster than the hours people spend trying to find bank account statements, invoices, incorporation papers, etc. So really put a file cabinet at the top of your shopping list. A nice four drawer file cabinet might sound like overkill, but you'll eventually need another cabinet and a vertical 4 drawer version uses less space.
Get hanging folders
Along with that cabinet get hanging folders. I remember when my mom got me a small one as a teenager, but without hanging folders just the plain ones. Needless to say, I just kept junk in it. I think it would have been much different if I actually had folders made for it.
Don't forget to organize your filing cabinet. For example you could have a drawer for personal papers, one for general business and use the other two for needs specific to what you do. It is great to keep one for print outs like reference sheets. Teachers could use a drawer for worksheets and off-line backups of reports and grades.
Get basic organizers
To help out even more, get some basic supplies like a good stapler, staples, and clips for organizing stuff that go into those folders. That will save time when a folder gets full and you want to find a specific multi-page document.
Get a book case or a storage unit
Bookshelves or racks of some kind are really essential to any long term home office even for online businesses. You might want to store some information in binders which need to be kept somewhere. You'll have a few print books perhaps about a programming language you're learning, about tax laws, office supply catalogs, and well if you like to blog, you'll probably have some reference book about your blog's topic.
Get Baskets
If you don't have many books, a wider unit with spaces for baskets might work well for you. This might work well for people who review gadgets and home electronics or even drop-shippers who work with small quantities (think E-bay resellers). People who sell crafts need to store parts and supplies. Perhaps many people would find a combination of the two the best choice as long as the space is available. A basket or tray would also be great for your desk for keeping stuff that you like to have available and within reach. A basket is also great because you can easily store it when people come over.
Get magazine holders
If you subscribe to any magazines, get some magazine holders. Each can hold several depending on the thickness of your magazines and keep them in good condition. Your typical magazine rack is only good for reading and throwing them away. Magazine holders are great for storing magazines securely and then can be placed on a shelf. Keep your reference material safe!
Get a bulletin board
You may or may not need one, but they are very useful if you have the space. Bulletin boards are great places to keep anything you need for quick reference like keyboard short cuts and your to-do list. Use a bulletin board for sharing notes with your coworkers, roommates, or family members. Just remember to not post anything you don't want visitors to see.
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