Listen, signing an office lease can be a daunting thing for a small business owner. “What if I grow quickly?” “What if I don’t grow quickly enough?” “What will my business look like in three to five years?”
Scary. We get it. In fact, we’ve been in both of those situations where we tied ourselves into three-year leases, then either grew too quickly or the startup fizzled out, leaving us with contracts that no longer served the needs of our business.
However, there comes a time in EVERY small business when you realize that the advantages of an office, outweigh the disadvantages. Here are seven reasons why you should consider taking the plunge.
One of the most important parts of small business and entrepreneurship is collaborative thinking (see our thoughts on collaborative space here.) Our companies have always thrived on sitting around the whiteboard, brainstorming great ideas and implementing them in real time. That kind of thinking tends to happen better when we are officing together, as opposed to working remotely.
When Google Maps maps to your house, the jig is up. Seeing an office building vs. a home matters. Your clients want to know that you’re a legitimate business and sometimes can be leary of companies still operating from a dining room table. And even if your business is not client-intensive, the effectiveness of face-to-face meetings can’t be debated.
If your office is on the doorstep of potential clients, you’ll have much better luck setting up meetings or creating a meaningful connection. There’s also the cost of a commute. Trust us, the less time your staff spends in the car, the more time they spend being productive both at work and at home making them happier, better employees all around.
You can give yourself the foundation you need to grow by moving into a monthly, fully-furnished office. Most month-to-month options have dedicated post services, fast business standard internet connections, cleaning services, dedicated phone lines and shared conference rooms to meet your clients.
5. Increased Capital
Have you ever heard the phrase you have to “spend money to make money?” By commiting to a physical office, you’ll provide yourself room to scale everything. From brainstorms, to team meetings and recruiting talent plus the improved infrastructure will put you in prime position for growth. We’ve seen many of our Edison Spaces clients grow exponentially after a few months in a legitimate office space.
There’s nothing less conducive to productivity and morale than a stuffy, overcrowded, overburdened working environment. Your team needs room to think, work, collaborate and space to do in-depth work in private. Giving your team the right tools, is half the battle.
7. Planning for the future
If an office space can help your small business grow, then it should be an essential part of your business plan. Choosing the right office space shows clients, potential investors and staff members that you’re driven to succeed and your office space is a barometer of how far you’ll go.