When entrepreneurs start a business the first thing they have to control is their costs. One of the biggest costs for any new business owner has to be office space, which is why so many make do and work from home, often from their bedroom, a home office or study or even the dining room table.
However, one of the biggest problems facing today’s entrepreneurs are the many distractions that can impact productivity and effectiveness during the crucial early stages of a new business.
According to Guy Clapperton writing for Forbes, many entrepreneurs and home workers face three major obstacles, which are adequate technology, over working and isolation. All making an impact on a person’s ability to work effectively.
Now, we are not advocating every new business owner takes a full time office to overcome these problems, but what we can do is highlight the many options that are available that could help improve productivity and at the same time, drastically improve the image of your business and new brand.
Co-working is the new Home Working
One of the easiest and most accessible solutions without breaking the bank in the early stages of any new business is a Co-working membership. Earlier this year we featured WeWork and their extraordinary rise in the UK. With new locations opening in 2016, they provide affordable membership options that solves two of the main disadvantages of home working. Firstly, it removes the problem with home Wi-Fi speeds. These locations have invested thousands of pounds in the latest technology to ensure all their members stay connected. The second problem they solve is the sense of isolation. WeWork provide networking and useful seminars every month as part of their membership. It’s a great way to get involved and meet other like-minded business owners with the same problems you have.
Bumping up the Company Image when you Need to
One of the easiest solutions to the old problem of meeting clients somewhere respectable and not just Starbucks, is meeting rooms. There is such a wide choice on offer everywhere that it’s easy to find a quick and easy solution to meet clients and business partners.
Meeting rooms are not as expensive as you might think. Most can be booked by the hour or day at very competitive rates and usually with short notice. So there really are quick and affordable options at every new business owner’s immediate disposal.
When a Home Office Doesn’t Cut the Mustard
Did you ever stop to think how your home address would look on your business cards? You’ve worked hard to establish your new brand and created opportunities to build your business at the same time as working from the end of your bed. But will your clients and customers spot you don’t have a proper place of work? Possibly.
Business image is an important part of the process of establishing brand loyalty. A good business address can really help to set you apart from your competition. Great locations also don’t cost the earth when you take a virtual office.
So what is a virtual office? Well it’s simply an office without the office. A virtual office provides all the visible aspects of having a full time office but without the space itself. Simply put its using a business address and call answering service to provide a professional outward appearance.
These services allow you to put the business address on your business card and website, creating the illusion that you have office space in the building, with your calls answered by a receptionist so you never have to miss another call or take a nuisance sales call.
Get the Balance Right
These three very flexible solutions can also be used together to create something that works for you. That could be an initial Co-working membership and the use of meeting rooms when you need them. Or continue to work from home using a virtual office address and use meeting rooms as and when you need to meet clients.
Whatever you decide the most important thing is to make sure you take in to account the cost of these services and the benefit they will bring to your new business. The obvious solution to carry on as you are may be why 50% of new businesses fail in the first couple of years according to Theo Paphitis.
About the Author
Stephen Moore is a writer and marketing consultant supporting businesses in the commercial property sector. Find out more about Stephen at Google+.