Signing up for an expensive office lease was once a standard for any business that was just starting out. Nowadays, small businesses are being offered more flexible office solutions – virtual offices are one of them. Depending on your company’s needs, having a virtual office can be more beneficial for your business than renting a physical office – here’s why.
An affordable alternative to renting office space
First of all, one of the major advantages that virtual offices have over traditional ones is their affordability. While this is far from being the main reason why so many entrepreneurs are choosing to go virtual, it is important to note that the low set-up costs of a virtual office can be very beneficial for small businesses in terms of finances when compared to a traditional option which involves signing up for an office lease (which can get costly).
Another benefit that comes with adopting this model for your company is that you also get to reduce your secondary expenses. This includes everything from office equipment and supplies to business attire and employee gas stipends and parking passes. And, since there’s little to no commuting, a virtual office will also help you save some time so you can focus on the task at hand more easily.
Encourages effectiveness and productivity
Aside from being an excellent way to save time and resources, a virtual office has also shown to be very beneficial when it comes to employees’ productivity levels. Unlike a traditional work setting, a virtual office doesn’t come with a strict work schedule. This lets business owners be productive and work on growing their business and setting up their business goals instead of focusing their energy on monitoring when the employees arrive to work and when they leave.
Similarly, employees experience a productivity boost when given a chance to work remotely. As long as they are fulfilling their tasks on time, they’re free to choose when and where they want to work, which gives them a chance to create a healthy work-life balance and perform at their fullest capacity.
Provides support as you scale
Running a successful business also means being available to your customers around the clock, which can be an issue for businesses that are understaffed or tend to receive calls over the weekend, during holidays, or late at night. This is why small businesses often delegate certain office tasks to virtual receptionists who operate 24/7 to ensure that no call goes unanswered, thus reducing the chances of losing potential business and providing support for scaling.
For just a fraction of the cost of a full-time employee, companies can rely on live virtual answer service to take their calls in a friendly and professional manner, which helps them run their business more smoothly and efficiently. Whether it means taking down messages, transferring callers, scheduling appointments, or handling after-hour and overflow calls, live agents can be of immense help when things get overwhelming, acting as a direct extension of the business while also being the perfect solution when it comes to reducing operational costs.
It lets you ‘dip your toe’ instead of diving in head first
As a new business, it might be tempting to go all in and pour everything into your business idea. While it’s true that starting your own business does come with certain financial risks, sometimes, it makes more sense to dip your toes instead of diving in head first.
Using a virtual office lets you do just that – it allows you to test the waters and see what the business market is like before making a decision to sign a long office lease. By opting for a virtual workspace instead of a traditional office space, you can gain access to the necessary technology and accommodations without making any major financial investments, which is a wise move for a business that’s just starting out.
Your virtual office follows you wherever you go
Last but not least, setting up a virtual office space sometimes just makes more sense than opting for a brick-and-mortar location. The type of work that you do may not necessarily call for a regular office space e.g. running an online business – in that case, a virtual office would suffice.
Similarly, the nature of your job may require you to change location every single day (e.g. photographer, trade worker, etc.). There’s really no point in paying for an office space you’re not going to use, and having a virtual office to follow you wherever you go can be much more practical.
While it’s up to every business owner to decide where to work, there’s no doubt that a virtual office can be a great choice for those who are just starting out. Keep these things in mind when choosing between different office solutions and remember to factor in the needs of your business before making the final decision.