IT IS A BIG DECISION TO MOVE OUT OF YOUR HOME OFFICE SPACE AND INTO A PROFESSIONAL OFFICE.
The added expense of renting, leasing or paying month to month for a serviced office will have an effect on your income but the added benefits of a professional space has the potential to transform the productivity and reputation of your company. Here are five tips to help you decided whether a office is right for you and the location and cost you should be looking for.
1. CHOOSE THE RIGHT TIME TO MOVE OUT OF YOUR HOME OFFICE
While the home office is great for eliminating the dreaded commute and the added benefits of sleep-ins and comfy work clothes, it is not always the best place to work. When you are phoning a client from home and the birds are singing, the dog is barking and the kids are crying – it’s time to think about a professional office. Similarly if you know you are not working as quickly or efficiently as you could it may be because of the much needed presence of co-workers, which often has the subconscious effect of keeping you on track, even if they are not in your company. By completing your work faster during the day, it will actually enable you to spend more quality time in your home environment.
CAN YOU AFFORD IT?
Of course all of the benefits of working in a professional office have to be counterbalanced by affordability. Are you just starting up a new company? Well maybe you require a little longer at home, however there are great virtual office options that allow you to use professional meeting rooms, a secretary and a professional address. However if business is booming and you are struggling to organise yourself in your space then it is time to move out of home, so to speak.
2. RESEARCH YOUR OFFICE OPTIONS
Your business can choose between subleased, co-working, commercial or serviced office spaces.
Subleasing is a cost effective office space solution but can often be short term. Larger companies “carve up” their space to reduce their costs. Sometimes these larger companies grow so need their subleased space back or they may get into financial difficulty and leave the space when their lease runs out. Subleasing can be short term and usually the rentals reflect this.
Co-working spaces are dynamic and visually appealing and from around $99 per week per person, you can access a collaborative space as much as you like. It’s a cost effective way of living flexible, working from home some of the week and from ‘your office’ the other. It’s also a creative interactive business solution to the isolation of working from home. Co-working spaces work well for individuals. It may not be the solution when your company grows and needs its own private space.Commercial Spaces Commercial space is an option when you’ve grown and can see the next few years. Landlords are getting smarter and carving up their spaces into less than 100m2If you can commit for 2-5 years you will enjoy some sort of incentive, depending on vacancy rates and market conditions. Sometimes the previous tenant has left behind their furniture and fit out. It is too expensive to remove and re-sell (often worth nothing), and a great bonus for the new tenant.
Serviced offices are a great cost effective flexible solution. For very little commitment, you can set your business up immediately. Without the expense of fit out and infrastructure costs, you have a fully furnished private office, meeting rooms and receptionist. With the average 2 person office costing $3,500 to furnish, you are saving money and working smarter by taking a serviced office. As we know furniture depreciates quickly and is worth very little second hand. Serviced offices also have the communication infrastructure. A telephone system with multiple incoming and outgoing lines so it’s never engaged and you only have to pay a low handset rental fee to access it.
The other area you can benefit from is internet connection. Your own ADSL connection can cost $50-100per month, with limited megabytes. In a serviced office you can share a bigger and better service at a low cost, it may even be offered for free along with the lease. You also don’t need to worry about contracts and commitment. In a serviced office your infrastructure is there for you, along with the advantage of flexible space options.
3. WHAT DOES MY BUSINESS NEED RIGHT NOW?
Business owners often dream about their ideal space before they have grown to a stage where they need it. You need to ask yourself what you need right now? If you see you business with only you in it for a period say 6 months, why pay for space you don’t need? On the other hand if there are 2 of you and you will be growing to 3 – think ahead and take a bigger space. You may not be ready for an office, but it might be a great time for a virtual service. With a virtual service you can have phones answered and put a commercial address on your website. When you need to meet client using the virtual services give the benefit of the Serviced office meeting rooms or casual office space.
4. CHOOSING THE BEST LOCATION FOR YOUR BUSINESS CONSIDER THESE THINGS WHEN CHOOSING YOUR OFFICE:
- Proximity options for your employees and clients
- Parking options for your employees and clients
- A central location for your employees and clients
- Easy access to major arterial roads and motorways
5. OUTSOURCING YOUR BUSINESS TASKS
Business development is a critical part of growing a business, but who has the time? Day to day tasks like IT, invoicing, appointment making, cold calling, can be done by specialists, leaving you free to work on the business.
Book keeping is another task to outsource. Book keepers range from $30-50 per hour and can be booked on regular basis. The book keepers I have met can also assist in business advice and even administration. Your most important task as a business owner is to create customers, refine your product and follow the market. Do what you are best at, and what drives you in your business! Leave the day to day running of the office to others, on a contract basis. You will save time and manage your costs.
MAKING THE MOVE
Both a home office and professional office have their advantages and disadvantages. But if your business is growing it is likely time for you to move out of your home, not only will this change increase your productivity but it will also give you a definite switch off from work.
Are you working from home in Mosman, Chatswood, Neutral Bay or nearby and ready to make the move to serviced office? Book a visit to one of our serviced offices in Crows Nest and discover the flexibility and benefits of working from a serviced office with Excen.