We are living in the era of independence. People are taking their futures into their own hands and either starting their own companies outright or freelancing to earn extra income. But starting a company comes with a lot of added responsibilities, and if you don’t consistently make the right decisions, you can find yourself in a difficult predicament all the way across the board.
One of the first decisions you’re left to make when starting your business is figuring out your office situation. This is actually a challenging step for a startup because it can be costly and finding the right set of variables to make it work isn’t easy. Let’s look at a few factors that should be top of mind when considering renting office space:
Location, Location, Location
Sound familiar? It should. Just like location is the prime factor in any real estate deal, it’s the same when it comes to choosing an office for your startup. You ideally want to be in the vicinity of your clients. If that is not possible, then you would want to be in some kind of hub that’s easy to access, which is why so many businesses fight to be located in the downtown core of their cities. In today’s work environment, however, you also need to assess how important a physical location is to the operations of your company before making any hasty decisions.
As a startup, one of your main goals has to be to keep costs down any way you can. You’re focused on bringing value to your customers and introducing them to your product or service will come with its own costs. You don’t want to get sucked dry by real estate, especially if you only have a few employees. Keep in mind that price will be determined primarily by location, so there certainly will have to be some give and take.
Style and Comfort
Believe it or not, style should definitely play a role in your decision. The way your office is constructed, designed, shaped, and decorated is all a reflection of your brand. Clients have expectations based on the services your company offers. They wouldn’t expect to see an office more suited for a cleaning company if you were offering digital marketing services. Perception is important so keep that in mind.
There are a couple more factors that we could get into that you should consider if you are a startup looking for office space. The size of the office and the infrastructure also play an important role. But the fact is that as a startup, you may not even require a permanent space to work.
The way so many businesses are structured nowadays, people are able to work remotely, independently, and only required to utilize office space a few times a month or for very specific occasions, such as company meetings or training seminars. Another consideration is that startups may only need some of the services offices offer without actually using up the space. So they may need administrative services or use of a mailbox or even telephone messaging services. With this in mind, it wouldn’t make sense to pay the high cost of renting an office full-time when half the time it will be vacant.
For these situations, startups need to seriously consider a virtual office. The advantages are significant. Startup businesses can essentially choose the services they really need and only pay for those services on a month-to-month basis. Once the company begins to grow, requires more office time for clients, or needs an increase in administrative services—then a virtual office allows the company to scale those needs accordingly at nearly a fraction of what it would cost to rent an office outright.
Innovative Professional Offices (IPO) provides the perfect virtual office system. We have offices centrally located in Ottawa and close to most highways. We allow our clients to choose the services they need to fit their business. Contact us today to learn more about all Innovative Professional Offices has to offer.
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