Things to Consider When Renting An Office Space
Many prominent businesses have been started in a home office or even a garage. Starting from home and working with a remote team of collaborators has become easier with increased connectivity, cloud computing, and countless apps that facilitate remote team efforts. It is a cautious and cost-friendly approach to explore your business idea with a relatively low investment. Once you pass that stage and your idea has proved viable, you have gained a few loyal customers and your team has grown in both number and complexity. It may be time to consider renting an office space to integrate your team members into a common space.
Financial Timing
It is important to make sure your company has a sustained revenue and liquidity to facilitate the move. Plan your office costs ahead and project it over your anticipated growth. Quantify your lead conversion and predict your future revenue so you can better choose the size of your office space. Consider what kind of office space are you willing to invest in. You may have had a virtual office, which often comes with day offices and meeting rooms. The next step may be a shared office space in a serviced business center, which has flexible terms and short-term lease. With a shared office space you are also avoiding furnishing, maintenance and other hidden costs of renting an office space in the traditional manner.
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Managing and Building Your Team
Working from home with a remote team has its limitations. Most interactions are impersonal and you have less involvement in your team’s day-to-day. You and your employees are prone to the distractions that come with a home office and reduced productivity. An office space unites your team and gives you more control over their work. You can be more involved in projects and a better leader. An office serves as a milestone in your growth cycle and shows your employees that they are part of something that matters. It will boost their confidence and ease customer interaction. Having permanent office space will make hosting your clients seamless and improve workflow.
Better Experience For Your Customers
An office location with a prestigious business address improves your company image. Your customers are your priority and a prominent office location makes them more confident about choosing your services. Being able to do a presentation with reliable audio and video support makes your company look professional and builds trust with your customers. You can serve them better from an office that has the amenities for administrative and tech support. Once your office administrative operations are covered you can dedicate more time to improving you customers’ experience and building your relationship with them.
