You know how much time it takes to run a startup business from home if you’re an entrepreneur. It’s often not until you have a company that you realize how hectic and hassle to be without proper space, hunched in your own four walls. With all the expenses involved in running your own business from home like space, equipment, supplies, etc., it’s no wonder that so many entrepreneurs get together with other people trying to do the same thing and rent office space together.
Don’t think you can transition from working from home to working in an office overnight. It takes other people sometimes several months of very deliberate thought, planning, and execution before they get their business up and running in an office space. If you’re considering making the same transition yourself, we’ve put together this guide to help you through it as seamlessly as possible.
Things to Consider Before Moving
Most startups do not have offices, limiting growth and keeping entrepreneurs from hiring more talent. If you’re looking to scale your business, consider moving your startup into an office. While transitioning from a home-based office to an actual office is a big step for most entrepreneurs, it will eventually allow you to access more employees and give your company a corporate feel.
The Advantages of Having an Off-site Office
Although it might be a difficult transition, there are outstanding benefits to switching to an office space. Here are some of them:
- An off-site office frees you from distractions. When everyone is working from home, there are fewer opportunities for coworkers to get distracted and end up wasting time. Having an on-site office also allows for a certain level of accountability: even if no one else is around to see you procrastinating, you will see yourself procrastinating in your space — and be motivated instead.
- Makes meeting with your team easier and more accessible, which means you can brainstorm solutions together faster.
- Allows you to focus on work without distraction. There would be no more bickering over who gets to use common spaces like kitchen tables or living rooms.
- Provides a dedicated space for business conversations that keeps things professional.
- Making great first impressions is everything in business—not only does having an office establish credibility, but it also shows clients, customers, and partners that you mean business.
- Having a physical workspace lets potential investors see just how serious your startup is. Plus, investors are more likely to trust investing in someone if they see them working from their office every day.
- May improve employee morale by allowing workers to be closer to one another and spend more time collaborating. This idea alone can make people take pride in their workplace, improving productivity.
Choose a Co-working Space
You can save a lot of money by renting shared space in a co-working office. Depending on your needs, if you choose an office, whether solo or shared, you’ll want to make sure that it meets certain criteria. Though all these factors will vary depending on your specific business model and industry, it’s crucial to factor them into any decision about where you’re going to set up shop.
There is more than one way for small businesses to carve out a place of their own. Startups should research other options, such as office sharing, pop-up offices, serviced offices, and co-working locations. Before deciding if a physical office space is essential for your startup, be sure to explore all possible options.
Stay Connected With the Team
Working out of a home office can be lonely and isolating, but it doesn’t have to be. Sharing an office space means you have access to a more robust community—particularly if you’re in a co-working space, which is designed around collaborative work. Not only will you get a chance to work with your employees, but working together will help you stay motivated and on track while preventing burnout. Plus, being surrounded by people gives you a chance to see how your team works.
See If Your Finances Can Handle It
If you plan on working from home, you’ll want to make sure your finances are in order first. You don’t want to start taking on clients and realize you can’t afford internet service because you’re paying off debts. If it turns out that your financial situation isn’t stable enough for setting up remote work, consider availing business banking services being offered such as loan services. Some banks offer small business loan options to secure an office space at an affordable cost.
Some startups have particular needs, which don’t always align with home living. There are clear benefits to having an office and, of course, some unexpected challenges. We’ve compiled those lessons here so that you can get up and running much more quickly.